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Stock Market & Financial Investment News

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July 24, 2014
06:38 EDTPHMPulteGroup reports Q2 EPS 11c, may not compare to consensus 25c
Reports Q2 revenue $1.29B, consensus $1.33B. Q2 net income was $42M, or 11c per share, after pretax charges of $88M, or 14c per share, for insurance reserves and office relocation costs. Net income for the second quarter reflects $26M, or 7c per share, of income tax expense.
News For PHM From The Last 14 Days
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April 9, 2015
10:00 EDTPHMOn The Fly: Analyst Downgrade Summary
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06:49 EDTPHMPulteGroup, Meritage cut to sell at JPMorgan on profit taking call
JPMorgan downgraded both PulteGroup (PHM) and Meritage Homes (MTH) to Underweight from Neutral saying the homebuilders are vulnerable to a pullback over the next six months following their strong year-to-date performance. Underweight is JPMorgan’s equivalent to a sell rating. The firm recommends taking some profits in the sector ahead the Q1 earnings reports amid what it sees as "overly positive" investor sentiment. It thinks homebuilders are "highly unlikely" to raise their 2015 gross margin guidance on the Q1 earnings calls. JPMorgan keeps a $21 price target on shares of PulteGroup and dropped its target for Meritage Homes to $38 from $43. Its only Overweight rated name in the space is Ryland Group (RYL).
06:24 EDTPHMPulteGroup downgraded to Underweight from Neutral at JPMorgan
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