PulteGroup (PHM) Releases Earnings Results, Beats Expectations By $0.04 EPS

PulteGroup (PHM) reported quarterly earnings results on Thursday, Apr-21-2016. The company said it had a profit of $0.24 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.20. The company posted revenue of $1432.60 million in the period, compared to analysts expectations of $1349.50 million. The company’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.

Many Wall Street Analysts have commented on PulteGroup. Barclays Upgraded PulteGroup on Apr 6, 2016 to ” Equal Weight”, Price Target of the shares are set at $18.Shares were Downgraded by JP Morgan on Apr 5, 2016 to ” Neutral” and Lowered the Price Target to $ 18 from a previous price target of $21.50 .PulteGroup was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Apr 4, 2016.

PulteGroup closed down -0.14 points or -0.75% at $18.51 with 62,85,787 shares getting traded on Monday. Post opening the session at $18.51, the shares hit an intraday low of $18.44 and an intraday high of $18.74 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Feb 2, 2016, Bryce Blair (director) purchased 6,040 shares at $16.53 per share price. According to the SEC, on Aug 20, 2015, Richard J Jr Dugas (Pres. and Chief Exec. Officer) sold 125,000 shares at $22.01 per share price. On Aug 19, 2015, Ryan Marshall (Executive Vice President) sold 13,500 shares at $22.00 per share price, according to the Form-4 filing with the securities and exchange commission.

PulteGroup Inc. (PulteGroup) is a homebuilder operating in the United States. The Company’s subsidiaries engage in the homebuilding business. The Company also offers mortgage banking operations through Pulte Mortgage LLC (Pulte Mortgage) and title operations. It offers a variety of home designs including single-family detached townhouses condominiums and duplexes. It has delivered approximately 640000 homes. It operates in approximately 49 markets located throughout 26 states. The Company operates through its Homebuilding and Financial Services segments. The Company’s Homebuilding Operations include the acquisition and development of land for residential purposes within the United States and the construction of housing on such land. The Financial Services operations consist of mortgage banking and title operations.


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