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PulteGroup (PHM) Suffers a Larger Drop Than the General Market: Key Insights
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The latest trading session saw PulteGroup (PHM - Free Report) ending at $118.43, denoting a -1.82% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.2%. Elsewhere, the Dow saw a downswing of 0.6%, while the tech-heavy Nasdaq appreciated by 0.11%.
Heading into today, shares of the homebuilder had gained 8.46% over the past month, outpacing the Construction sector's gain of 6.55% and the S&P 500's gain of 3.32% in that time.
The upcoming earnings release of PulteGroup will be of great interest to investors. The company's earnings report is expected on April 23, 2024. The company's earnings per share (EPS) are projected to be $2.36, reflecting a 0.43% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.59 billion, up 0.37% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.78 per share and revenue of $16.89 billion. These totals would mark changes of +0.51% and +5.15%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for PulteGroup. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.1% upward. PulteGroup presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that PulteGroup has a Forward P/E ratio of 10.24 right now. This denotes no noticeable deviation relative to the industry's average Forward P/E of 10.24.
Also, we should mention that PHM has a PEG ratio of 0.81. 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. The Building Products - Home Builders industry currently had an average PEG ratio of 0.94 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 48, which puts it in the top 20% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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PulteGroup (PHM) Suffers a Larger Drop Than the General Market: Key Insights
The latest trading session saw PulteGroup (PHM - Free Report) ending at $118.43, denoting a -1.82% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.2%. Elsewhere, the Dow saw a downswing of 0.6%, while the tech-heavy Nasdaq appreciated by 0.11%.
Heading into today, shares of the homebuilder had gained 8.46% over the past month, outpacing the Construction sector's gain of 6.55% and the S&P 500's gain of 3.32% in that time.
The upcoming earnings release of PulteGroup will be of great interest to investors. The company's earnings report is expected on April 23, 2024. The company's earnings per share (EPS) are projected to be $2.36, reflecting a 0.43% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.59 billion, up 0.37% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.78 per share and revenue of $16.89 billion. These totals would mark changes of +0.51% and +5.15%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for PulteGroup. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.1% upward. PulteGroup presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that PulteGroup has a Forward P/E ratio of 10.24 right now. This denotes no noticeable deviation relative to the industry's average Forward P/E of 10.24.
Also, we should mention that PHM has a PEG ratio of 0.81. 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. The Building Products - Home Builders industry currently had an average PEG ratio of 0.94 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 48, which puts it in the top 20% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.