PulteGroup (PHM) Stock Declines While Market Improves: Some Information for Investors
PulteGroup (PHM) ended the recent trading session at $102, demonstrating a -0.48% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.45% for the day.
The investment community will be paying close attention to the earnings performance of PulteGroup in its upcoming release. The company is slated to reveal its earnings on January 30, 2024. The company is forecasted to report an EPS of $3.20, showcasing a 11.85% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $4.48 billion, showing a 13.36% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $11.49 per share and revenue of $16.25 billion, which would represent changes of +6.39% and +0.12%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for PulteGroup. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. PulteGroup presently features a Zacks Rank of #3 (Hold).
Investors should also note PulteGroup's current valuation metrics, including its Forward P/E ratio of 8.92. This denotes a discount relative to the industry's average Forward P/E of 10.4.
It is also worth noting that PHM currently has a PEG ratio of 0.3. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Building Products - Home Builders industry was having an average PEG ratio of 0.89.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
