Zacks Research Research Analysts Increase Earnings Estimates for PulteGroup, Inc. (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) – Stock analysts at Zacks Research raised their Q2 2024 EPS estimates for PulteGroup in a research report issued to clients and investors on Tuesday, May 7th. Zacks Research analyst A. Gupta now expects that the construction company will post earnings of $3.14 per share for the quarter, up from their prior forecast of $2.97. The consensus estimate for PulteGroup’s current full-year earnings is $12.66 per share. Zacks Research also issued estimates for PulteGroup’s Q3 2024 earnings at $3.15 EPS, Q4 2024 earnings at $3.39 EPS, Q1 2025 earnings at $2.79 EPS, Q2 2025 earnings at $3.39 EPS, Q3 2025 earnings at $3.26 EPS and FY2025 earnings at $12.94 EPS.

PHM has been the subject of a number of other research reports. Jefferies Financial Group boosted their price objective on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group lifted their price target on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. Wedbush reaffirmed a “neutral” rating and issued a $85.00 price target on shares of PulteGroup in a report on Wednesday, January 31st. Finally, Citigroup lifted their price target on shares of PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.73.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $115.81 on Thursday. The company has a market capitalization of $24.36 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. PulteGroup has a 52 week low of $65.16 and a 52 week high of $121.07. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $112.90 and a 200 day moving average of $101.97.

PulteGroup announced that its board has approved a stock repurchase plan on Tuesday, January 30th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, June 18th. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

Institutional Investors Weigh In On PulteGroup

Several hedge funds have recently added to or reduced their stakes in PHM. E Fund Management Hong Kong Co. Ltd. purchased a new stake in PulteGroup in the first quarter valued at $26,000. Benjamin Edwards Inc. purchased a new stake in PulteGroup in the first quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in PulteGroup in the third quarter valued at $36,000. Rakuten Securities Inc. purchased a new stake in PulteGroup in the fourth quarter valued at $37,000. Finally, Lindbrook Capital LLC boosted its holdings in PulteGroup by 335.6% in the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after purchasing an additional 292 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

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.