Wedbush Has Positive Outlook for PulteGroup FY2024 Earnings

PulteGroup, Inc. (NYSE:PHM) – Equities researchers at Wedbush boosted their FY2024 earnings per share estimates for PulteGroup in a research note 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 prior forecast of $13.03. Wedbush currently has a “Outperform” rating and a $135.00 target price 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.

Other analysts also recently issued reports about the stock. Evercore ISI cut their target price on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Bank of America upped their price target on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Wells Fargo & Company decreased their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Barclays reissued an “equal weight” rating and issued a $140.00 price target (down from $150.00) on shares of PulteGroup in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus price target of $144.29.

PulteGroup Stock Down 1.1 %

Shares of NYSE:PHM opened at $107.78 on Monday. The firm has a 50 day simple moving average of $123.66 and a 200 day simple moving average of $126.98. PulteGroup has a 52 week low of $100.24 and a 52 week high of $149.47. 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 company has a market cap of $22.10 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the previous year, the company earned $2.90 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year.

Institutional Trading of PulteGroup

A number of institutional investors and hedge funds have recently made changes to their positions in PHM. Logan Capital Management Inc. lifted its holdings in PulteGroup by 67.7% in the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock worth $2,124,000 after purchasing an additional 5,976 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of PulteGroup by 38.1% in the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock valued at $17,410,000 after purchasing an additional 33,472 shares during the period. Trustmark National Bank Trust Department lifted its stake in shares of PulteGroup by 39.8% in the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock worth $5,682,000 after buying an additional 11,269 shares during the last quarter. Systematic Financial Management LP boosted its holdings in shares of PulteGroup by 3.9% during the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock worth $18,696,000 after buying an additional 4,840 shares during the period. Finally, New Millennium Group LLC grew its stake in PulteGroup by 10,625.8% in the 3rd quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock valued at $1,370,000 after buying an additional 9,457 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.82%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, December 17th. PulteGroup’s dividend payout ratio 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.