Anywhere Real Estate (HOUS) Soars 6.5%: Is Further Upside Left in the Stock?
Anywhere Real Estate (HOUS) shares ended the last trading session 6.5% higher at $9.40. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 27.4% gain over the past four weeks.
The increased optimism stems from the improving real estate operations industry and recovering housing demand amid lower mortgage rates.
This real estate brokerage operator is expected to post quarterly loss of $0.33 per share in its upcoming report, which represents a year-over-year change of -186.8%. Revenues are expected to be $1.42 billion, down 28.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Anywhere Real Estate, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HOUS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Anywhere Real Estate is part of the Zacks Real Estate - Operations industry. Offerpad Solutions Inc. (OPAD), another stock in the same industry, closed the last trading session 0.9% higher at $1.16. OPAD has returned 138.9% in the past month.
Offerpad Solutions Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. Compared to the company's year-ago EPS, this represents a change of -640%. Offerpad Solutions Inc. currently boasts a Zacks Rank of #3 (Hold).
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Anywhere Real Estate Inc. (HOUS) : Free Stock Analysis Report
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