La vendita allo scoperto per PulteGroup dà agli investitori un'idea del grado in cui gli investitori stanno scommettendo sul declino delle azioni di PulteGroup. I dati relativi alle vendite allo scoperto vengono aggiornati ogni due settimane.

PulteGroup (NYSE:PHM) Azioni, Report sulle vendite allo scoperto

PulteGroup

PulteGroup Inc is a homebuilder in the United States. The company mainly builds single-family detached homes, and offers products to entry-level, move-up, and active-adult buyers. It also offers homebuyers mortgage financing, title, and insurance agency services through its financial services segment.

PulteGroup Inc

PHARMACOM BIOVET INC by PharmaCom BioVet, Inc.

PharmaCom BioVet Inc

Pharma Mar SA

PHOENIX MECANO AG STEIN by PHOENIX MECANO AG STEIN AM RHEIN

Phoenix Mecano AG

Looking into the current session, PulteGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) shares are trading at $127.00, after a 1.22% drop. Over the past month, the stock fell by 3.59%, but over the past year, it actually went up by 46.70%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2024/1732042810_0.png" alt="Past Year Chart" />

<h3>How Does PulteGroup P/E Compare to Other Companies?</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
PulteGroup has a lower P/E than the aggregate P/E of 13.94 of the Household Durables industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1732042810_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

News

Intraday Update

Markets

Price Over Earnings Overview: PulteGroup

Dividends

PulteGroup Increases Quarterly Cash Dividend From $0.20 To $0.22

PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) has outperformed the market over the past 10 years by 9.19% on an annualized basis producing an average annual return of 20.02%. Currently, PulteGroup has a market capitalization of $26.67 billion. 
Buying $1000 In PHM: If an investor had bought $1000 of PHM stock 10 years ago, it would be worth $6,403.50 today based on a price of $130.06 for PHM at the time of writing.
<h3>PulteGroup's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730748620_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$1000 Invested In This Stock 10 Years Ago Would Be Worth $6,400 Today

Macro Economic Events

Macro Notification

Econ #s

Economics

General

MDCE

TMHC

USA Pending Home Sales (MoM) For September 7.4% Vs 1.9% Est.; 0.6% Prior

WIIM

BLDR

Shares of homebuilders and housing-related stocks are trading lower in possible sympathy with D.R. Horton, which reported worse-than-expected Q4 EPS and sales.

