Exp World (NASDAQ:AGNT) Issues Earnings Results, Misses Expectations By $0.10 EPS

Key Points

• Exp World missed earnings expectations: The company reported a quarterly loss of $0.02 per share, $0.10 below the $0.08 consensus estimate, despite revenue growing 10.7% year over year.
• Shares rose 6.3% to $4.39 following the results, though the stock remains well below its 52-week high of $12.23. Analysts maintain a consensus “Reduce” rating with an average price target of $5.17.
• The company declared a quarterly dividend of $0.05 per share, equating to a 4.6% annualized yield, while institutional investors increased their holdings and now own 27.17% of outstanding shares.

Exp World (NASDAQ:AGNT - Get Free Report) released its earnings results on Friday. The technology company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10), Briefing.com reports. Exp World had a negative net margin of 0.35% and a negative return on equity of 5.43%. Exp World's revenue was up 10.7% on a year-over-year basis.

Exp World Trading Up 6.3%

Shares of Exp World stock traded up $0.26 during trading on Friday, reaching $4.39. The stock had a trading volume of 1,417,895 shares, compared to its average volume of 1,221,946. The company has a market capitalization of $721.36 million, a price-to-earnings ratio of -39.91 and a beta of 2.09. The stock has a fifty day moving average price of $4.66 and a two-hundred day moving average price of $5.99. Exp World has a 52 week low of $3.68 and a 52 week high of $12.23.

Exp World Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, August 14th. Exp World's payout ratio is -181.82%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AGNT shares. Benchmark reduced their price target on shares of Exp World from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Wednesday. DA Davidson dropped their price objective on Exp World from $6.50 to $4.75 and set a "neutral" rating on the stock in a research note on Wednesday. Weiss Ratings raised Exp World from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday. Finally, Wall Street Zen upgraded Exp World to a "hold" rating in a report on Sunday, May 10th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $5.17.

Institutional Trading of Exp World

A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its stake in Exp World by 73.3% in the second quarter. Bank of America Corp DE now owns 3,289,449 shares of the technology company's stock valued at $29,934,000 after acquiring an additional 1,391,582 shares during the last quarter. Millennium Management LLC raised its stake in Exp World by 126.7% in the first quarter. Millennium Management LLC now owns 905,523 shares of the technology company's stock valued at $8,856,000 after buying an additional 506,121 shares during the period. Invesco Ltd. lifted its position in shares of Exp World by 55.8% in the second quarter. Invesco Ltd. now owns 1,178,065 shares of the technology company's stock valued at $10,720,000 after buying an additional 421,740 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Exp World by 19.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,787,759 shares of the technology company's stock worth $16,179,000 after acquiring an additional 285,001 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Exp World by 91.1% in the 4th quarter. Janus Henderson Group PLC now owns 575,857 shares of the technology company's stock valued at $5,212,000 after acquiring an additional 274,445 shares during the period. Institutional investors own 27.17% of the company's stock.

About Exp World

eXp World Holdings, Inc NASDAQ: EXPI is a cloud-based real estate company that operates a global brokerage model through its eXp Realty subsidiary. Founded in 2009 by industry veteran Glenn Sanford and headquartered in Bellingham, Washington, the company leverages a virtual business environment to connect and support real estate professionals. eXp Realty's technology-driven platform enables licensed agents to list, show and manage residential property transactions without the overhead of traditional brick-and-mortar offices.

At the core of eXp World's offering is its proprietary virtual campus, which provides real-time training, collaboration and networking via an immersive online environment.

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