Yahoo Finance PulteGroup (PHM) Gains As Market Dips: What You Should Know
In the latest trading session, PulteGroup (PHM) closed at $112.68, marking a +0.99% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.31%. Elsewhere, the Dow gained 0.67%, while the tech-heavy Nasdaq lost 1.09%.
The homebuilder's stock has dropped by 2.39% in the past month, exceeding the Construction sector's loss of 4.24% and lagging the S&P 500's gain of 2.73%.
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 July 23, 2024. The company is predicted to post an EPS of $3.20, indicating a 6.67% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.48 billion, indicating a 6.9% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $12.89 per share and a revenue of $17.34 billion, signifying shifts of +9.98% and +7.94%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for PulteGroup. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, PulteGroup is carrying a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, PulteGroup is holding a Forward P/E ratio of 8.66. For comparison, its industry has an average Forward P/E of 8.3, which means PulteGroup is trading at a premium to the group.
One should further note that PHM currently holds a PEG ratio of 0.49. 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. The Building Products - Home Builders industry currently had an average PEG ratio of 0.83 as of yesterday's close.
The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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PulteGroup, Inc. (PHM) : Free Stock Analysis Report
