Revenue Update on PulteGroup(NYSE:PHM)

PulteGroup(NYSE:PHM) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 21, 2016. Company reported revenue of $1.80B. Analysts estimated a revenue of $1.65B. Earnings per share were $0.37. Analysts had estimated an EPS of $0.32.

In a different note, On Apr 25, 2016, Raymond James said it Downgrades its rating on PulteGroup. In the research note, the firm Removes the price-target to $19.00 per share. The shares have been rated ‘Market Perform’ by the firm.

PulteGroup (PHM) made into the market gainers list on Wednesdays trading session with the shares advancing 0.25% or 0.05 points. Due to strong positive momentum, the stock ended at $20.42, which is also near the day’s high of $20.51. The stock began the session at $20.39 and the volume stood at 43,33,421 shares. The 52-week high of the shares is $22.1 and the 52 week low is $14.61. The company has a current market capitalization of $7,066 M and it has 34,60,32,240 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 11, 2016, James L Ossowski (VP Finance & Controller) sold 10,000 shares at $20.00 per share price.Also, On Jul 8, 2016, James R Ellinghausen (Exec. Vice President-HR) sold 100,000 shares at $20.25 per share price.On May 4, 2016, Bryce Blair (director) purchased 5,479 shares at $18.18 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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