PulteGroup (NYSE:PHM) Issues Quarterly Earnings Results

PulteGroup (NYSE:PHM) issued its earnings results on Tuesday. The construction company reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.56, Briefing.com reports. PulteGroup had a net margin of 16.75% and a return on equity of 26.19%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the prior year, the business earned $3.00 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis.

PulteGroup Stock Up 2.0 %

PHM stock traded up $2.44 during midday trading on Thursday, hitting $125.00. 2,614,219 shares of the company’s stock were exchanged, compared to its average volume of 1,843,552. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. PulteGroup has a 12-month low of $68.80 and a 12-month high of $129.85. The firm has a 50 day moving average price of $113.97 and a 200-day moving average price of $111.22. The stock has a market capitalization of $26.29 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 0.54 and a beta of 1.61.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $0.80 annualized dividend and a dividend yield of 0.64%. PulteGroup’s payout ratio is currently 6.41%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PHM. Raymond James increased their price objective on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com raised shares of PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Oppenheimer lifted their price target on shares of PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada lifted their target price on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.93.

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.