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PulteGroup (PHM) Ascends But Remains Behind Market: Some Facts to Note
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The latest trading session saw PulteGroup (PHM - Free Report) ending at $143.49, denoting a +0.22% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.42%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.38%.
Shares of the homebuilder have appreciated by 8.75% over the course of the past month, outperforming the Construction sector's gain of 5.79% and the S&P 500's gain of 2.06%.
Market participants will be closely following the financial results of PulteGroup in its upcoming release. The company plans to announce its earnings 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. Our most recent consensus estimate is calling for quarterly revenue of $4.26 billion, up 6.35% from the year-ago period.
PHM's full-year Zacks Consensus Estimates are calling for earnings of $13.36 per share and revenue of $17.43 billion. These results would represent year-over-year changes of +13.99% and +8.49%, respectively.
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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. PulteGroup presently features a Zacks Rank of #2 (Buy).
Looking at valuation, PulteGroup is presently trading at a Forward P/E ratio of 10.71. This represents a premium compared to its industry's average Forward P/E of 10.49.
Meanwhile, PHM's PEG ratio is currently 0.56. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. PHM's industry had an average PEG ratio of 1.03 as of yesterday's close.
The Building Products - Home Builders industry is part of the Construction sector. With its current Zacks Industry Rank of 37, this industry ranks in the top 15% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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PulteGroup (PHM) Ascends But Remains Behind Market: Some Facts to Note
The latest trading session saw PulteGroup (PHM - Free Report) ending at $143.49, denoting a +0.22% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.42%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.38%.
Shares of the homebuilder have appreciated by 8.75% over the course of the past month, outperforming the Construction sector's gain of 5.79% and the S&P 500's gain of 2.06%.
Market participants will be closely following the financial results of PulteGroup in its upcoming release. The company plans to announce its earnings 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. Our most recent consensus estimate is calling for quarterly revenue of $4.26 billion, up 6.35% from the year-ago period.
PHM's full-year Zacks Consensus Estimates are calling for earnings of $13.36 per share and revenue of $17.43 billion. These results would represent year-over-year changes of +13.99% and +8.49%, respectively.
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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. PulteGroup presently features a Zacks Rank of #2 (Buy).
Looking at valuation, PulteGroup is presently trading at a Forward P/E ratio of 10.71. This represents a premium compared to its industry's average Forward P/E of 10.49.
Meanwhile, PHM's PEG ratio is currently 0.56. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. PHM's industry had an average PEG ratio of 1.03 as of yesterday's close.
The Building Products - Home Builders industry is part of the Construction sector. With its current Zacks Industry Rank of 37, this industry ranks in the top 15% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.