PulteGroup Analysts Increase Their Forecasts After Better-Than-Expected Q2 Earnings

Core Insights - PulteGroup, Inc. reported second-quarter adjusted earnings of $3.03 per share, exceeding the consensus estimate of $3.00, while revenue was $4.40 billion, slightly below expectations of $4.41 billion [1][2] Financial Performance - The company experienced a decline in net new orders, falling to 7,083 homes from 7,649 in the prior-year quarter, with the dollar value of new orders decreasing to $3.9 billion from $4.4 billion [2] - PulteGroup ended the quarter with a backlog of 10,779 homes valued at $6.8 billion [2] Management Commentary - CEO Ryan Marshall highlighted that disciplined business practices are yielding strong results in a competitive housing environment and noted improving consumer activity due to recent interest rate pullbacks [2] Stock Performance - Following the earnings announcement, PulteGroup shares fell 1.4% to trade at $119.52 [2] Analyst Ratings and Price Targets - Wells Fargo analyst Sam Reid maintained an Overweight rating and raised the price target from $125 to $135 [5] - RBC Capital analyst Mike Dahl maintained a Sector Perform rating and increased the price target from $109 to $112 [5] - JP Morgan analyst Michael Rehaut kept an Overweight rating and raised the price target from $121 to $123 [5] - Raymond James analyst Buck Horne reiterated an Outperform rating and boosted the price target from $115 to $140 [5]