PulteGroup (NYSE:PHM) Releases Earnings Results, Beats Estimates By $0.25 EPS

PulteGroup (NYSE:PHM - Get Free Report) issued its earnings results on Tuesday. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25, Briefing.com reports. The firm had revenue of $4.48 billion during the quarter, compared to analysts' expectations of $4.27 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. PulteGroup's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $2.90 earnings per share.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $133.78 on Wednesday. The company has a market capitalization of $27.76 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 0.61 and a beta of 1.62. The firm's 50 day simple moving average is $136.45 and its 200 day simple moving average is $122.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. PulteGroup has a fifty-two week low of $68.80 and a fifty-two week high of $149.47.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.60%. PulteGroup's payout ratio is currently 6.10%.

Insider Buying and Selling at PulteGroup

In other news, CFO Robert Oshaughnessy sold 28,993 shares of the business's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the transaction, the chief financial officer now owns 160,330 shares of the company's stock, valued at $20,729,065.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Thomas J. Folliard sold 19,000 shares of the company's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares of the company's stock, valued at $5,931,462.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Oshaughnessy sold 28,993 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value of $3,748,504.97. Following the transaction, the chief financial officer now owns 160,330 shares of the company's stock, valued at approximately $20,729,065.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,000 shares of company stock valued at $15,814,039. Corporate insiders own 0.83% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on PHM shares. Bank of America increased 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. raised their price objective on shares of PulteGroup from $141.00 to $152.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. Wedbush reissued a "neutral" rating and issued a $115.00 target price on shares of PulteGroup in a report on Tuesday. Citigroup dropped their price target on PulteGroup from $129.00 to $117.00 and set a "neutral" rating for the company in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company boosted their price objective on PulteGroup from $150.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, PulteGroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.14.

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.

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