Former President Donald Trump previously spent four years in the White House, which could help investors know which stocks and sectors could benefit under a second term if he wins the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election.</a>
Here's a look back at the top performing stocks in 2017, Trump's first year in the White House.
Top Performing 2017 Stocks: The stock markets saw impressive gains in 2017, which were among the best ever for a president's <a href="https://www.benzinga.com/markets/futures/18/01/11066769/the-stock-markets-rally-under-trump-among-the-best-ever-heres-how-his">first year in the White House.</a>
The S&amp;P 500, which is tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), gained 21.7% in 2017, an impressive gain to the +12.0% increase in 2016, as presidential election years have historically produced outperformance to other years.
With the potential for Trump to be re-elected in 2024, here's a look back at the top 10 performing stocks in the S&amp;P 500 from 2017, as reported previously by <a href="https://www.marketwatch.com/story/biggest-sp-500-winners-and-losers-of-2017-tech-health-care-and-home-builders-lead-2017-12-29">Marketwatch</a>.
<ol>
<li>NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>): +132%, utilities</li>
<li>Align Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGN#NASDAQ">ALGN</a>): +131%, health care</li>
<li>Vertex Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>): +103%, health care</li>
<li>Wynn Resorts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>): +95%, consumer discretionary</li>
<li>Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>): +89%, industrials</li>
<li>Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>): +88%, technology</li>
<li>D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>): +87%, consumer discretionary, homebuilders</li>
<li>PayPal Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>): +87%, technology</li>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>): +81%, technology</li>
<li>Pulte Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>): 81%, consumer discretionary, homebuilders</li>
</ol>
The top 10 stocks in 2017 likely saw gains related to reasons that didn't have to do with Trump being president, but there are also some common themes and some potential connections to the former president.
The results show that health care, consumer discretionary and technology stocks were among the top-performing sectors.
Of particular note is Micron and Nvidia, both ranking in the top 10, a potential positive for the semiconductor sector under a Trump presidency.
Another key trend could be two homebuilders ranking among the top 10 best-performing stocks in 2017. Homebuilders have been a popular sector to watch under a possible Kamala Harris win with the current vice president and Trump running on a platform of <a href="https://www.benzinga.com/general/politics/24/08/40424431/harris-warns-trump-tax-plan-will-devastate-americans-vows-to-go-after-bad-actors-behind-food-pri">building more homes</a> for the middle class.
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent102824">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: While past results don't guarantee future results, sometimes market trends can show patterns and signs of what to come.
Based on the top-performing stocks in 2017, investors may want to prepare for some <a href="https://www.benzinga.com/markets/equities/24/10/41213583/what-a-trump-win-could-mean-for-financial-energy-stocks-lessons-from-2016">exposure to health care</a>, utilities, semiconductors and homebuilders if Trump wins the 2024 election.
With less than two weeks until the 2024 election, investors are likely positioning their portfolios based on a Trump or Harris win in some regards. With a close election predicted, investors may want to look to sectors that could benefit under either candidate.
Freedom Capital Markets Chief Global Strategist Jay Woods previously shared some <a href="https://www.benzinga.com/etfs/sector-etfs/24/08/40515453/exclusive-trump-or-harris-12-stocks-2-etfs-could-win-no-matter-whos-president-says-market-strate">sectors and stocks to watch</a> with Benzinga that could benefit regardless of whether Trump or Harris wins the 2024 election.
Woods named defense stocks and cybersecurity stocks as two of the top sectors to watch ahead of the 2024 election.
"I think you've got to watch this sector closely," Woods said of the defense sector.
Woods said defense stocks could continue to benefit from geopolitical concerns and a lot of bad things happening in the world.
Read Next: 
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<li><a href="https://www.benzinga.com/general/sports-betting/24/10/41534317/if-trump-wins-2024-election-in-landslide-bettors-could-make-5x-20x-their-bets-at-uk-sports">If Trump Wins 2024 Election In Landslide, Bettors Could Make 5X, 20X Their Bets At UK Sportsbook</a></li>
</ul>
Photo: Shutterstock

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These 10 Stocks Were The Best S&P 500 Performers In 2017 When Trump Was President: Will History Repeat Itself?

UBS analyst John Lovallo maintains PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) with a Neutral and raises the price target from $148 to $154.

Price Target

Analyst Ratings

UBS Maintains Neutral on PulteGroup, Raises Price Target to $154

Evercore ISI Group analyst Stephen Kim maintains PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) with a Outperform and lowers the price target from $198 to $195.

Evercore ISI Group Maintains Outperform on PulteGroup, Lowers Price Target to $195

PulteGroup's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) short percent of float has fallen 13.55% since its last report. The company recently reported that it has 6.74 million shares sold short, which is 4.21% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.06 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>PulteGroup Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729692026_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for PulteGroup has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing PulteGroup's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, PulteGroup's peer group average for short interest as a percentage of float is 5.77%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into PulteGroup's Recent Short Interest

Oppenheimer analyst Tyler Batory maintains PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) with a Outperform and lowers the price target from $168 to $165.

Oppenheimer Maintains Outperform on PulteGroup, Lowers Price Target to $165

BTIG analyst Carl Reichardt maintains PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) with a Buy and raises the price target from $139 to $156.

