Equities Analysts Set Expectations for PulteGroup Inc.’s Q3 2016 Earnings (PHM)
PulteGroup Inc. (NYSE:PHM) – Equities researchers at Wedbush dropped their Q3 2016 earnings estimates for PulteGroup in a research report issued to clients and investors on Monday. Wedbush analyst J. Mccanless now forecasts that the brokerage will post earnings of $0.44 per share for the quarter, down from their previous estimate of $0.48. Wedbush has a “Underperform” rating and a $16.00 price objective on the stock. Wedbush also issued estimates for PulteGroup’s Q4 2016 earnings at $0.57 EPS, FY2016 earnings at $1.57 EPS, Q1 2017 earnings at $0.28 EPS, Q2 2017 earnings at $0.41 EPS, Q3 2017 earnings at $0.60 EPS, Q4 2017 earnings at $0.77 EPS and FY2017 earnings at $2.02 EPS.
PulteGroup (NYSE:PHM) last released its earnings results on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The company earned $1.80 billion during the quarter, compared to analyst estimates of $1.66 billion. PulteGroup had a return on equity of 11.24% and a net margin of 7.89%. PulteGroup’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share.
Several other analysts have also commented on the stock. FBR & Co restated a “marketperform” rating and issued a $24.00 price objective on shares of PulteGroup in a report on Thursday, September 29th. Wells Fargo & Co. initiated coverage on shares of PulteGroup in a report on Wednesday, September 28th. They set a “market perform” rating for the company. Zacks Investment Research lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Deutsche Bank AG reiterated a “buy” rating and set a $27.00 target price on shares of PulteGroup in a report on Thursday, September 15th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $26.00 target price (up from $23.00) on shares of PulteGroup in a report on Sunday, July 24th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of C$21.53.
PulteGroup (NYSE:PHM) traded up 1.881% during trading on Tuesday, hitting $19.765. The stock had a trading volume of 1,682,302 shares. PulteGroup has a 1-year low of $14.61 and a 1-year high of $22.40. The company has a market capitalization of $6.79 billion, a P/E ratio of 13.012 and a beta of 1.50. The stock’s 50-day moving average price is $20.13 and its 200-day moving average price is $19.65.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PHM. Geode Capital Management LLC boosted its stake in shares of PulteGroup by 1.8% in the first quarter. Geode Capital Management LLC now owns 2,662,099 shares of the company’s stock valued at $49,708,000 after buying an additional 46,478 shares during the last quarter. First Quadrant L P CA bought a new stake in shares of PulteGroup during the second quarter valued at approximately $109,000. ING Groep NV bought a new stake in shares of PulteGroup during the second quarter valued at approximately $17,356,000. Stevens First Principles Investment Advisors bought a new stake in shares of PulteGroup during the second quarter valued at approximately $3,710,000. Finally, Squarepoint Ops LLC boosted its stake in shares of PulteGroup by 67.4% in the first quarter. Squarepoint Ops LLC now owns 108,271 shares of the company’s stock valued at $2,026,000 after buying an additional 43,607 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.
In related news, VP James L. Ossowski sold 11,655 shares of PulteGroup stock in a transaction on Monday, July 25th. The shares were sold at an average price of C$25.75, for a total transaction of C$300,116.25. Following the transaction, the vice president now owns 51,880 shares in the company, valued at approximately C$1,335,910. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Steven M. Cook sold 20,000 shares of PulteGroup stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of C$22.06, for a total transaction of C$441,200.00. Following the transaction, the executive vice president now owns 261,626 shares in the company, valued at approximately C$5,771,469.56. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Friday, September 16th. PulteGroup’s payout ratio is 23.68%.
PulteGroup Company Profile
PulteGroup, Inc is a homebuilder operating in the United States. The Company, through Pulte Mortgage LLC, is engaged in mortgage banking operations and title operations. The Company’s subsidiaries are also engaged in the homebuilding business. The Company operates through Homebuilding and Financial Services segments.
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