Q1 2019 Earnings Estimate for PulteGroup (PHM) Issued By Wedbush
PulteGroup (NYSE:PHM) – Investment analysts at Wedbush cut their Q1 2019 earnings per share estimates for PulteGroup in a research note issued on Wednesday, April 25th. Wedbush analyst J. Mccanless now anticipates that the construction company will earn $0.56 per share for the quarter, down from their previous estimate of $0.59. Wedbush has a “Neutral” rating and a $35.00 price target on the stock. Wedbush also issued estimates for PulteGroup’s Q2 2019 earnings at $0.75 EPS, Q3 2019 earnings at $0.93 EPS, Q4 2019 earnings at $1.14 EPS and FY2019 earnings at $3.38 EPS.
PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, April 24th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.15. PulteGroup had a return on equity of 17.48% and a net margin of 5.91%. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year.
PHM opened at $31.06 on Thursday. The firm has a market cap of $8,871.26, a price-to-earnings ratio of 12.38, a PEG ratio of 0.53 and a beta of 1.04. PulteGroup has a one year low of $22.07 and a one year high of $35.21.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHM. Ladenburg Thalmann Financial Services Inc. lifted its position in PulteGroup by 145.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,501 shares of the construction company’s stock worth $315,000 after buying an additional 6,806 shares during the period. Neuberger Berman Group LLC lifted its position in PulteGroup by 885.5% during the third quarter. Neuberger Berman Group LLC now owns 396,818 shares of the construction company’s stock worth $10,845,000 after buying an additional 356,551 shares during the period. Jaffetilchin Investment Partners LLC lifted its position in PulteGroup by 66.8% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 33,985 shares of the construction company’s stock worth $1,130,000 after buying an additional 13,611 shares during the period. CHURCHILL MANAGEMENT Corp lifted its position in PulteGroup by 2.0% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 83,701 shares of the construction company’s stock worth $2,783,000 after buying an additional 1,670 shares during the period. Finally, Greenhaven Associates Inc. lifted its position in PulteGroup by 0.3% during the fourth quarter. Greenhaven Associates Inc. now owns 5,749,401 shares of the construction company’s stock worth $191,168,000 after buying an additional 14,853 shares during the period. Hedge funds and other institutional investors own 85.05% of the company’s stock.
In related news, Director Patrick J. Oleary sold 8,677 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $30.03, for a total transaction of $260,570.31. Following the transaction, the director now directly owns 90,687 shares in the company, valued at $2,723,330.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.86% of the company’s stock.
PulteGroup declared that its board has authorized a stock buyback program on Tuesday, January 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 3rd. Investors of record on Friday, March 16th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, March 15th. This represents a $0.36 annualized dividend and a yield of 1.16%. PulteGroup’s dividend payout ratio (DPR) is presently 16.44%.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
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