PulteGroup, Inc. (NYSE:PHM) to Post FY2024 Earnings of $12.60 Per Share, Wedbush Forecasts

PulteGroup, Inc. (NYSE:PHM) – Equities researchers at Wedbush lifted their FY2024 EPS estimates for PulteGroup in a report released on Tuesday, April 23rd. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings of $12.60 per share for the year, up from their prior estimate of $11.21. Wedbush currently has a “Neutral” rating and a $85.00 target price on the stock. The consensus estimate for PulteGroup’s current full-year earnings is $11.79 per share. Wedbush also issued estimates for PulteGroup’s Q4 2024 earnings at $3.17 EPS, Q1 2025 earnings at $2.89 EPS, Q4 2025 earnings at $3.72 EPS and FY2025 earnings at $13.24 EPS.

Other research analysts also recently issued reports about the company. Zelman & Associates raised PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday. UBS Group downgraded PulteGroup from a “buy” rating to a “neutral” rating and raised their target price for the stock from $93.00 to $120.00 in a research note on Thursday, January 4th. Jefferies Financial Group raised their target price on PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays raised their target price on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Raymond James raised their price objective on PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.73.

PulteGroup Stock Down 0.4 %

NYSE PHM opened at $112.26 on Thursday. The business has a fifty day moving average price of $110.90 and a 200 day moving average price of $99.05. PulteGroup has a one year low of $64.41 and a one year high of $121.07. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.85. The company has a market cap of $23.69 billion, a P/E ratio of 8.99, a P/E/G ratio of 0.55 and a beta of 1.56.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same quarter in the prior year, the firm posted $3.63 EPS. The business’s quarterly revenue was down 15.5% compared to the same quarter last year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Thursday, March 14th. PulteGroup’s payout ratio is presently 6.41%.

PulteGroup announced that its Board of Directors has initiated a share repurchase plan on Tuesday, January 30th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the completion of the transaction, the vice president now owns 15,389 shares in the company, valued at approximately $1,586,452.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On PulteGroup

Several hedge funds and other institutional investors have recently made changes to their positions in PHM. Norges Bank purchased a new stake in PulteGroup during the fourth quarter worth approximately $381,960,000. Pacer Advisors Inc. raised its stake in PulteGroup by 54.6% during the 4th quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company’s stock worth $310,043,000 after acquiring an additional 1,060,466 shares in the last quarter. Hsbc Holdings PLC lifted its position in PulteGroup by 63.6% in the third quarter. Hsbc Holdings PLC now owns 1,748,119 shares of the construction company’s stock valued at $129,354,000 after acquiring an additional 679,582 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in PulteGroup in the third quarter valued at $47,762,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of PulteGroup by 38.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock worth $195,316,000 after purchasing an additional 523,623 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Company Profile

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