PulteGroup, Inc. (PHM) Expected to Announce Quarterly Sales of $1.97 Billion

Equities research analysts expect that PulteGroup, Inc. (NYSE:PHM) will announce sales of $1.97 billion for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for PulteGroup’s earnings, with the lowest sales estimate coming in at $1.88 billion and the highest estimate coming in at $2.10 billion. PulteGroup also reported sales of $1.97 billion during the same quarter last year. The business is expected to report its next quarterly earnings report before the market opens on Tuesday, April 23rd.

According to Zacks, analysts expect that PulteGroup will report full year sales of $9.88 billion for the current financial year, with estimates ranging from $9.38 billion to $10.56 billion. For the next financial year, analysts forecast that the business will report sales of $9.85 billion, with estimates ranging from $8.94 billion to $10.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow PulteGroup.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, January 29th. The construction company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.02. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.90 billion. PulteGroup had a return on equity of 22.51% and a net margin of 10.03%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS.

A number of research analysts have recently issued reports on PHM shares. Royal Bank of Canada downgraded PulteGroup from a “sector perform” rating to an “underperform” rating and set a $25.00 price objective on the stock. in a research note on Friday, January 11th. They noted that the move was a valuation call. BTIG Research lowered PulteGroup from a “neutral” rating to a “sell” rating and set a $23.00 price objective for the company. in a report on Thursday, January 17th. Buckingham Research initiated coverage on PulteGroup in a report on Friday, January 11th. They set a “neutral” rating and a $30.00 price objective for the company. They noted that the move was a valuation call. Zacks Investment Research lowered PulteGroup from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Finally, Raymond James lowered PulteGroup from an “outperform” rating to a “market perform” rating in a report on Thursday, February 14th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $28.54.

In related news, insider Ryan Marshall sold 15,000 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $27.81, for a total value of $417,150.00. Following the sale, the insider now owns 453,996 shares in the company, valued at $12,625,628.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.49% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Empirical Finance LLC purchased a new stake in shares of PulteGroup in the fourth quarter worth $1,414,000. Eqis Capital Management Inc. raised its position in PulteGroup by 102.7% during the fourth quarter. Eqis Capital Management Inc. now owns 48,122 shares of the construction company’s stock valued at $1,251,000 after purchasing an additional 24,384 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in PulteGroup by 36.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 329,218 shares of the construction company’s stock valued at $8,556,000 after purchasing an additional 88,187 shares in the last quarter. Zweig DiMenna Associates LLC purchased a new stake in PulteGroup during the fourth quarter valued at about $940,000. Finally, Paradigm Financial Partners LLC purchased a new stake in PulteGroup during the fourth quarter valued at about $1,184,000. Institutional investors own 87.79% of the company’s stock.

Shares of NYSE:PHM traded up $0.35 during midday trading on Thursday, reaching $30.39. The company’s stock had a trading volume of 3,316,359 shares, compared to its average volume of 3,436,400. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 1.45 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.77 and a quick ratio of 0.77. PulteGroup has a fifty-two week low of $20.64 and a fifty-two week high of $33.04.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 15th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Thursday, March 14th. PulteGroup’s payout ratio is currently 12.26%.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.

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