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PulteGroup (PHM) Stock Drops Despite Market Gains: Important Facts to Note
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PulteGroup (PHM - Free Report) closed at $104.70 in the latest trading session, marking a -0.53% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.07%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.14%.
Shares of the homebuilder have depreciated by 7.18% over the course of the past month, underperforming the Construction sector's loss of 3.35% and the S&P 500's gain of 4.34%.
The investment community will be closely monitoring the performance of PulteGroup in its forthcoming earnings report. The company is scheduled to release its earnings on July 23, 2024. The company's upcoming EPS is projected at $3.20, signifying a 6.67% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.48 billion, up 6.9% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $12.89 per share and a revenue of $17.34 billion, representing changes of +9.98% and +7.94%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for PulteGroup. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. PulteGroup currently has a Zacks Rank of #3 (Hold).
In terms of valuation, PulteGroup is presently being traded at a Forward P/E ratio of 8.17. This signifies a premium in comparison to the average Forward P/E of 8.01 for its industry.
Investors should also note that PHM has a PEG ratio of 0.46 right now. 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 was holding an average PEG ratio of 0.76 at yesterday's closing price.
The Building Products - Home Builders industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 166, positioning it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow PHM in the coming trading sessions, be sure to utilize Zacks.com.
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PulteGroup (PHM) Stock Drops Despite Market Gains: Important Facts to Note
PulteGroup (PHM - Free Report) closed at $104.70 in the latest trading session, marking a -0.53% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.07%. Elsewhere, the Dow lost 0.13%, while the tech-heavy Nasdaq added 0.14%.
Shares of the homebuilder have depreciated by 7.18% over the course of the past month, underperforming the Construction sector's loss of 3.35% and the S&P 500's gain of 4.34%.
The investment community will be closely monitoring the performance of PulteGroup in its forthcoming earnings report. The company is scheduled to release its earnings on July 23, 2024. The company's upcoming EPS is projected at $3.20, signifying a 6.67% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.48 billion, up 6.9% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $12.89 per share and a revenue of $17.34 billion, representing changes of +9.98% and +7.94%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for PulteGroup. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. PulteGroup currently has a Zacks Rank of #3 (Hold).
In terms of valuation, PulteGroup is presently being traded at a Forward P/E ratio of 8.17. This signifies a premium in comparison to the average Forward P/E of 8.01 for its industry.
Investors should also note that PHM has a PEG ratio of 0.46 right now. 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 was holding an average PEG ratio of 0.76 at yesterday's closing price.
The Building Products - Home Builders industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 166, positioning it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow PHM in the coming trading sessions, be sure to utilize Zacks.com.