QUOTE AND NEWS
TheStreet.com  10 hrs ago  Comment 
NEW YORK (TheStreet) --PulteGroup shares are up 1.4% to $21.24 in trading on Thursday as the U.S. home builder benefits from high October existing home sales numbers. The National Association of Realtors (NAR) reported a 1.5% rise in existing...
StreetInsider.com  Nov 10  Comment 
UPGRADES Deutsche Bank moves Newfield Exploration (NYSE: NFX) from to Buy and adjusts its price target from $38 up to $42. Click Here for more color. Piper Jaffray boosts Boulder Brands (Nasdaq: BDBD) from Neutral to Overweight and moves its...
Forbes  Nov 10  Comment 
In early trading on Monday, shares of PulteGroup (PHM) topped the list of the day's best performing components of the S&P 500 index, trading up 2.6%.  Year to date, PulteGroup registers a 0.5% gain.
Benzinga  Oct 29  Comment 
PulteGroup, Inc. (NYSE: PHM) stock pulled back like most other stocks during the most recent broad market sell-off. The difference in Pulte, however, is that the pullback may have been the completion of an intermediate-term downside...
TheStreet.com  Oct 23  Comment 
NEW YORK (TheStreet) -- PulteGroup shares are up 1.94% to $19.55 on Thursdayaafter the U.S. home builder reported an increase in third quarter revenue spurred by rising home prices. The company reported earnings of 37 cents per diluted share...
Wall Street Journal  Oct 23  Comment 
PulteGroup said the improving economy and higher average selling prices help drive third-quarter results that were in line with Wall Street expectations.
newratings.com  Oct 23  Comment 
WASHINGTON (dpa-AFX) - PulteGroup Inc. (PHM) reported that its third-quarter net income plunged to $140.55 million or $0.37 per share from the prior year's $2.28 billion or $5.87 per share. Analysts polled by Thomson Reuters expected the...
Market Intelligence Center  Oct 10  Comment 
Pulte Homes Inc. (PHM) traded between $17.87 and $18.47 before closing at $17.90 Thursday and presents some attractive trading opportunities today. MarketIntelligenceCenter.com’s algorithms have picked a Apr. '15 $17.00 covered call for a net...
TheStreet.com  Oct 2  Comment 
NEW YORK (TheStreet) -- Shares of PulteGroupaInca are climbing 1.14% to $17.79 in early market trading after the homebuilder's rating was raised to "neutral" from "sell" by analysts at Goldman Sachsathis morning,awith a price target...




 

Pulte Homes (PHM) (NYSE:PHM) is a homebuilder. In 2009, the company sold 15,013 homes across 27 states in all regions of the country.[1] Pulte targets first-time and move-up buyers, with most of its properties being single-family detached homes. At an average home selling price of $258,000, the company offers homes that are more expensive than the national median home price of around $210,000.[1]

The company operates in a highly cyclical industry. New home construction, home prices and new home sales volume are heavily dependent upon job growth, interest rates, and the business cycle at large. Low interest rates and high job growth bode well for homebuilding, but as the recent subprime lending crisis and depressed housing market has illustrated, things can sour quickly and the business can be difficult to predict. Key homebuilding numbers, such as housing starts and existing home sales have continued to come in weak of late. Homebuilding is highly competitive and marked by few barriers to entry, low profit margins, and high financial leverage.

Since early 2006, the U.S. housing market has been unfavorably impacted by a lack of consumer confidence, tightened mortgage standards, and large supplies of resale and new home inventories and related pricing pressures. These factors have contributed to weakened demand for new homes, slower sales, and increased price discounts and sales incentives to attract homebuyers. All of these contribute negatively to PHM's revenues and net income. This could not posisbly have been more helpful!

Competition

The company competes against a highly fragmented base of other homebuilders. These companies may be national or local players and given the highly competitive nature of the industry, competition is stiff and often marked by low margins and low returns on capital. The company also competes for buyers with existing homes that have hit the market, and competes more broadly with other housing alternatives such as apartments and mobile homes.

Some of PHM's top competitors include Lennar (LEN), D.R. Horton (DHI), Centex (CTX), KB Home (KBH), HOVNANIAN ENTERPRISES (HOV), Beazer Homes USA (BZH), and Ryland Group (RYL).

Footnotes

  1. 1.0 1.1 PHM 10-K 2009 Item 1 Pg. 4
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