BTIG Maintains Buy on PulteGroup, Raises Price Target to $156

Wall Street traded lower for the second consecutive day on Tuesday, as investor sentiment turned cautious with the U.S. presidential election <a href="https://www.benzinga.com/topic/2024-elections">just two weeks away. </a>
Concerns over U.S. fiscal policies and potential shifts in economic direction fueled the pause in risk-taking.
The International Monetary Fund (IMF) upgraded its U.S. growth forecasts for 2024 and 2025 in the latest World Economic Outlook, while also flagging rising concerns about the country's debt trajectory, warning that with current large fiscal deficits, &#8220;the U.S. public debt is not stabilized.&#8221;
Commodities were the standout performers on Tuesday, with both metals and energy experiencing notable gains.
Gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose 0.8%, pushing further into record territory. This increase extended its year-to-date performance to 34%, positioning gold for its strongest <a href="https://www.benzinga.com/markets/bonds/24/10/41455678/gold-on-track-for-best-year-since-1979-veteran-investor-says-sell-bonds-buy-gold">annual gain since 1979.</a> Gold miners, as represented by the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), rallied for the ninth consecutive session, hitting their highest levels in over four years.
Silver, tracked by the iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>), surged 2.8%, reaching levels not seen since October 2012.
Oil prices rallied nearly 3%, building on a 2% surge from Monday. U.S. Treasury yields ticked up modestly on Tuesday following Monday's spike, with the 10-year yield settling at 4.21%.
Meanwhile, the U.S. Dollar Index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), climbed past the 104 mark, continuing its steady ascent and eyeing a fourth consecutive week of gains.
In the cryptocurrency market, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 0.5%, dipping to around $67,000 and marking its second consecutive day of declines.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In US Major Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %change</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,907.57</td>
<td>-0.1 %</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,840.39</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,291.15</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,228.60</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:35 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102224&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.3% to $581.79.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.1% lower to $429.14.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.4% to $493.29.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.5% $221.04.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 0.6%. The Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) lagged, down 1.1%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Performers</h3>
General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) surged 9%, on track for its strongest session in nearly a year, after reporting stronger-than-expected earnings and announcing an additional $5 billion share buyback program extending into next year.
Other stocks reacting to earnings include: 
<ul>
<li>Southern Copper Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>), up 1.5%</li>
<li>Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), down 6%</li>
<li>W.R. Berkley Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRB#NYSE">WRB</a>), down 4.6%</li>
<li>Zion Bancorp. N.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>), up 6.8%</li>
<li>Wintrust Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTFC#NASDAQ">WTFC</a>), up 1.6%</li>
<li>Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>), up 8.8%</li>
<li>GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), down over 8%</li>
<li>Danaher Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>), down 3%</li>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), down 4.4%</li>
<li>RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), down 0.4%</li>
<li>Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), down 5.8%</li>
<li>Fiserv Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>), down 0.4%</li>
<li>Moodys Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCO#NYSE">MCO</a>) down 4.5%</li>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), down 0.9%</li>
<li>Freeport-McMoran Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), up 1.4%</li>
<li>Kimberly-Clark Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>), down 4%</li>
<li>PulteGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>), down 5.7%</li>
</ul>
Large-cap companies reporting earnings after the close include Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), Seagate Technology Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>), Manhattan Associates Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>), East West Bancorp. Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) and Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>)
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Stocks Fall, GM Eyes Best Day In A Year, Gold Breaks Records, Silver Hits 12-Year Highs: What's Driving Markets Tuesday?

PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) shares are trading lower after the company <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41446207/pultegroup-reports-third-quarter-2024-financial-results" rel="noreferrer noopener">reported&nbsp;third-quarter results</a>.
Revenue stood at&nbsp;$4.48 billion, beating the consensus of&nbsp;$4.26 billion.
Reported home sale revenues rose&nbsp;12% to&nbsp;$4.3 billion, with higher revenues reflecting a 12% increase in closings to 7,924&nbsp;homes and an average sales price of&nbsp;$548,000 (flat Y/Y).
The gross margin for home sales stood at&nbsp;28.8%, vs. 29.5% a year ago.
Net new orders fell to 7,031&nbsp;from 7,065 homes last year. However, the dollar value of net new orders rose&nbsp;3%&nbsp;to&nbsp;$3.9 billion&nbsp;in the&nbsp;third quarter.
GAAP EPS of&nbsp;$3.35 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of&nbsp;$3.15</a>.
At the end of the&nbsp;third quarter, the company&#8217;s backlog was 12,089&nbsp; homes, valued at&nbsp;$7.7 billion.
The company ended the year with&nbsp;$1.5 billion of cash and a debt-to-capital ratio of&nbsp;12.3%.
During the quarter, the company repurchased 2.5&nbsp;million of its common shares for&nbsp;$320&nbsp;million, or an average price of&nbsp;$126.05 per share.
Ryan Marshall, PulteGroup President and CEO, said, &#8220;Years of underbuilding has created a structural shortage of homes and correspondingly high home prices, so the Federal Reserve&#8217;s pivot to lowering interest rates provides a powerful tool in helping to address the affordability challenge faced by today&#8217;s homebuyers.&#8221;
&#8220;Given our strong&nbsp;third quarter&nbsp;and nine-month financial results, we are well positioned to deliver a record year of earnings for the Company,&#8221; added Marshall.
Investors can gain exposure to the stock via&nbsp;IShares U.S. Home Construction ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>) and&nbsp;SMI 3Fourteen Full-Cycle Trend ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCTE#NASDAQ">FCTE</a>).
Price Action: PHM shares are down 5.8% at $135.90 at the last check Tuesday.
Image via Shutterstock
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PulteGroup Q3 Beats Estimates: Home Closings Up 12%, CEO Highlights Fed's Role in Addressing Affordability

