What is Wedbush’s Forecast for PulteGroup FY2024 Earnings?

PulteGroup, Inc. (NYSE:PHM) – Analysts at Wedbush raised their FY2024 EPS estimates for PulteGroup in a research report issued to clients and investors on Friday, January 3rd. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings of $13.10 per share for the year, up from their previous forecast of $13.03. Wedbush currently has a “Outperform” rating and a $135.00 price objective on the stock. The consensus estimate for PulteGroup’s current full-year earnings is $12.94 per share. Wedbush also issued estimates for PulteGroup’s Q2 2025 earnings at $3.59 EPS, Q3 2025 earnings at $3.87 EPS, Q4 2025 earnings at $4.16 EPS, FY2025 earnings at $14.58 EPS, Q1 2026 earnings at $3.39 EPS, Q2 2026 earnings at $3.97 EPS, Q3 2026 earnings at $4.24 EPS and Q4 2026 earnings at $4.72 EPS.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the firm earned $2.90 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis.

Several other analysts have also weighed in on the stock. Oppenheimer lowered their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Citigroup reduced their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday. BTIG Research boosted their target price on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, UBS Group lifted their price objective on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $144.29.

PulteGroup Stock Performance

PHM stock opened at $108.77 on Monday. The firm has a market cap of $22.31 billion, a PE ratio of 8.02, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67. The stock has a 50-day moving average price of $124.17 and a 200-day moving average price of $126.99. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup has a 1-year low of $100.24 and a 1-year high of $149.47.

Institutional Trading of PulteGroup

A number of institutional investors have recently modified their holdings of PHM. Grove Bank & Trust raised its stake in shares of PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after purchasing an additional 72 shares during the last quarter. Cromwell Holdings LLC increased its position in shares of PulteGroup by 17.2% during the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock worth $81,000 after purchasing an additional 83 shares during the last quarter. Concord Wealth Partners boosted its holdings in PulteGroup by 1.7% during the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after acquiring an additional 83 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in PulteGroup by 3.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock worth $438,000 after purchasing an additional 88 shares during the period. Finally, Verdence Capital Advisors LLC raised its holdings in shares of PulteGroup by 2.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,598 shares of the construction company’s stock valued at $516,000 after purchasing an additional 97 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were given a dividend of $0.22 per share. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.81%. PulteGroup’s dividend payout ratio (DPR) is 6.49%.

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.