$1.84 Billion in Sales Expected for PulteGroup, Inc. (PHM) This Quarter
Wall Street brokerages forecast that PulteGroup, Inc. (NYSE:PHM) will post $1.84 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for PulteGroup’s earnings. The lowest sales estimate is $1.81 billion and the highest is $1.93 billion. PulteGroup posted sales of $1.63 billion during the same quarter last year, which suggests a positive year over year growth rate of 12.9%. The firm is scheduled to issue its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that PulteGroup will report full-year sales of $1.84 billion for the current year, with estimates ranging from $9.48 billion to $9.86 billion. For the next financial year, analysts anticipate that the firm will report sales of $10.73 billion per share, with estimates ranging from $10.22 billion to $11.37 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for PulteGroup.
PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.85. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 earnings per share.
In related news, CFO Robert Oshaughnessy sold 92,800 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $33.89, for a total value of $3,144,992.00. Following the sale, the chief financial officer now directly owns 363,722 shares in the company, valued at $12,326,538.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.71% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of PHM. Glenmede Trust Co. NA lifted its stake in PulteGroup by 7,557.2% in the fourth quarter. Glenmede Trust Co. NA now owns 1,429,833 shares of the construction company’s stock valued at $47,541,000 after buying an additional 1,411,160 shares during the period. Element Capital Management LLC acquired a new position in PulteGroup in the fourth quarter valued at approximately $44,346,000. Janus Henderson Group PLC lifted its stake in PulteGroup by 747.1% in the third quarter. Janus Henderson Group PLC now owns 1,323,075 shares of the construction company’s stock valued at $36,159,000 after buying an additional 1,166,885 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its stake in PulteGroup by 2,015.5% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 1,046,201 shares of the construction company’s stock valued at $28,591,000 after buying an additional 996,747 shares during the period. Finally, Hennessy Advisors Inc. acquired a new position in PulteGroup in the fourth quarter valued at approximately $32,668,000. 83.80% of the stock is currently owned by hedge funds and other institutional investors.
PulteGroup (NYSE PHM) traded down $0.13 during trading hours on Friday, hitting $29.34. The stock had a trading volume of 5,267,770 shares, compared to its average volume of 5,339,487. The company has a market capitalization of $8,860.00, a PE ratio of 14.24, a P/E/G ratio of 0.47 and a beta of 1.03. PulteGroup has a 52 week low of $21.31 and a 52 week high of $35.21.
PulteGroup announced that its Board of Directors has approved a stock buyback plan on Tuesday, January 30th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 16th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 15th. PulteGroup’s payout ratio is presently 17.48%.
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PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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