Wedbush analyst Jay McCanless reiterates PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) with a Neutral and maintains $115 price target.

Reiteration

Wedbush Reiterates Neutral on PulteGroup, Maintains $115 Price Target

PulteGroup shares are trading lower. The company reported Q3 financial results and net new orders numbers.

The Company's net new orders for the third quarter were 7,031 homes, which is consistent with net new orders of 7,065 homes in the prior year period. The value of net new orders in the quarter was $3.9 billion, or an increase of 3% over last year. Average community count for the third quarter was 957, which is up 4% from the prior year.
At the end of the third quarter, the Company's backlog was 12,089 homes with a value of $7.7 billion.

PulteGroup Reported Net New Orders For 7,031 Homes In Q3, Backlog Of 12,089 Homes Was Valued At $7.7B

Earnings Beats

PulteGroup Q3 2024 GAAP EPS $3.35 Beats $3.15 Estimate, Sales $4.476B Beat $4.255B Estimate

PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) is gearing up to announce its quarterly earnings on Tuesday, 2024-10-22. Here's a quick overview of what investors should know before the release.
Analysts are estimating that PulteGroup will report an earnings per share (EPS) of $3.13.
Investors in PulteGroup are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Earnings Track Record</h3>
During the last quarter, the company reported an EPS beat by $0.31, leading to a 2.47% drop in the share price on the subsequent day.
Here's a look at PulteGroup's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>3.27</td>
<td>2.36</td>
<td>3.22</td>
<td>2.84</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>3.58</td>
<td>2.87</td>
<td>3.28</td>
<td>2.90</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>-0.0%</td>
<td>-1.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729526496_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of PulteGroup were trading at $149.04 as of October 18. Over the last 52-week period, shares are up 102.58%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Observations about PulteGroup</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on PulteGroup.
PulteGroup has received a total of 10 ratings from analysts, with the consensus rating as Outperform. With an average one-year price target of $146.5, the consensus suggests a potential 1.7% downside.
<h3>Comparing Ratings Among Industry Peers</h3>
The below comparison of the analyst ratings and average 1-year price targets of Toll Brothers and TopBuild, three prominent players in the industry, gives insights for their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Outperform trajectory for Toll Brothers, with an average 1-year price target of $155.2, suggesting a potential 4.13% upside.</li>
<li>As per analysts' assessments, TopBuild is favoring an Buy trajectory, with an average 1-year price target of $458.33, suggesting a potential 207.52% upside.</li>
</ul>
<h3>Insights: Peer Analysis</h3>
In the peer analysis summary, key metrics for Toll Brothers and TopBuild are highlighted, providing an understanding of their respective standings within the industry and offering insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>PulteGroup</td>
<td>Outperform</td>
<td>9.81%</td>
<td>$1.39B</td>
<td>7.36%</td>
</tr>
<tr>
<td>Toll Brothers</td>
<td>Outperform</td>
<td>1.50%</td>
<td>$742.00M</td>
<td>5.09%</td>
</tr>
<tr>
<td>TopBuild</td>
<td>Buy</td>
<td>3.67%</td>
<td>$423.92M</td>
<td>5.95%</td>
</tr>
</tbody>
</table>

