PulteGroup (PHM) Scheduled to Post Quarterly Earnings on Tuesday

Posted by Defense World Staff on Jul 18th, 2023

PulteGroup (NYSE:PHM – Get Free Report) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, July 25th. Analysts expect the company to announce earnings of $2.44 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

PulteGroup (NYSE:PHM – Get Free Report) last posted its quarterly earnings data on Tuesday, April 25th. The construction company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.57. PulteGroup had a net margin of 16.22% and a return on equity of 31.03%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the company posted $1.83 EPS. PulteGroup’s revenue was up 12.2% on a year-over-year basis. On average, analysts expect PulteGroup to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

PulteGroup Price Performance

PHM opened at $81.70 on Tuesday. PulteGroup has a 52 week low of $35.99 and a 52 week high of $82.54. The firm has a market capitalization of $18.24 billion, a PE ratio of 7.03, a P/E/G ratio of 0.55 and a beta of 1.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.70 and a current ratio of 0.70. The company has a fifty day moving average price of $72.70 and a two-hundred day moving average price of $62.01.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Tuesday, June 20th were issued a $0.16 dividend. The ex-dividend date was Friday, June 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.78%. PulteGroup’s payout ratio is 5.51%.

PulteGroup declared that its Board of Directors has approved a stock buyback plan on Tuesday, April 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

PHM has been the subject of several analyst reports. StockNews.com initiated coverage on shares of PulteGroup in a research note on Thursday, May 18th. They set a “buy” rating for the company. Wolfe Research raised shares of PulteGroup from a “peer perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a research report on Wednesday, March 22nd. Citigroup boosted their price target on shares of PulteGroup from $68.00 to $75.00 in a research report on Thursday, April 27th. Seaport Res Ptn reaffirmed a “buy” rating on shares of PulteGroup in a research note on Wednesday, June 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of PulteGroup in a research note on Wednesday, May 31st. They issued a “buy” rating and a $95.00 price objective for the company. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Insiders Place Their Bets

In other news, Director Brian P. Anderson sold 15,000 shares of PulteGroup stock in a transaction on Friday, April 28th. The stock was sold at an average price of $66.95, for a total transaction of $1,004,250.00. Following the transaction, the director now directly owns 55,886 shares in the company, valued at approximately $3,741,567.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Brian P. Anderson sold 15,000 shares of the business’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $66.95, for a total transaction of $1,004,250.00. Following the completion of the transaction, the director now owns 55,886 shares of the company’s stock, valued at approximately $3,741,567.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Oshaughnessy sold 115,102 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $66.90, for a total value of $7,700,323.80. Following the completion of the transaction, the chief financial officer now directly owns 177,564 shares of the company’s stock, valued at approximately $11,879,031.60. The disclosure for this sale can be found here. Insiders have sold a total of 228,102 shares of company stock valued at $15,101,034 in the last quarter. Insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On PulteGroup

Several institutional investors have recently bought and sold shares of the company. Profund Advisors LLC acquired a new stake in shares of PulteGroup in the first quarter valued at about $221,000. First Horizon Advisors Inc. increased its position in PulteGroup by 24.6% in the first quarter. First Horizon Advisors Inc. now owns 3,472 shares of the construction company’s stock worth $202,000 after buying an additional 686 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in PulteGroup in the first quarter worth $201,000. Acadian Asset Management LLC grew its position in shares of PulteGroup by 11.1% in the first quarter. Acadian Asset Management LLC now owns 4,487 shares of the construction company’s stock valued at $188,000 after purchasing an additional 449 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in shares of PulteGroup in the fourth quarter valued at $130,000. Institutional investors own 90.24% of the company’s stock.

About PulteGroup

(Get Free Report)

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, American West, and John Wieland Homes and Neighborhoods brand names.