Why PulteGroup (PHM) Dipped More Than Broader Market Today

Company Performance - PulteGroup's stock closed at $108.79, reflecting a -1.89% change from the previous trading day, underperforming the S&P 500's 1.2% loss [1] - Over the past month, PulteGroup's shares have decreased by 0.01%, outperforming the Construction sector's loss of 1.46% and the S&P 500's loss of 0.85% [1] - The upcoming earnings report is scheduled for April 23, 2024, with projected EPS of $2.36, indicating a 0.43% increase year-over-year, and expected revenue of $3.59 billion, up 0.32% from the prior year [1] Analyst Estimates - For the fiscal year, Zacks Consensus Estimates project earnings of $11.79 per share and revenue of $16.9 billion, representing changes of +0.6% and +5.22% from the prior year [2] - Recent changes to analyst estimates indicate a positive outlook for PulteGroup's business operations and profit generation [2] - The Zacks Rank system, which rates stocks from 1 (Strong Buy) to 5 (Strong Sell), currently ranks PulteGroup at 2 (Buy) [3] Valuation Metrics - PulteGroup has a Forward P/E ratio of 9.41, which is in line with the industry average [3] - The company has a PEG ratio of 0.54, compared to the industry average PEG ratio of 0.84 [3] Industry Overview - The Building Products - Home Builders industry is part of the Construction sector and holds a Zacks Industry Rank of 53, placing it in the top 22% of over 250 industries [4] - The Zacks Industry Rank measures the strength of industry groups, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [4]