We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PulteGroup Brings Back Centex to Expand First-Time Buyer Base
Read MoreHide Full Article
Atlanta-based homebuilder PulteGroup, Inc. (PHM - Free Report) announced the relaunch of its Centex brand and plans to develop high quality and affordable home communities in Georgia for first-time buyers. The communities will include smart technology.
The latest Centex community, Princeton Village, is now open in Palmetto, GA. It will be followed by new communities in the East Gwinnett and Mill Creek areas of Gwinnett County, and in McDonough in Henry County.
Centex did not have a presence in Metro Atlanta market since 2011. So, the relaunch aims at capitalizing on the growing first-time buyer segment in Georgia.
Rising interest and mortgage rates as well as land and labor shortages are plaguing the U.S. homebuilding industry of late, as are increasing material prices. High mortgage rates dilute the demand for new homes as mortgage loans become expensive, thereby impacting affordability, especially for first-time buyers.
Hence, the latest move underscores PulteGroup’s efforts to cash in on the solid demand for more affordably-priced homes throughout Metro Atlanta.The new and existing home sales in the Metro Atlanta area were favorably priced under $250,000. So, the company attempts to make the Centex brand well-positioned to provide family-oriented buyers affordable homes.
Meanwhile, the overall fundamentals of the U.S. housing market are expected to remain positive through the balance of 2018 and improve in 2019, courtesy of an enhanced economic scenario and solid job market. This reflects on PulteGroup’s stock, which has gained 1.6% in the past year against the industry’s decline of 1.3%.
In fact, the company’s stellar performance is a testimony to the fact. In the second quarter of 2018, PulteGroup’s total homebuilding revenues were up 27.9% year over year to $2.52 billion. Home sale revenues of $2.5 billion rose 25% year over year on increased deliveries and average selling price. The company’s top line was driven by higher demand, courtesy of positive U.S. housing market dynamics, backed by an improving economy and job market.
Beazer Homes has an average positive earnings surprise of 169.7% for the last four quarters.
Century Communities has an average positive earnings surprise of 55.3% for the trailing four quarters.
D.R. Horton has an expected earnings per share growth rate of 41.2% for the current year.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025.
Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
Image: Bigstock
PulteGroup Brings Back Centex to Expand First-Time Buyer Base
Atlanta-based homebuilder PulteGroup, Inc. (PHM - Free Report) announced the relaunch of its Centex brand and plans to develop high quality and affordable home communities in Georgia for first-time buyers. The communities will include smart technology.
The latest Centex community, Princeton Village, is now open in Palmetto, GA. It will be followed by new communities in the East Gwinnett and Mill Creek areas of Gwinnett County, and in McDonough in Henry County.
Centex did not have a presence in Metro Atlanta market since 2011. So, the relaunch aims at capitalizing on the growing first-time buyer segment in Georgia.
Rising interest and mortgage rates as well as land and labor shortages are plaguing the U.S. homebuilding industry of late, as are increasing material prices. High mortgage rates dilute the demand for new homes as mortgage loans become expensive, thereby impacting affordability, especially for first-time buyers.
Hence, the latest move underscores PulteGroup’s efforts to cash in on the solid demand for more affordably-priced homes throughout Metro Atlanta.The new and existing home sales in the Metro Atlanta area were favorably priced under $250,000. So, the company attempts to make the Centex brand well-positioned to provide family-oriented buyers affordable homes.
.jpg)
Meanwhile, the overall fundamentals of the U.S. housing market are expected to remain positive through the balance of 2018 and improve in 2019, courtesy of an enhanced economic scenario and solid job market. This reflects on PulteGroup’s stock, which has gained 1.6% in the past year against the industry’s decline of 1.3%.
In fact, the company’s stellar performance is a testimony to the fact. In the second quarter of 2018, PulteGroup’s total homebuilding revenues were up 27.9% year over year to $2.52 billion. Home sale revenues of $2.5 billion rose 25% year over year on increased deliveries and average selling price. The company’s top line was driven by higher demand, courtesy of positive U.S. housing market dynamics, backed by an improving economy and job market.
Zacks Rank & Other Stocks to Consider
PulteGroup carries a Zacks Rank #1 (Strong Buy).
Other top-ranked stocks in the industry are Beazer Homes USA, Inc. (BZH - Free Report) , Century Communities, Inc. (CCS - Free Report) and D.R. Horton, Inc. (DHI - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Beazer Homes has an average positive earnings surprise of 169.7% for the last four quarters.
Century Communities has an average positive earnings surprise of 55.3% for the trailing four quarters.
D.R. Horton has an expected earnings per share growth rate of 41.2% for the current year.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025.
Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
Click to see them right now >>