Key Takeaway:
PulteGroup ranks highest in revenue growth among its peers. It also leads in gross profit margin. However, it has the lowest return on equity compared to its peers.
<h3>All You Need to Know About PulteGroup</h3>
PulteGroup Inc is a homebuilder in the United States. The company mainly builds single-family detached homes, and offers products to entry-level, move-up, and active-adult buyers. It also offers homebuyers mortgage financing, title, and insurance agency services through its financial services segment.
<h3>PulteGroup: Financial Performance Dissected</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Positive Revenue Trend: Examining PulteGroup's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 9.81% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. When compared to others in the Consumer Discretionary sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: PulteGroup's net margin is impressive, surpassing industry averages. With a net margin of 17.59%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 7.36%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): PulteGroup's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 4.9% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: PulteGroup's debt-to-equity ratio is below the industry average at 0.19, reflecting a lower dependency on debt financing and a more conservative financial approach.
<a href="https://www.benzinga.com/quote/PHM/earnings">To track all earnings releases for PulteGroup visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

PulteGroup Earnings Preview

PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) has outperformed the market over the past 10 years by 11.02% on an annualized basis producing an average annual return of 22.6%. Currently, PulteGroup has a market capitalization of $30.48 billion. 
Buying $1000 In PHM: If an investor had bought $1000 of PHM stock 10 years ago, it would be worth $7,808.08 today based on a price of $146.87 for PHM at the time of writing.
<h3>PulteGroup's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729092658_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 10 Years Ago Would Be Worth $7,800 Today

