26.26 +0.57 (2.22%)
After hours: 5:00PM EDT
|Bid||25.69 x 1000|
|Ask||26.25 x 1300|
|Day's Range||25.67 - 26.11|
|52 Week Range||25.67 - 35.21|
|PE Ratio (TTM)||10.08|
|Earnings Date||Oct 22, 2018 - Oct 26, 2018|
|Forward Dividend & Yield||0.36 (1.37%)|
|1y Target Est||33.13|
Let's check out the charts again Monday afternoon to see if the decline in PHM has run its course on the stock discussed recently by our own Jim Cramer. In the daily bar chart of PHM, below, we can see that this month that prices made new lows for the year. The daily On-Balance-Volume (OBV) line is close to making a new low for the move down from its June peak.
Despite experiencing a level of heightened volatility since January, the S&P 500 Index has managed to reach new highs, up 9.3% year-to-date (YTD) as the market continues its nearly ten-year bull run. The S&P Homebuilders Select Industry Index is down roughly 10% in 2018, and one team of bears on the Street says the worst is yet to come, as outlined in a recent CNBC story. "We expect the housing recovery to remain fairly tepid in 2019," wrote J.P. Morgan analyst Michael Rehaut in a note to clients on Friday.
Home builder stocks were broadly lower Monday, as mortgage-finance company Freddie Mac said the U.S. housing market had "essentially stalled." The iShares U.S. Home Construction ETF slumped 0.8% in morning trade, with 39 of its 47 equity components trading lower. Among the more active home builders, shares of PulteGroup Inc. shed 1.2%, of D.R. Horton Inc. gave up 0.5%, of Lennar Corp. lost 0.8% and of Toll Brothers Inc. fell 1.2%, while KB Home's stock climbed 1.5%. Elsewhere, shares of home improvement retailers Home Depot Inc. declined 0.8% and of Lowe's Companies dropped 1.0%. Freddie Mac said despite slightly improving inventory conditions and home price pressures, it now expects home sales in 2018 to be "just below" last years's level. "The spring and summer home buying and selling season ultimately ended up being a letdown, despite a faster growing economy and healthy demand for buying a home," said Freddie Mac Chief Economist Sam Khater. "Unfortunately, too many would-be buyers continue to be tripped up by not enough affordable supply and the one-two punch of much higher home prices and mortgage rates." The home builder ETF has lost 16% year to date, while the S&P 500 has gained 9.2%.
Homebuilder stocks are tanking after J.P. Morgan said it is "more cautious" about the sector's prospects.
The Zacks Analyst Blog Highlights: PulteGroup, PGT Innovations, D.R. Horton, Comfort Systems USA and Armstrong Flooring
This represents an increase in short interest as investors who seek to profit from falling equity prices added to their short positions on September 17. Index (PMI) data, output in the Consumer Goods sector is rising.
Builders broke ground on more new homes, but applied for fewer permits, a signal that the pace of construction could ease in the future.
Zacks.com highlights: ON Semiconductor, Potlatch, Ideal Power, PulteGroup and Alpha & Omega Semiconductor
A closely-watched tracker of builder sentiment was unchanged at a recent low level in September as the industry continues to face steep headwinds.
The Zacks Analyst Blog Highlights: D.R. Horton, Gates Industrial, Norbord, PulteGroup and North American Construction Group
PulteGroup is relaunching its Centex brand in Georgia with plans to develop affordable new-home communities throughout Metro Atlanta. Centex is a national brand of PulteGroup, Inc. (PHM), offering consumer inspired homes built for first-time homebuyers. “As the Atlanta region continues to add population and jobs, there is strong demand for more affordably priced homes across Atlanta’s suburban counties,” said Will Cutler, division president for PulteGroup’s Georgia Division.
Short interest is moderate for PHM with between 5 and 10% of shares outstanding currently on loan. This represents an increase in short interest as investors who seek to profit from falling equity prices added to their short positions on September 13.
PulteGroup's (PHM) brand Pulte Homes teams up with Builder Boost in order to leverage technology and social media for its new Pulte Smart Home in Austin.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
PulteGroup, Inc. (PHM) announced today a partnership with Builder Boost, an online resource and community of key Austin-based influential real estate agents who actively introduce, promote, and sell newly built homes from top homebuilders through social media. “Builder Boost is the perfect partner for us to exclusively unveil our new Pulte Smart Home here in Austin,” said Greg Salinas, division president for Pulte Homes in Central Texas.
Prudent land acquisition strategy, steady performance and healthy growth prospects are likely to help PulteGroup (PHM) grow further.
August housing starts surged despite builder permits sinking to a 15 month low. Yahoo Finance's Dion Rabouin, Seana Smith, Myles Udland and Andy Serwer discuss with Charles Schwab's Randy Frederick.