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PulteGroup (PHM) Outpaces Stock Market Gains: What You Should Know
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The most recent trading session ended with PulteGroup (PHM - Free Report) standing at $140.06, reflecting a +0.37% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.13%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Shares of the homebuilder witnessed a gain of 13.83% over the previous month, beating the performance of the Construction sector with its gain of 5.71% and the S&P 500's gain of 3.67%.
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 October 22, 2024. The company's upcoming EPS is projected at $3.10, signifying a 6.9% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.26 billion, indicating a 6.35% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.36 per share and revenue of $17.43 billion, which would represent changes of +13.99% and +8.49%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for PulteGroup. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. PulteGroup is currently a Zacks Rank #2 (Buy).
Looking at its valuation, PulteGroup is holding a Forward P/E ratio of 10.44. This expresses a premium compared to the average Forward P/E of 10.26 of its industry.
Investors should also note that PHM has a PEG ratio of 0.55 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 1.01 at yesterday's closing price.
The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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PulteGroup (PHM) Outpaces Stock Market Gains: What You Should Know
The most recent trading session ended with PulteGroup (PHM - Free Report) standing at $140.06, reflecting a +0.37% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.13%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Shares of the homebuilder witnessed a gain of 13.83% over the previous month, beating the performance of the Construction sector with its gain of 5.71% and the S&P 500's gain of 3.67%.
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 October 22, 2024. The company's upcoming EPS is projected at $3.10, signifying a 6.9% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.26 billion, indicating a 6.35% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $13.36 per share and revenue of $17.43 billion, which would represent changes of +13.99% and +8.49%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for PulteGroup. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. PulteGroup is currently a Zacks Rank #2 (Buy).
Looking at its valuation, PulteGroup is holding a Forward P/E ratio of 10.44. This expresses a premium compared to the average Forward P/E of 10.26 of its industry.
Investors should also note that PHM has a PEG ratio of 0.55 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 1.01 at yesterday's closing price.
The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.