News

PulteGroup (PHM) closed the most recent trading day at $116.24, moving -0.08% from the previous trading session. This move lagged the S&P 500's daily gain of 0.28%. On the other hand, the Dow registered a gain of 0.53%, and the technology-centric Nasdaq increased by 0.4%.

Shares of the homebuilder witnessed a gain of 1.96% over the previous month, beating the performance of the Construction sector with its gain of 0.98% and underperforming the S&P 500's gain of 3.78%.

The investment community will be closely monitoring the performance of PulteGroup in its forthcoming earnings report. The company is scheduled to release its earnings on July 23, 2024. The company's earnings per share (EPS) are projected to be $3.20, reflecting a 6.67% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $4.48 billion, reflecting a 6.9% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $12.89 per share and a revenue of $17.34 billion, demonstrating changes of +9.98% and +7.94%, respectively, from the preceding year.

It's also important for investors to be aware of any recent modifications to analyst estimates for PulteGroup. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, PulteGroup is carrying a Zacks Rank of #3 (Hold).

Digging into valuation, PulteGroup currently has a Forward P/E ratio of 9.02. This valuation marks a premium compared to its industry's average Forward P/E of 8.94.

One should further note that PHM currently holds a PEG ratio of 0.51. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Building Products - Home Builders industry was having an average PEG ratio of 0.85.

The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

PulteGroup, Inc. (PHM) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.