Anywhere Real Estate (NYSE:HOUS) Shares Gap Down Following Weak 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.

Anywhere Real Estate Inc. (NYSE:HOUS - Get Free Report)'s stock price gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. 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 changing hands.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wall Street Zen downgraded Anywhere Real Estate from a "hold" rating to a "sell" rating in a report on Saturday. Keefe, Bruyette & Woods decreased their price objective 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. Finally, Barclays lifted their price objective on Anywhere Real Estate from $3.00 to $3.50 and gave the company an "underweight" rating in a report on Wednesday.

Institutional Trading of Anywhere Real Estate

Several institutional investors and hedge funds have recently made changes to their positions in the company. May Hill Capital LLC bought a new position in Anywhere Real Estate in the second quarter worth about $40,000. Transcend Capital Advisors LLC raised its holdings in Anywhere Real Estate by 18.7% in the second quarter. Transcend Capital Advisors LLC now owns 199,812 shares of the company's stock worth $723,000 after purchasing an additional 31,435 shares in the last quarter. Allianz Asset Management GmbH bought a new position in Anywhere Real Estate in the second quarter worth about $448,000. Institute for Wealth Management LLC. bought a new position in Anywhere Real Estate in the second quarter worth about $181,000. Finally, Ballentine Partners LLC raised its holdings in Anywhere Real Estate by 25.5% in the second quarter. Ballentine Partners LLC now owns 14,822 shares of the company's stock worth $54,000 after purchasing an additional 3,014 shares in the last quarter. 97.56% of the stock is currently owned by institutional investors.

Anywhere Real Estate Price Performance

The firm has a market capitalization of $500.91 million, a P/E ratio of -4.57 and a beta of 1.70. 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 stock's fifty day simple moving average is $3.92 and its 200 day simple moving average is $3.65.

About Anywhere Real Estate

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.