Wedbush Has Bullish Estimate for PulteGroup FY2024 Earnings

PulteGroup, Inc. (NYSE:PHM) – Wedbush lifted their FY2024 earnings estimates for PulteGroup in a research note issued to investors on Friday, January 3rd. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings of $13.10 per share for the year, up from their prior estimate of $13.03. Wedbush has a “Outperform” rating and a $135.00 price objective on the stock. The consensus estimate for PulteGroup’s current full-year earnings is $12.94 per share. Wedbush also issued estimates for PulteGroup’s Q2 2025 earnings at $3.59 EPS, Q3 2025 earnings at $3.87 EPS, Q4 2025 earnings at $4.16 EPS, FY2025 earnings at $14.58 EPS, Q1 2026 earnings at $3.39 EPS, Q2 2026 earnings at $3.97 EPS, Q3 2026 earnings at $4.24 EPS and Q4 2026 earnings at $4.72 EPS.

PHM has been the topic of a number of other research reports. Oppenheimer cut their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Barclays reaffirmed an “equal weight” rating and issued a $140.00 price target (down from $150.00) on shares of PulteGroup in a report on Wednesday, December 11th. Bank of America upped their price objective on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. dropped their price target on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Finally, Wells Fargo & Company cut their price objective on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.29.

PulteGroup Stock Down 1.2 %

PHM opened at $108.77 on Monday. The firm has a 50 day moving average price of $124.17 and a 200 day moving average price of $126.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. PulteGroup has a 1 year low of $100.24 and a 1 year high of $149.47. The company has a market cap of $22.31 billion, a PE ratio of 8.02, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period in the prior year, the firm posted $2.90 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year.

Institutional Trading of PulteGroup

A number of hedge funds have recently modified their holdings of PHM. Commonwealth Equity Services LLC boosted its holdings in PulteGroup by 5.3% during the second quarter. Commonwealth Equity Services LLC now owns 44,221 shares of the construction company’s stock worth $4,869,000 after purchasing an additional 2,230 shares during the last quarter. TD Asset Management Inc raised its position in shares of PulteGroup by 31.8% in the second quarter. TD Asset Management Inc now owns 221,355 shares of the construction company’s stock valued at $24,371,000 after buying an additional 53,469 shares in the last quarter. National Bank of Canada FI lifted its position in shares of PulteGroup by 9.5% during the 2nd quarter. National Bank of Canada FI now owns 134,717 shares of the construction company’s stock valued at $14,283,000 after acquiring an additional 11,677 shares during the period. Candriam S.C.A. bought a new stake in PulteGroup during the second quarter worth about $33,000. Finally, Illinois Municipal Retirement Fund boosted its position in shares of PulteGroup by 196.3% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 93,239 shares of the construction company’s stock worth $10,266,000 after acquiring an additional 61,776 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 0.81%. PulteGroup’s dividend payout ratio (DPR) is presently 6.49%.

PulteGroup Company Profile

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.