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PulteGroup (PHM) Outpaces Stock Market Gains: What You Should Know
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The latest trading session saw PulteGroup (PHM - Free Report) ending at $113.40, denoting a +1.67% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.26% for the day. Meanwhile, the Dow gained 0.18%, and the Nasdaq, a tech-heavy index, added 0.35%.
Coming into today, shares of the homebuilder had lost 5.22% in the past month. In that same time, the Construction sector lost 4%, while the S&P 500 gained 3.25%.
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. On that day, PulteGroup is projected to report earnings of $3.20 per share, which would represent year-over-year growth of 6.67%. At the same time, our most recent consensus estimate is projecting a revenue of $4.48 billion, reflecting a 6.9% rise from the equivalent quarter last 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.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, PulteGroup boasts a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that PulteGroup has a Forward P/E ratio of 8.65 right now. This represents a premium compared to its industry's average Forward P/E of 8.35.
One should further note that PHM currently holds a PEG ratio of 0.49. 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. By the end of yesterday's trading, the Building Products - Home Builders industry had an average PEG ratio of 0.82.
The Building Products - Home Builders industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 27, positioning it in the top 11% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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PulteGroup (PHM) Outpaces Stock Market Gains: What You Should Know
The latest trading session saw PulteGroup (PHM - Free Report) ending at $113.40, denoting a +1.67% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.26% for the day. Meanwhile, the Dow gained 0.18%, and the Nasdaq, a tech-heavy index, added 0.35%.
Coming into today, shares of the homebuilder had lost 5.22% in the past month. In that same time, the Construction sector lost 4%, while the S&P 500 gained 3.25%.
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. On that day, PulteGroup is projected to report earnings of $3.20 per share, which would represent year-over-year growth of 6.67%. At the same time, our most recent consensus estimate is projecting a revenue of $4.48 billion, reflecting a 6.9% rise from the equivalent quarter last 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.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, PulteGroup boasts a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that PulteGroup has a Forward P/E ratio of 8.65 right now. This represents a premium compared to its industry's average Forward P/E of 8.35.
One should further note that PHM currently holds a PEG ratio of 0.49. 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. By the end of yesterday's trading, the Building Products - Home Builders industry had an average PEG ratio of 0.82.
The Building Products - Home Builders industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 27, positioning it in the top 11% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.