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PulteGroup (PHM) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest trading session, PulteGroup (PHM - Free Report) closed at $143.54, marking a +1.18% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow experienced a rise of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.15%.
Shares of the homebuilder have appreciated by 4.98% over the course of the past month, underperforming the Construction sector's gain of 7.51% and outperforming the S&P 500's gain of 2%.
Analysts and investors alike will be keeping a close eye on the performance of PulteGroup in its upcoming earnings disclosure. The company's earnings report is set to go public on October 22, 2024. The company is forecasted to report an EPS of $3.10, showcasing a 6.9% upward movement from the corresponding quarter of the prior year. 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.
For the full year, the Zacks Consensus Estimates project earnings of $13.36 per share and a revenue of $17.43 billion, demonstrating changes of +13.99% and +8.49%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for PulteGroup. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. PulteGroup is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, PulteGroup is currently trading at a Forward P/E ratio of 10.62. For comparison, its industry has an average Forward P/E of 10.41, which means PulteGroup is trading at a premium to the group.
It is also worth noting that PHM currently has a PEG ratio of 0.56. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Building Products - Home Builders industry held an average PEG ratio of 1.01.
The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 41, putting it in the top 17% of all 250+ industries.
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.
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) Surpasses Market Returns: Some Facts Worth Knowing
In the latest trading session, PulteGroup (PHM - Free Report) closed at $143.54, marking a +1.18% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow experienced a rise of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.15%.
Shares of the homebuilder have appreciated by 4.98% over the course of the past month, underperforming the Construction sector's gain of 7.51% and outperforming the S&P 500's gain of 2%.
Analysts and investors alike will be keeping a close eye on the performance of PulteGroup in its upcoming earnings disclosure. The company's earnings report is set to go public on October 22, 2024. The company is forecasted to report an EPS of $3.10, showcasing a 6.9% upward movement from the corresponding quarter of the prior year. 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.
For the full year, the Zacks Consensus Estimates project earnings of $13.36 per share and a revenue of $17.43 billion, demonstrating changes of +13.99% and +8.49%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for PulteGroup. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. PulteGroup is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, PulteGroup is currently trading at a Forward P/E ratio of 10.62. For comparison, its industry has an average Forward P/E of 10.41, which means PulteGroup is trading at a premium to the group.
It is also worth noting that PHM currently has a PEG ratio of 0.56. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Building Products - Home Builders industry held an average PEG ratio of 1.01.
The Building Products - Home Builders industry is part of the Construction sector. This group has a Zacks Industry Rank of 41, putting it in the top 17% of all 250+ industries.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.