BTIG Research downgraded shares of PulteGroup (NYSE:PHM) from a neutral rating to a sell rating in a report issued on Thursday morning, MarketBeat.com reports. The brokerage currently has $23.00 target price on the construction company’s stock.
Several other equities research analysts have also recently weighed in on PHM. JPMorgan Chase & Co. cut shares of PulteGroup from an overweight rating to an underweight rating and lowered their price objective for the company from $37.50 to $28.00 in a research report on Friday, September 21st. ValuEngine cut shares of PulteGroup from a sell rating to a strong sell rating in a research report on Thursday, September 27th. Deutsche Bank restated a hold rating and issued a $24.00 price objective (down previously from $34.00) on shares of PulteGroup in a research report on Monday, October 22nd. Bank of America set a $32.00 price objective on shares of PulteGroup and gave the company a buy rating in a research report on Thursday, October 11th. Finally, Evercore ISI upgraded shares of PulteGroup to an outperform rating and lowered their price objective for the company from $29.00 to $28.00 in a research report on Thursday, October 25th. They noted that the move was a valuation call. Six analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. PulteGroup presently has an average rating of Hold and a consensus price target of $28.36.
PulteGroup stock traded down $0.26 during mid-day trading on Thursday, reaching $26.59. The company had a trading volume of 8,537,461 shares, compared to its average volume of 5,053,991. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.56 and a quick ratio of 0.56. PulteGroup has a 52 week low of $20.64 and a 52 week high of $35.21. The company has a market cap of $7.47 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 0.43 and a beta of 0.79.
PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 23rd. The construction company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.62 billion. PulteGroup had a net margin of 8.63% and a return on equity of 21.98%. The firm’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. Analysts expect that PulteGroup will post 3.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 3rd. Investors of record on Tuesday, December 18th were paid a dividend of $0.11 per share. This is a positive change from PulteGroup’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, December 17th. This represents a $0.44 annualized dividend and a yield of 1.65%. PulteGroup’s dividend payout ratio (DPR) is presently 20.09%.
Institutional investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. bought a new position in PulteGroup in the third quarter valued at approximately $145,000. Rehmann Capital Advisory Group lifted its stake in PulteGroup by 54.9% in the second quarter. Rehmann Capital Advisory Group now owns 6,187 shares of the construction company’s stock valued at $178,000 after buying an additional 2,193 shares in the last quarter. McKinley Carter Wealth Services Inc. bought a new position in PulteGroup in the third quarter valued at approximately $259,000. Alambic Investment Management L.P. bought a new position in PulteGroup in the third quarter valued at approximately $261,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in PulteGroup in the third quarter valued at approximately $280,000. 87.80% of the stock is currently owned by institutional investors and hedge funds.
PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
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