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PulteGroup (PHM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest market close, PulteGroup (PHM - Free Report) reached $101.55, with a -1.62% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.57%. Meanwhile, the Dow experienced a rise of 0.07%, and the technology-dominated Nasdaq saw a decrease of 1.64%.
Shares of the homebuilder have appreciated by 13.4% over the course of the past month, outperforming the Construction sector's gain of 10.72% and the S&P 500's gain of 4%.
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. 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%. Alongside, our most recent consensus estimate is anticipating revenue of $4.48 billion, indicating a 13.36% downward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for PulteGroup. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. PulteGroup is currently a Zacks Rank #2 (Buy).
Looking at valuation, PulteGroup is presently trading at a Forward P/E ratio of 9.08. This indicates a discount in contrast to its industry's Forward P/E of 9.88.
It is also worth noting that PHM currently has a PEG ratio of 0.3. 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 had an average PEG ratio of 0.88 as trading concluded yesterday.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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 (PHM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest market close, PulteGroup (PHM - Free Report) reached $101.55, with a -1.62% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.57%. Meanwhile, the Dow experienced a rise of 0.07%, and the technology-dominated Nasdaq saw a decrease of 1.64%.
Shares of the homebuilder have appreciated by 13.4% over the course of the past month, outperforming the Construction sector's gain of 10.72% and the S&P 500's gain of 4%.
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. 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%. Alongside, our most recent consensus estimate is anticipating revenue of $4.48 billion, indicating a 13.36% downward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for PulteGroup. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. PulteGroup is currently a Zacks Rank #2 (Buy).
Looking at valuation, PulteGroup is presently trading at a Forward P/E ratio of 9.08. This indicates a discount in contrast to its industry's Forward P/E of 9.88.
It is also worth noting that PHM currently has a PEG ratio of 0.3. 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 had an average PEG ratio of 0.88 as trading concluded yesterday.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.