Anywhere Real Estate (NYSE:HOUS) Stock Price Down 5.9% After Earnings Miss

Key Points

• Anywhere Real Estate Inc. shares fell by 5.9% after reporting quarterly earnings that missed expectations, posting an EPS of $0.24 versus a consensus estimate of $0.34.
• The company had a negative net margin of 1.82% and revenue of $1.68 billion, which was below analysts' expectations of $1.77 billion, despite a year-over-year increase of 0.8%.
• Brokerages have adjusted their ratings on the stock, with Barclays raising their target price to $3.50 and Keefe, Bruyette & Woods lowering it to $4.50, indicating a range of investor sentiment.

Anywhere Real Estate Inc. (NYSE:HOUS - Get Free Report)'s share price dropped 5.9% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $4.86 and last traded at $4.90. Approximately 383,427 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 1,127,200 shares. The stock had previously closed at $5.20.

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

Analyst Ratings Changes

HOUS has been the subject of several analyst reports. Barclays upped their price target on shares of Anywhere Real Estate from $3.00 to $3.50 and gave the company an "underweight" rating in a research report on Wednesday. Keefe, Bruyette & Woods dropped their target price on shares of 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, Wall Street Zen lowered shares of Anywhere Real Estate from a "hold" rating to a "sell" rating in a report on Saturday.

Institutional Trading of Anywhere Real Estate

A number of institutional investors have recently modified their holdings of HOUS. Ballentine Partners LLC purchased a new stake in shares of Anywhere Real Estate during the first quarter worth about $39,000. May Hill Capital LLC purchased a new stake in shares of Anywhere Real Estate during the second quarter worth about $40,000. Avantax Advisory Services Inc. purchased a new stake in shares of Anywhere Real Estate during the first quarter worth about $43,000. First Trust Advisors LP bought a new position in Anywhere Real Estate in the fourth quarter worth about $50,000. Finally, Pallas Capital Advisors LLC bought a new position in Anywhere Real Estate in the first quarter worth about $52,000. 97.56% of the stock is currently owned by hedge funds and other institutional investors.

Anywhere Real Estate Trading Down 3.0%

The company has a market capitalization of $500.91 million, a P/E ratio of -4.57 and a beta of 1.70. The stock's 50 day moving average is $3.92 and its 200-day moving average is $3.65. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.52 and a quick ratio of 0.32.

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.