Brokerages Expect PulteGroup, Inc. (PHM) Will Post Quarterly Sales of $2.47 Billion

Wall Street analysts expect that PulteGroup, Inc. (NYSE:PHM) will report sales of $2.47 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for PulteGroup’s earnings. The highest sales estimate is $2.52 billion and the lowest is $2.37 billion. PulteGroup posted sales of $2.57 billion during the same quarter last year, which would indicate a negative year over year growth rate of 3.9%. The firm is expected to issue its next earnings results on Thursday, July 25th.

On average, analysts expect that PulteGroup will report full year sales of $9.96 billion for the current fiscal year, with estimates ranging from $9.66 billion to $10.33 billion. For the next fiscal year, analysts expect that the business will report sales of $10.31 billion, with estimates ranging from $9.72 billion to $10.65 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow PulteGroup.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, April 23rd. The construction company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.12. PulteGroup had a return on equity of 21.65% and a net margin of 9.97%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the company earned $0.59 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis.

Several brokerages have recently weighed in on PHM. BTIG Research upgraded PulteGroup from a “sell” rating to a “neutral” rating and set a $31.35 price target for the company in a report on Wednesday, April 24th. Zacks Investment Research upgraded PulteGroup from a “sell” rating to a “buy” rating and set a $35.00 price target for the company in a report on Thursday, April 25th. Buckingham Research raised their price target on PulteGroup from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. upgraded PulteGroup from an “underweight” rating to a “neutral” rating and raised their price target for the company from $24.00 to $25.50 in a report on Wednesday, April 10th. Finally, Barclays set a $28.00 price target on PulteGroup and gave the company a “hold” rating in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. PulteGroup presently has an average rating of “Hold” and a consensus price target of $28.53.

In other PulteGroup news, CFO Robert Oshaughnessy sold 95,738 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $31.42, for a total transaction of $3,008,087.96. Following the completion of the sale, the chief financial officer now directly owns 334,213 shares in the company, valued at approximately $10,500,972.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP James L. Ossowski sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $31.19, for a total value of $311,900.00. Following the sale, the senior vice president now owns 25,750 shares of the company’s stock, valued at $803,142.50. The disclosure for this sale can be found here. Insiders sold a total of 157,846 shares of company stock valued at $4,959,732 over the last quarter. 0.49% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Burt Wealth Advisors purchased a new position in shares of PulteGroup during the 4th quarter valued at about $26,000. CSat Investment Advisory L.P. lifted its position in shares of PulteGroup by 34.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 1,469 shares of the construction company’s stock valued at $38,000 after buying an additional 374 shares in the last quarter. Ameritas Investment Corp purchased a new position in shares of PulteGroup during the 1st quarter valued at about $42,000. Rockefeller Capital Management L.P. purchased a new position in shares of PulteGroup during the 1st quarter valued at about $43,000. Finally, Kwmg LLC purchased a new position in shares of PulteGroup during the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 84.75% of the company’s stock.

Shares of NYSE:PHM traded down $0.28 on Monday, hitting $31.78. 77,559 shares of the company traded hands, compared to its average volume of 2,981,672. PulteGroup has a 52 week low of $20.64 and a 52 week high of $33.04. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $8.85 billion, a PE ratio of 8.94, a PEG ratio of 1.39 and a beta of 0.79.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.44 annualized dividend and a yield of 1.38%. PulteGroup’s payout ratio is 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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