Wedbush Has Strong Forecast for PulteGroup FY2024 Earnings

PulteGroup, Inc. (NYSE:PHM - Free Report) - Equities researchers at Wedbush increased their FY2024 earnings estimates for shares of PulteGroup in a research report issued on Friday, January 3rd. Wedbush analyst J. Mccanless now forecasts that the construction company will post earnings of $13.10 per share for the year, up from their previous estimate of $13.03. Wedbush currently has a "Outperform" rating and a $135.00 price target 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.

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

A number of other analysts have also recently weighed in on the company. Evercore ISI lowered their price target on PulteGroup from $198.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. StockNews.com cut shares of PulteGroup from a "buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Barclays reiterated an "equal weight" rating and issued a $140.00 target price (down previously from $150.00) on shares of PulteGroup in a research note on Wednesday, December 11th. BTIG Research increased their price target on PulteGroup from $139.00 to $156.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Oppenheimer reduced their price objective on PulteGroup from $168.00 to $165.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $144.29.

PulteGroup Price Performance

Shares of PHM stock traded down $1.28 during trading hours on Monday, hitting $108.77. The company had a trading volume of 1,539,838 shares, compared to its average volume of 1,619,711. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market capitalization of $22.31 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 0.48 and a beta of 1.67. PulteGroup has a 12 month low of $100.24 and a 12 month high of $149.47. The firm's fifty day moving average is $124.17 and its 200 day moving average is $126.99.

Hedge Funds Weigh In On PulteGroup

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC boosted its stake in PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock worth $27,000 after acquiring an additional 99 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of PulteGroup during the third quarter worth $29,000. Candriam S.C.A. bought a new position in shares of PulteGroup during the second quarter worth $33,000. JNBA Financial Advisors acquired a new position in shares of PulteGroup in the 3rd quarter valued at $43,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of PulteGroup by 1,059.3% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company's stock valued at $45,000 after buying an additional 286 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

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 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.