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.

Several other brokerages also recently issued reports on PHM. UBS upped their price objective on PulteGroup from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Credit Suisse Group set a $35.00 price objective on PulteGroup and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada restated a “buy” rating and issued a $35.00 price objective on shares of PulteGroup in a research report on Monday, March 26th. JPMorgan Chase upped their price objective on PulteGroup from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Zacks Investment Research downgraded PulteGroup from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $35.21.

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%.

About PulteGroup

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.

Earnings History and Estimates for PulteGroup (NYSE:PHM)

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