Anywhere Real Estate (NYSE:HOUS) Trading Down 5.9% Following Weak Earnings

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) shares were down 5.9% on Wednesday following a dissappointing earnings announcement. The company traded as low as $4.86 and last traded at $4.90. Approximately 383,427 shares traded hands 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). The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.77 billion. Anywhere Real Estate had a negative return on equity of 4.57% and a negative net margin of 1.87%. Anywhere Real Estate's revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HOUS. Keefe, Bruyette & Woods lowered 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. Barclays raised their target price on shares of Anywhere Real Estate from $3.00 to $3.50 and gave the stock an "underweight" rating in a report on Wednesday.

Institutional Investors Weigh In On Anywhere Real Estate

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RPD Fund Management LLC purchased a new position in Anywhere Real Estate during the 4th quarter valued at about $17,137,000. Charles Schwab Investment Management Inc. increased its position in Anywhere Real Estate by 111.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,280,470 shares of the company's stock valued at $7,594,000 after purchasing an additional 1,200,823 shares during the period. SG Americas Securities LLC increased its position in Anywhere Real Estate by 5,654.0% during the 1st quarter. SG Americas Securities LLC now owns 1,146,715 shares of the company's stock valued at $3,819,000 after purchasing an additional 1,126,786 shares during the period. Gator Capital Management LLC increased its position in Anywhere Real Estate by 42.8% during the 4th quarter. Gator Capital Management LLC now owns 2,525,050 shares of the company's stock valued at $8,333,000 after purchasing an additional 756,800 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Anywhere Real Estate by 52.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,682,561 shares of the company's stock valued at $5,603,000 after purchasing an additional 582,402 shares during the period. Institutional investors own 97.56% of the company's stock.

Anywhere Real Estate Stock Down 7.0%

The company has a current ratio of 0.52, a quick ratio of 0.32 and a debt-to-equity ratio of 1.51. The firm has a market cap of $480.22 million, a PE ratio of -4.37 and a beta of 1.73. The business's 50-day simple moving average is $3.90 and its 200 day simple moving average is $3.64.

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.