Hurricane Milton has left a significant mark on the Florida housing market, with cities such as Orlando, Tampa, Lakeland, Sarasota and Daytona Beach facing the <a href="https://www.benzinga.com/topic/hurricane-milton">brunt of the storm. </a>
As recovery efforts begin, analysts expect the state&#8217;s homebuilding sector to absorb an estimated $1.7 billion to $2.5 billion hit, according to a report from Goldman Sachs analyst Susan Maklari.
<h1 class="wp-block-heading">Homebuilder Exposure To Milton And Potential Delays</h1>
Homebuilders with significant exposure in the affected regions face potential delays in construction and home closings.
Maklari notes that major homebuilders such as PulteGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>), Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>), and D.R. Horton Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) have significant exposure in the impacted regions, with 17%, 14%, and 11% of their 2023 closings, respectively, concentrated in these areas.
In contrast, builders like KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) and Toll Brothers Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) have minimal exposure, with less than 3% each. Historically, homebuilders in Florida have faced delays of around 4-6 weeks following severe weather events, primarily due to resource allocation to existing community recovery efforts and labor shortages. 
Given Hurricane Milton&#8217;s strength, widespread geographic reach, and timing — just two weeks after Hurricane Helene — Maklari believes these delays could be extended even further.
"We expect some closings to be delayed, but this appears to be more of a timing issue. Any potential shortfall in Q4 will likely be made up in early 2025," Maklari said. 
The good news for builders is that many homes are already in later construction stages as they aim to hit year-end targets, and most builders tend to avoid constructing in floodplains.
Goldman Sachs estimates the total industry impact to fall between $1.7 billion and $2.5 billion, based on historical delays and local median home prices.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/10/41278536/florida-is-a-top-state-for-new-home-builds-could-hurricane-milton-slow-it-down-4-homebuilder-sto">Florida Is A Top State For New Home Builds — Could Hurricane Milton Slow It Down? 4 Homebuilder Stocks That Could Come Under Pressure</a>
<h1 class="wp-block-heading">Builder Exposure Breakdown: Orlando And Tampa</h1>
The Orlando and Tampa metropolitan areas are two of the hardest-hit regions. 
In Orlando, D.R. Horton leads the market with 2,351 closings in 2023, accounting for 16.7% market share, followed closely by Lennar Corp. with 2,242 closings and a 15.9% share. 
In Tampa, Lennar has an even larger presence, with 3,570 closings making up 28.7% of the market, while D.R. Horton holds 21.6%.
<h1 class="wp-block-heading">Top Homebuilders In Orlando-Kissimmee-Sanford, Fla. MSA (2023 Unit Closings):</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td># Company</td>
<td>Closings</td>
<td>Mkt. Share</td>
<td>% of Homes Closed by Company</td>
</tr>
<tr>
<td>1 D.R. Horton</td>
<td>2,351</td>
<td>16.7%</td>
<td>2.6%</td>
</tr>
<tr>
<td>2 Lennar Corp.</td>
<td>2,242</td>
<td>15.9%</td>
<td>3.1%</td>
</tr>
<tr>
<td>3 The Villages of Lake Sumter</td>
<td>2,129</td>
<td>15.1%</td>
<td>77.9%</td>
</tr>
<tr>
<td>4 PulteGroup</td>
<td>1,852</td>
<td>13.2%</td>
<td>6.5%</td>
</tr>
<tr>
<td>5 Dream Finders Homes Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFH#NYSE">DFH</a>)</td>
<td>791</td>
<td>5.6%</td>
<td>10.8%</td>
</tr>
</tbody>
</table>
</figure>
<h1 class="wp-block-heading">Top Homebuilders In Tampa-St. Petersburg-Clearwater, Fla. MSA (2023 Unit Closings):</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Rank</th>
<th>Company</th>
<th>Closings</th>
<th>Market Share (%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>1</td>
<td> Lennar Corp.</td>
<td> 3,570</td>
<td> 28.7</td>
</tr>
<tr>
<td>2</td>
<td> D.R. Horton</td>
<td> 2,692</td>
<td> 21.6</td>
</tr>
<tr>
<td>3</td>
<td> Homes by Westbay</td>
<td> 792</td>
<td> 6.4</td>
</tr>
<tr>
<td>4</td>
<td> PulteGroup</td>
<td> 756</td>
<td> 6.1</td>
</tr>
<tr>
<td>5</td>
<td> M/I Homes</td>
<td> 747</td>
<td> 6.0</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Goldman Sachs</figcaption></figure>
<h1 class="wp-block-heading">Muted But Prolonged Impact On Building Products Demand</h1>
The broader building products sector is expected to experience a relatively muted response, with demand for materials such as roofing, flooring and insulation likely spread out over several months.
While Goldman Sachs does not anticipate a significant rise in overall product volumes, the short-term need for repairs could lead to temporary spikes in activity.
When it comes to damage to existing homes, the extent of destruction depends on the storm's specific characteristics, such as wind speed and flooding levels. 
Roofs, windows, and siding are typically most affected by wind damage, while floors, wallboard and insulation often suffer during flooding events. Key players in these product categories include:
<ul>
<li>Roofing: Owens Corning Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>), Carlisle Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSL#NYSE">CSL</a>)</li>
<li>Windows: JELD-WEN Holding Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JELD#NYSE">JELD</a>)</li>
<li>Siding: Louisiana-Pacific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPX#NYSE">LPX</a>)</li>
<li>Flooring: Mohawk Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>)</li>
<li>Insulation: Owens Corning Inc., TopBuild Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLD#NYSE">BLD</a>), Installed Building Products Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBP#NYSE">IBP</a>)</li>
</ul>
"Reconstruction demand typically spans several months," Maklari said, citing past hurricanes. 
Cleanup and insurance claims processing often delay actual repairs, with the full rebuilding efforts sometimes extending over 4 to 6 months. 
For example, Owens Corning reported that Hurricane Ian in 2022 resulted in 4 million squares of roofing damage, representing approximately 2.5% of annual roofing shipments.
Goldman Sachs does not foresee a sharp rise in overall building product volumes from Hurricane Milton. Instead, they expect a &#8220;pull-forward&#8221; in demand, meaning that short-term rebuilding activity might be strong, but it won't significantly raise long-term volumes. This could result in choppy revenue comparisons as the industry moves past the initial recovery phase.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/top-stories/24/10/41277323/insurance-stocks-rebound-as-investors-assess-hurricane-miltons-aftermath-3-stocks-to-watch">Insurance Stocks Rebound As Investors Assess Hurricane Milton&#8217;s Aftermath: 3 Stocks To Watch</a></li>
</ul>
Photo: Shutterstock

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