PulteGroup: S&P Intraday Laggard
The S&P 500 was down Friday morning more than 24 points, or 1.86%, to 1,286.
Shares of PulteGroup fell 9.19% to $8.50. The stock, followed by fellow homebuilder Lennar (LEN) as the second-worst performer Friday morning, was dropping following a disappointing May U.S. jobs report.
PulteGroup trades at an estimated price-to-earnings ratio for next year of 13.75 times; the average for home construction companies is 26.22. For comparison, D.R. Horton (DHI) has a higher forward P/E of 17.35.Fifteen of the 22 analysts who cover PulteGroup rated it hold; seven analysts gave the stock a buy rating. The stock has risen 34.39% year to date. -- Written by Alexandra Zendrian
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