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PulteGroup (PHM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest market close, PulteGroup (PHM - Free Report) reached $110.85, with a -1.62% movement compared to the previous day. This change lagged the S&P 500's daily loss of 0.11%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq decreased by 0.41%.
Coming into today, shares of the homebuilder had gained 9.29% in the past month. In that same time, the Construction sector gained 8.1%, while the S&P 500 gained 2.7%.
The upcoming earnings release of PulteGroup will be of great interest to investors. The company's earnings report is expected on April 23, 2024. On that day, PulteGroup is projected to report earnings of $2.36 per share, which would represent year-over-year growth of 0.43%. In the meantime, our current consensus estimate forecasts the revenue to be $3.59 billion, indicating a 0.37% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $11.77 per share and revenue of $16.89 billion, indicating changes of +0.43% and +5.15%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for PulteGroup. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, there's been a 0.43% rise in the Zacks Consensus EPS estimate. PulteGroup presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, PulteGroup is currently exchanging hands at a Forward P/E ratio of 9.58. This indicates a premium in contrast to its industry's Forward P/E of 9.5.
We can also see that PHM currently has a PEG ratio of 0.76. 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. PHM's industry had an average PEG ratio of 0.87 as of yesterday's close.
The Building Products - Home Builders industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 36, placing it within the top 15% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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PulteGroup (PHM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest market close, PulteGroup (PHM - Free Report) reached $110.85, with a -1.62% movement compared to the previous day. This change lagged the S&P 500's daily loss of 0.11%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq decreased by 0.41%.
Coming into today, shares of the homebuilder had gained 9.29% in the past month. In that same time, the Construction sector gained 8.1%, while the S&P 500 gained 2.7%.
The upcoming earnings release of PulteGroup will be of great interest to investors. The company's earnings report is expected on April 23, 2024. On that day, PulteGroup is projected to report earnings of $2.36 per share, which would represent year-over-year growth of 0.43%. In the meantime, our current consensus estimate forecasts the revenue to be $3.59 billion, indicating a 0.37% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $11.77 per share and revenue of $16.89 billion, indicating changes of +0.43% and +5.15%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for PulteGroup. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, there's been a 0.43% rise in the Zacks Consensus EPS estimate. PulteGroup presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, PulteGroup is currently exchanging hands at a Forward P/E ratio of 9.58. This indicates a premium in contrast to its industry's Forward P/E of 9.5.
We can also see that PHM currently has a PEG ratio of 0.76. 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. PHM's industry had an average PEG ratio of 0.87 as of yesterday's close.
The Building Products - Home Builders industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 36, placing it within the top 15% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.