PulteGroup (PHM) Stock Moves -0.52%: What You Should Know
PulteGroup (PHM) closed at $110.45 in the latest trading session, marking a -0.52% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.02%. Meanwhile, the Dow lost 1.04%, and the Nasdaq, a tech-heavy index, lost 1.65%.
Shares of the homebuilder have appreciated by 6.4% over the course of the past month, underperforming the Construction sector's gain of 9.49% and outperforming the S&P 500's gain of 3.64%.
Market participants will be closely following the financial results of PulteGroup in its upcoming release. The company plans to announce its earnings on April 23, 2024. It is anticipated that the company will report an EPS of $2.36, marking a 0.43% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $3.59 billion, reflecting a 0.37% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $11.77 per share and revenue of $16.89 billion, which would represent changes of +0.43% and +5.15%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for PulteGroup. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.43% higher. At present, PulteGroup boasts a Zacks Rank of #3 (Hold).
Digging into valuation, PulteGroup currently has a Forward P/E ratio of 9.44. For comparison, its industry has an average Forward P/E of 9.44, which means PulteGroup is trading at no noticeable deviation to the group.
We can also see that PHM currently has a PEG ratio of 0.75. 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 was holding an average PEG ratio of 0.86 at yesterday's closing price.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 16, which puts it in the top 7% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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PulteGroup, Inc. (PHM) : Free Stock Analysis Report
