Anywhere Real Estate (NYSE:HOUS) Shares Gap Down on Disappointing Earnings

Key Points

• Anywhere Real Estate Inc. (NYSE:HOUS) shares gapped down from a previous close of $4.69 to an opening price of $4.46, and last traded at $4.92.
• Despite a revenue increase to $1.20 billion for the quarter, the company reported earnings per share of (-$0.57), missing consensus estimates by $0.06.
• Keefe, Bruyette & Woods has lowered their price target on Anywhere Real Estate from $5.00 to $4.50, maintaining a "market perform" rating on the stock.

Shares of Anywhere Real Estate Inc. (NYSE:HOUS - Get Free Report) gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $4.69, but opened at $4.46. Anywhere Real Estate shares last traded at $4.92, with a volume of 181,484 shares.

The company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Anywhere Real Estate had a negative return on equity of 4.57% and a negative net margin of 1.87%. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the previous year, the company earned $0.27 EPS. The business's quarterly revenue was up .8% compared to the same quarter last year.

Analyst Ratings Changes

A number of brokerages have commented on HOUS. Barclays increased their target price on Anywhere Real Estate from $3.00 to $3.50 and gave the company an "underweight" rating in a report on Wednesday. Keefe, Bruyette & Woods reduced their target price on Anywhere Real Estate from $5.00 to $4.50 and set a "market perform" rating for the company in a report on Monday, April 28th.

Institutional Investors Weigh In On Anywhere Real Estate

A number of large investors have recently made changes to their positions in HOUS. Ballentine Partners LLC acquired a new position in Anywhere Real Estate during the first quarter worth $39,000. RPO LLC acquired a new position in Anywhere Real Estate during the fourth quarter worth $43,000. Avantax Advisory Services Inc. acquired a new position in Anywhere Real Estate during the first quarter worth $43,000. First Trust Advisors LP acquired a new position in Anywhere Real Estate during the fourth quarter worth $50,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Anywhere Real Estate in the first quarter valued at $52,000. 97.56% of the stock is currently owned by hedge funds and other institutional investors.

Anywhere Real Estate Stock Performance

The firm has a market capitalization of $483.58 million, a price-to-earnings ratio of -4.41 and a beta of 1.73. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.52 and a quick ratio of 0.32. The firm has a 50 day moving average price of $3.90 and a 200-day moving average price of $3.64.

Anywhere Real Estate Company Profile

Anywhere Real Estate Inc, through its subsidiaries, provides residential real estate services in the United States and internationally. The company operates through three segments: Anywhere Brands, Anywhere Advisors, and Anywhere Integrated Services. The Anywhere Brands segment franchises the Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA, and Sotheby's International Realty brand names.