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May 27, 2023
Read up on Pultegroup Inc, Service Corporation International, Capri Holdings Limited as they approach key price targets in the near term.
Yesterday's session summary: Markets closed higher yesterday, as Nasdaq ended the session at 12,976 after a 2.19% gain. S&P 500 closed the day at 4,205.45, having gained 1.3%.
What is a Price Target?
A "price target" is an estimate of the future price of a stock based on earnings forecasts and assumed valuation multiples. Price targets are typically generated by respected market analysts who believe a stock to be fairly valued relative to its projected and historical earnings. Target prices are used to evaluate stocks and can help investors evaluate the potential risk/reward profile of a stock. Check out this rundown of consumer_cyclical stocks and their price targets.
The resistance level is at $65.93, followed by $65.95.
After ending Thursday at $66.52, Pultegroup Inc dropped to $65.51 early in yesterday's session and closed at $65.87. In total, it lost 0.98%. Yesterday's 0.98% loss extends a 7 day bearish run in which PulteGroup had already lost $3.63 from its share value. Yesterday's trading volume was 2.35 million shares which is slightly below the 21-day average of 2.79 million.
Approximately 9 days ago, the residential home construction company reached a significant high of $70.15 but has struggled to hold onto its gains and declined 5.17% since then. PulteGroup has a market cap of $14.70 billion with an average daily volume of 2.79 million shares. So far this year, it has been beating the S&P 500 by 33.26%. PulteGroup expected revenue of $3.27 billion with an EPS of $1.81.
The resistance level is at $65.93, followed by $65.95.
PulteGroup disclosed a quarterly dividend of 16 cents per share on Wednesday, February 1st that was paid on Tuesday, April 4th to all shareholders of record up until Monday, March 20th. Based on current prices, the company's decision thereby provides PulteGroup investors with an annual dividend yield of 0.972%.
Buyers pushing Service Corporation International towards its price target of $64.48; currently at $64.37
Service Corporation International's run now faces a challenge at $64.48, which is only 11 cents away and will be interesting to follow.
Bullish sentiment helped the funeral services provider to hammer out a noteworthy $62.94 to $64.53 range yesterday, and finally closing at $64.37 to end the session. Yesterday's trading volume was 793,728 shares which is slightly under the 21-day average of 1 million.
Capri Holdings recoils 17 cents from key resistance at $40.14
After reaching the known resistance zone beginning at $40.14, Capri Holdings price action retreated approximately 17 cents.
Capri Holdings has posted further gains as part of a 4 day trend that has already seen the stock gain 8 cents. it was more of the same for Capri Holdings yesterday — Capri Holdings rallied 1.94% and ended the session at $39.97. Daily trading volume (2.29 million shares) was slightly above the current multiday average of 2.15 million.
Capri Holdings is scheduled to announce earnings results Wednesday. The consensus Earnings Per Share estimate is 0.94 and the consensus revenue estimate is $1.28 billion.
