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PulteGroup (PHM) Stock Sinks As Market Gains: What You Should Know
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PulteGroup (PHM - Free Report) closed at $77.29 in the latest trading session, marking a -0.5% move from the prior day. This change lagged the S&P 500's daily gain of 0.12%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 5.14%.
Investors will be hoping for strength from PulteGroup as it approaches its next earnings release, which is expected to be July 25, 2023. Meanwhile, our latest consensus estimate is calling for revenue of $3.94 billion, up 0.43% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.30 per share and revenue of $15.14 billion, which would represent changes of -13.89% and -6.68%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PulteGroup. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.86% higher. PulteGroup is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, PulteGroup currently has a Forward P/E ratio of 8.35. This valuation marks a discount compared to its industry's average Forward P/E of 9.91.
Also, we should mention that PHM has a PEG ratio of 0.52. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. PHM's industry had an average PEG ratio of 0.82 as of yesterday's close.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PHM in the coming trading sessions, be sure to utilize Zacks.com.
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PulteGroup (PHM) Stock Sinks As Market Gains: What You Should Know
PulteGroup (PHM - Free Report) closed at $77.29 in the latest trading session, marking a -0.5% move from the prior day. This change lagged the S&P 500's daily gain of 0.12%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 5.14%.
Investors will be hoping for strength from PulteGroup as it approaches its next earnings release, which is expected to be July 25, 2023. Meanwhile, our latest consensus estimate is calling for revenue of $3.94 billion, up 0.43% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.30 per share and revenue of $15.14 billion, which would represent changes of -13.89% and -6.68%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PulteGroup. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.86% higher. PulteGroup is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, PulteGroup currently has a Forward P/E ratio of 8.35. This valuation marks a discount compared to its industry's average Forward P/E of 9.91.
Also, we should mention that PHM has a PEG ratio of 0.52. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. PHM's industry had an average PEG ratio of 0.82 as of yesterday's close.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PHM in the coming trading sessions, be sure to utilize Zacks.com.