Compass Point Reiterates a 'Neutral' on PulteGroup (PHM); Adjusting Estimates for Q1

Compass Point reiterates a 'Neutral' on PulteGroup (NYSE: PHM) price target of $8.50.

Analyst, Wilkes Graham, said, "Ahead of the company’s 1Q12 earnings release on Thursday morning, we are previewing earnings and adjusting our quarterly estimates to better reflect seasonality in G&A. We now forecast a loss of -$0.02/share for 1Q12, driven by an 18.6% home building margin before capitalized interest, 15.6% G&A margin, 10% growth in orders and flat closings."

"We continue to forecast annual closings in 2012 and 2013 of 3.5% and 14.3%, and order growth of 7.1% and 15.0%. Our 1Q12 estimate is for a loss of -$0.02, and assumes flat sequential growth in our pre-capitalized interest margin estimate from 4Q11."

For an analyst ratings summary and ratings history on PulteGroup click here. For more ratings news on PulteGroup click here.

Shares of PulteGroup closed at $8.22 yesterday.

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