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PulteGroup (PHM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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The most recent trading session ended with PulteGroup (PHM - Free Report) standing at $104.12, reflecting a -0.75% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.37%. At the same time, the Dow lost 0.62%, and the tech-heavy Nasdaq lost 0.19%.
Coming into today, shares of the homebuilder had gained 2.85% in the past month. In that same time, the Construction sector lost 0.65%, while the S&P 500 gained 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of PulteGroup in its upcoming earnings disclosure. The company's earnings report is set to go public on January 30, 2024. The company is expected to report EPS of $3.20, down 11.85% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $4.48 billion, reflecting a 13.33% fall from the equivalent quarter last year.
Any recent changes to analyst estimates for PulteGroup should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.35% higher. PulteGroup is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note PulteGroup's current valuation metrics, including its Forward P/E ratio of 9.23. Its industry sports an average Forward P/E of 9.65, so one might conclude that PulteGroup is trading at a discount comparatively.
It is also worth noting that PHM currently has a PEG ratio of 0.31. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Building Products - Home Builders industry held an average PEG ratio of 0.83.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 14, which puts it in the top 6% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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PulteGroup (PHM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The most recent trading session ended with PulteGroup (PHM - Free Report) standing at $104.12, reflecting a -0.75% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.37%. At the same time, the Dow lost 0.62%, and the tech-heavy Nasdaq lost 0.19%.
Coming into today, shares of the homebuilder had gained 2.85% in the past month. In that same time, the Construction sector lost 0.65%, while the S&P 500 gained 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of PulteGroup in its upcoming earnings disclosure. The company's earnings report is set to go public on January 30, 2024. The company is expected to report EPS of $3.20, down 11.85% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $4.48 billion, reflecting a 13.33% fall from the equivalent quarter last year.
Any recent changes to analyst estimates for PulteGroup should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.35% higher. PulteGroup is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note PulteGroup's current valuation metrics, including its Forward P/E ratio of 9.23. Its industry sports an average Forward P/E of 9.65, so one might conclude that PulteGroup is trading at a discount comparatively.
It is also worth noting that PHM currently has a PEG ratio of 0.31. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Building Products - Home Builders industry held an average PEG ratio of 0.83.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 14, which puts it in the top 6% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.