Residential real estate services company Anywhere Real Estate (NYSE:HOUS) will be reporting earnings tomorrow before market hours. Here’s what you need to know.
Anywhere Real Estate missed analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $1.67 billion, flat year on year. It was a slower quarter for the company, with a miss of analysts’ earnings estimates. It reported 154.2 billion total transactions, up 2.7% year on year.
Is Anywhere Real Estate a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Anywhere Real Estate’s revenue to grow 2.8% year on year to $1.63 billion, a reversal from the 12.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.29 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Anywhere Real Estate’s peers in the real estate services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Compass delivered year-on-year revenue growth of 11.7%, meeting analysts’ expectations, and CBRE reported revenues up 14.8%, topping estimates by 2.7%. Compass traded up 14.3% following the results while CBRE was also up 7.7%.
Read our full analysis of Compass’s results here and CBRE’s results here.
There has been positive sentiment among investors in the real estate services segment, with share prices up 3.3% on average over the last month. Anywhere Real Estate is down 15.3% during the same time and is heading into earnings with an average analyst price target of $4.50 (compared to the current share price of $4.04).
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