PulteGroup, Inc.
PHM Details
PulteGroup, Inc. (NYSE: PHM) is a US-based homebuilder operating in more than 40 markets in 23 states. Its operating segments are 1) Homebuilding, engaged in the business of acquiring, developing, and building houses on land that is primarily used for residential reasons, and 2) Financial Services (offered through Pulte Mortgage LLC and other subsidiaries), comprises of mortgage banking, title, and insurance brokerage operations. Under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes, and Neighborhoods brands, PHM markets single-family detached homes, townhouses, condominiums, and duplexes.
Latest News:
- Quarterly Dividend: On December 01, 2021, the company declared a quarterly cash dividend of USD 0.15 (increased by 7% QoQ) per common share, payable on January 04, 2021, to shareholders of record on December 15, 2021.
Q3FY21 Results:
- Growth in Topline: The company reported YoY growth of 17.74% increase in total revenue to USD 3.48 billion in Q3FY21 (ended September 30, 2021) compared to USD 2.95 billion in Q3FY20, attributable to YoY growth of 18.94% in the Homebuilding revenue.
- Increase in Net Income: Net income for Q3FY21 increased 14.21% YoY and stood at USD 475.55 million compared to USD 416.40 million in Q3FY20.
- Cash and Debt Position: As of September 30, 2021, the company had cash & cash equivalents of USD 1.57 billion and total debt of USD 2.54 billion.
Key Risks:
- Land Availability Risk: PHM's operations are dependent on its ability to acquire land for developing residential communities. Therefore, any negative trend in the general availability of land, land sellers' willingness to sell their land at reasonable rates, financing, zoning, or other restrictions could harm its operations.
- Competition Risk: PHM operates in a highly competitive housing market, with direct competition from several national, regional, and local home builders based on various factors, including location, price, quality, and others, which could decrease sales volume or put pricing pressure on the company.
Daily Price Chart
PHM Daily Technical Chart (Source: REFINITIV)
PHM's share price has increased 7.89% in the past month and is currently trading close to the mid-band of its 52-week range of USD 39.92 to USD 63.91. The stock is currently trading above its 50 and 200 DMA levels, and its RSI Index is at 56.87. The stock has been analyzed at the current price of USD 52.21, down 0.53% as of December 03, 2021, 12:48 PM ET.
* The reference data in this report has been partly sourced from REFINITIV.
* All forecasted figures and industry information have been taken from REFINITIV.
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