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PulteGroup (PHM) Laps the Stock Market: Here's Why
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PulteGroup (PHM - Free Report) ended the recent trading session at $132.70, demonstrating a +0.84% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.45%. Elsewhere, the Dow lost 0.23%, while the tech-heavy Nasdaq added 0.84%.
Shares of the homebuilder witnessed a gain of 7.9% over the previous month, beating the performance of the Construction sector with its gain of 1.61% and the S&P 500's gain of 2.54%.
The investment community will be paying close attention to the earnings performance of PulteGroup in its upcoming release. The company is slated to reveal its earnings on October 22, 2024. The company is expected to report EPS of $3.10, up 6.9% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $4.26 billion, indicating a 6.35% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $13.36 per share and revenue of $17.43 billion, indicating changes of +13.99% and +8.49%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for PulteGroup. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, PulteGroup boasts a Zacks Rank of #2 (Buy).
Investors should also note PulteGroup's current valuation metrics, including its Forward P/E ratio of 9.85. This expresses a premium compared to the average Forward P/E of 9.53 of its industry.
One should further note that PHM currently holds a PEG ratio of 0.52. 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. As the market closed yesterday, the Building Products - Home Builders industry was having an average PEG ratio of 0.96.
The Building Products - Home Builders industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 22, placing it within the top 9% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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PulteGroup (PHM) Laps the Stock Market: Here's Why
PulteGroup (PHM - Free Report) ended the recent trading session at $132.70, demonstrating a +0.84% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.45%. Elsewhere, the Dow lost 0.23%, while the tech-heavy Nasdaq added 0.84%.
Shares of the homebuilder witnessed a gain of 7.9% over the previous month, beating the performance of the Construction sector with its gain of 1.61% and the S&P 500's gain of 2.54%.
The investment community will be paying close attention to the earnings performance of PulteGroup in its upcoming release. The company is slated to reveal its earnings on October 22, 2024. The company is expected to report EPS of $3.10, up 6.9% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $4.26 billion, indicating a 6.35% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $13.36 per share and revenue of $17.43 billion, indicating changes of +13.99% and +8.49%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for PulteGroup. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, PulteGroup boasts a Zacks Rank of #2 (Buy).
Investors should also note PulteGroup's current valuation metrics, including its Forward P/E ratio of 9.85. This expresses a premium compared to the average Forward P/E of 9.53 of its industry.
One should further note that PHM currently holds a PEG ratio of 0.52. 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. As the market closed yesterday, the Building Products - Home Builders industry was having an average PEG ratio of 0.96.
The Building Products - Home Builders industry is part of the Construction sector. At present, this industry carries a Zacks Industry Rank of 22, placing it within the top 9% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.