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PulteGroup (PHM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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PulteGroup (PHM - Free Report) closed the most recent trading day at $103.31, moving -0.4% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.15%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the homebuilder had gained 8% over the past month. This has outpaced the Construction sector's gain of 5.37% and the S&P 500's gain of 3.5% in that time.
Investors will be eagerly watching for the performance of PulteGroup in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 30, 2024. In that report, analysts expect PulteGroup to post earnings of $3.20 per share. This would mark a year-over-year decline of 11.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.48 billion, down 13.36% from the year-ago period.
Any recent changes to analyst estimates for PulteGroup should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.35% upward. PulteGroup is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that PulteGroup has a Forward P/E ratio of 9.13 right now. This denotes a discount relative to the industry's average Forward P/E of 9.69.
It's also important to note that PHM currently trades at a PEG ratio of 0.3. 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. By the end of yesterday's trading, the Building Products - Home Builders industry had an average PEG ratio of 0.88.
The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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PulteGroup (PHM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
PulteGroup (PHM - Free Report) closed the most recent trading day at $103.31, moving -0.4% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.15%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the homebuilder had gained 8% over the past month. This has outpaced the Construction sector's gain of 5.37% and the S&P 500's gain of 3.5% in that time.
Investors will be eagerly watching for the performance of PulteGroup in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 30, 2024. In that report, analysts expect PulteGroup to post earnings of $3.20 per share. This would mark a year-over-year decline of 11.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.48 billion, down 13.36% from the year-ago period.
Any recent changes to analyst estimates for PulteGroup should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.35% upward. PulteGroup is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that PulteGroup has a Forward P/E ratio of 9.13 right now. This denotes a discount relative to the industry's average Forward P/E of 9.69.
It's also important to note that PHM currently trades at a PEG ratio of 0.3. 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. By the end of yesterday's trading, the Building Products - Home Builders industry had an average PEG ratio of 0.88.
The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.