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Why the Market Dipped But PulteGroup (PHM) Gained Today
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In the latest market close, PulteGroup (PHM - Free Report) reached $144.62, with a +1.46% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 1.01%.
Heading into today, shares of the homebuilder had gained 1.77% over the past month, lagging the Construction sector's gain of 2.69% and the S&P 500's gain of 4.31% in that time.
The upcoming earnings release of PulteGroup will be of great interest to investors. The company's earnings report is expected on October 22, 2024. On that day, PulteGroup is projected to report earnings of $3.10 per share, which would represent year-over-year growth of 6.9%. Simultaneously, our latest consensus estimate expects the revenue to be $4.26 billion, showing a 6.35% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $13.36 per share and revenue of $17.43 billion, indicating changes of +13.99% and +8.49%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for PulteGroup. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. PulteGroup is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, PulteGroup is currently trading at a Forward P/E ratio of 10.67. This indicates a premium in contrast to its industry's Forward P/E of 10.27.
One should further note that PHM currently holds 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. The average PEG ratio for the Building Products - Home Builders industry stood at 0.97 at the close of the market yesterday.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why the Market Dipped But PulteGroup (PHM) Gained Today
In the latest market close, PulteGroup (PHM - Free Report) reached $144.62, with a +1.46% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 1.01%.
Heading into today, shares of the homebuilder had gained 1.77% over the past month, lagging the Construction sector's gain of 2.69% and the S&P 500's gain of 4.31% in that time.
The upcoming earnings release of PulteGroup will be of great interest to investors. The company's earnings report is expected on October 22, 2024. On that day, PulteGroup is projected to report earnings of $3.10 per share, which would represent year-over-year growth of 6.9%. Simultaneously, our latest consensus estimate expects the revenue to be $4.26 billion, showing a 6.35% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $13.36 per share and revenue of $17.43 billion, indicating changes of +13.99% and +8.49%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for PulteGroup. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. PulteGroup is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, PulteGroup is currently trading at a Forward P/E ratio of 10.67. This indicates a premium in contrast to its industry's Forward P/E of 10.27.
One should further note that PHM currently holds 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. The average PEG ratio for the Building Products - Home Builders industry stood at 0.97 at the close of the market yesterday.
The Building Products - Home Builders industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.