Can PulteGroup Inc (PHM) stock recover despite sales dropping?

In yesterday’s Wall Street session, PulteGroup Inc (NYSE:PHM) shares traded at $80.17, up 3.81% from the previous session.

18 analysts cover PulteGroup Inc (NYSE:PHM), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $117.00 and a low of $80.00, we find $93.00. Given the previous closing price of $77.23, this indicates a potential upside of 20.42 percent. PHM stock price is now 6.53% away from the 50-day moving average and 16.61% away from the 200-day moving average. The market capitalization of the company currently stands at $17.28B.

The stock has received a hold rating from 3 analysts and a buy rating from 12. Brokers who have rated the stock have averaged $93.82 as their price target over the next twelve months.

With the price target of $80, Wells Fargo recently initiated with Overweight rating for PulteGroup Inc (NYSE: PHM).

In other news, Snyder Lila, Director sold 4,000 shares of the company’s stock on Aug 03. The stock was sold for $322,936 at an average price of $80.73. Upon completion of the transaction, the Director now directly owns 5,540 shares in the company, valued at $0.44 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 28, Exec. VP & CFO OShaughnessy Robert sold 115,102 shares of the business’s stock. A total of $7,700,094 was realized by selling the stock at an average price of $66.90. This leaves the insider owning 177,564 shares of the company worth $14.24 million. Insiders disposed of 414,069 shares of company stock worth roughly $33.2 million over the past 1 year. A total of 0.68% of the company’s stock is owned by insiders.

On Thursday morning PulteGroup Inc (NYSE: PHM) stock kicked off with the opening price of $79.31. During the past 12 months, PulteGroup Inc has had a low of $37.06 and a high of $86.15. As of last week, the company has a debt-to-equity ratio of 0.25, a current ratio of 4.08, and a quick ratio of 0.57. According to the stock market information, the enterprise value for the company is $17.84B, which is based on a 6.52 price-to-earnings ratio, a 1.23 price-to-earnings-growth ratio, and a beta of 1.44. The fifty day moving average price for PHM is $75.27 and a two-hundred day moving average price translates $68.90 for the stock.

The latest earnings results from PulteGroup Inc (NYSE: PHM) was released for Sep, 2023. According to the Residential Construction Company, earnings per share came in at $3, beating analysts’ expectations of $2.51 by 0.49. This compares to $2.69 EPS in the same period last year. The net profit margin was 16.30% and return on equity was 30.38% for PHM. The company reported revenue of $4.0 billion for the quarter, compared to $3.9 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.78 percent. For the current quarter, analysts expect PHM to generate $4.02B in revenue.

PulteGroup Inc(PHM) Company Profile

PulteGroup, Inc., through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, American West, and John Wieland Homes and Neighborhoods brand names. As of December 31, 2022, it controlled 211,112 lots, of which 108,848 were owned and 102,264 were under land option agreements. In addition, the company arranges financing through the origination of mortgage loans primarily for homebuyers; sells the servicing rights for the originated loans; and provides title insurance policies, and examination and closing services to homebuyers. The company was founded in 1950 and is headquartered in Atlanta, Georgia.

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