PulteGroup (NYSE:PHM) Issues Earnings Results, Beats Expectations By $0.22 EPS

PulteGroup (NYSE:PHM) released its quarterly earnings results on Thursday. The construction company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.22, Zacks reports. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%.

PulteGroup Stock Performance

PHM stock opened at $113.73 on Friday. The company has a market cap of $23.32 billion, a P/E ratio of 8.39, a price-to-earnings-growth ratio of 0.49 and a beta of 1.67. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. PulteGroup has a 1 year low of $100.24 and a 1 year high of $149.47. The stock’s fifty day moving average price is $117.71 and its 200-day moving average price is $127.40.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.77%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, December 17th. PulteGroup’s payout ratio is presently 6.49%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PHM shares. Barclays cut their target price on shares of PulteGroup from $125.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday. BTIG Research lifted their price objective on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Oppenheimer dropped their price target on PulteGroup from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Wedbush reiterated an “outperform” rating and issued a $135.00 price objective on shares of PulteGroup in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

PulteGroup declared that its board has authorized a stock repurchase plan on Thursday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About PulteGroup

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, John Wieland Homes and Neighborhoods, and American West brand names.