PHM's dividend hike aligns with its strategic plan to return substantially available cash flow to stockholders.
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Can Fed rate cuts fuel a rally in PHM stock? Here???s what investors need to know.
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PulteGroup shares fell 7% after Q3 earnings amid fears of rising mortgage rates despite Fed cuts could reduce housing demand. Q3 EPS beat estimates, but new orders fell 0.5% while increased incentives and higher SG&A expenses pressured margins. Pulte's backlog supports current production, but higher land spending and Florida's weak performance pose risks.
There are discussions in mainstream media suggesting a housing shortage to explain current affordability challenges in real estate. However, with rising listings and inventories, the picture appears more nuanced.PulteGroup Inc. NYSE: PHM recently reported quarterly earnings, causing the stock to dip over 6% in one day, reflecting market concerns.
PHM's third-quarter 2024 results reflect a solid increase in home closings due to the favorable market scenario and its balanced operating model.
PulteGroup Inc. (NYSE:PHM ) Q3 2024 Earnings Conference Call October 22, 2024 8:30 AM ET Company Participants James Zeumer - Vice President, Investor Relations Ryan Marshall - President and Chief Executive Officer Robert O'Shaughnessy - Executive Vice President and Chief Financial Officer Conference Call Participants John Lovallo - UBS Alan Ratner - Zelman & Associates Stephen Kim - Evercore ISI Anthony Pettinari - Citi Michael Rehaut - JPMorgan Michael Dahl - RBC Capital Markets Carl Reichardt - BTIG Trevor Allinson - Wolfe Research Sam Reid - Wells Fargo Matthew Bouley - Barclays Operator Good morning. My name is Audra, and I will be your conference operator today.