PulteGroup (PHM) Set to Announce Quarterly Earnings on Tuesday

PulteGroup (NYSE:PHM) will be posting its quarterly earnings results before the market opens on Tuesday, April 23rd. Analysts expect PulteGroup to post earnings of $2.36 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a net margin of 16.20% and a return on equity of 25.97%. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same quarter in the prior year, the business earned $3.63 earnings per share. PulteGroup’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, analysts expect PulteGroup to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $108.79 on Tuesday. The firm has a market cap of $22.95 billion, a price-to-earnings ratio of 9.27, a P/E/G ratio of 0.54 and a beta of 1.56. The firm has a fifty day moving average price of $110.24 and a 200 day moving average price of $97.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86. PulteGroup has a fifty-two week low of $59.95 and a fifty-two week high of $121.07.

PulteGroup announced that its Board of Directors has authorized a stock buyback plan on Tuesday, January 30th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Thursday, March 14th. PulteGroup’s payout ratio is 6.81%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Raymond James raised their price target on shares of PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Citigroup raised their price target on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, April 5th. The Goldman Sachs Group raised their price target on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Finally, Barclays raised their price target on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $106.47.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PulteGroup

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its holdings in shares of PulteGroup by 9.5% in the first quarter. American Century Companies Inc. now owns 55,196 shares of the construction company’s stock valued at $2,313,000 after purchasing an additional 4,799 shares during the period. Cetera Advisor Networks LLC acquired a new position in PulteGroup in the first quarter valued at about $221,000. PNC Financial Services Group Inc. lifted its position in shares of PulteGroup by 1.7% during the first quarter. PNC Financial Services Group Inc. now owns 22,505 shares of the construction company’s stock worth $945,000 after purchasing an additional 382 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of PulteGroup by 11.1% during the first quarter. Acadian Asset Management LLC now owns 4,487 shares of the construction company’s stock worth $188,000 after purchasing an additional 449 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of PulteGroup by 26.7% during the first quarter. MetLife Investment Management LLC now owns 70,856 shares of the construction company’s stock worth $2,969,000 after purchasing an additional 14,918 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

About PulteGroup

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.