PulteGroup (PHM) Declines More Than Market: Some Information for Investors
The most recent trading session ended with PulteGroup (PHM) standing at $115.69, reflecting a -0.65% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily loss of 0.31%. Elsewhere, the Dow lost 0.41%, while the tech-heavy Nasdaq lost 0.27%.
Coming into today, shares of the homebuilder had gained 10.13% in the past month. In that same time, the Construction sector gained 8.52%, while the S&P 500 gained 3.05%.
Investors will be eagerly watching for the performance of PulteGroup in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 23, 2024. The company is expected to report EPS of $2.36, up 0.43% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.59 billion, up 0.37% from the year-ago period.
PHM's full-year Zacks Consensus Estimates are calling for earnings of $11.77 per share and revenue of $16.89 billion. These results would represent year-over-year changes of +0.43% and +5.15%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for PulteGroup. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, PulteGroup boasts a Zacks Rank of #3 (Hold).
Looking at valuation, PulteGroup is presently trading at a Forward P/E ratio of 9.9. This denotes no noticeable deviation relative to the industry's average Forward P/E of 9.9.
One should further note that PHM currently holds a PEG ratio of 0.78. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Building Products - Home Builders industry currently had an average PEG ratio of 0.95 as of yesterday's close.
The Building Products - Home Builders industry is part of the Construction sector. This industry, currently bearing a Zacks Industry Rank of 51, finds itself in the top 21% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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PulteGroup, Inc. (PHM) : Free Stock Analysis Report
