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PulteGroup (PHM) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, PulteGroup (PHM - Free Report) closed at $73.93, marking a -0.01% move from the previous day. This move lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.45%.
Coming into today, shares of the homebuilder had lost 4.19% in the past month. In that same time, the Construction sector lost 4.84%, while the S&P 500 lost 1.38%.
Wall Street will be looking for positivity from PulteGroup as it approaches its next earnings report date. This is expected to be October 24, 2023. The company is expected to report EPS of $2.79, up 3.72% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.04 billion, up 2.41% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.62 per share and revenue of $16.49 billion. These totals would mark changes of +7.59% and +1.6%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for PulteGroup. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. PulteGroup is currently a Zacks Rank #1 (Strong Buy).
Investors should also note PulteGroup's current valuation metrics, including its Forward P/E ratio of 6.36. For comparison, its industry has an average Forward P/E of 8.24, which means PulteGroup is trading at a discount to the group.
It is also worth noting that PHM currently has a PEG ratio of 0.6. 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. PHM's industry had an average PEG ratio of 0.68 as of yesterday's close.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, PulteGroup (PHM - Free Report) closed at $73.93, marking a -0.01% move from the previous day. This move lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.45%.
Coming into today, shares of the homebuilder had lost 4.19% in the past month. In that same time, the Construction sector lost 4.84%, while the S&P 500 lost 1.38%.
Wall Street will be looking for positivity from PulteGroup as it approaches its next earnings report date. This is expected to be October 24, 2023. The company is expected to report EPS of $2.79, up 3.72% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.04 billion, up 2.41% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.62 per share and revenue of $16.49 billion. These totals would mark changes of +7.59% and +1.6%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for PulteGroup. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. PulteGroup is currently a Zacks Rank #1 (Strong Buy).
Investors should also note PulteGroup's current valuation metrics, including its Forward P/E ratio of 6.36. For comparison, its industry has an average Forward P/E of 8.24, which means PulteGroup is trading at a discount to the group.
It is also worth noting that PHM currently has a PEG ratio of 0.6. 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. PHM's industry had an average PEG ratio of 0.68 as of yesterday's close.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 5, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.