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Anywhere Real Estate (HOUS) Surges 9.7%: Is This an Indication of Further Gains?
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Anywhere Real Estate (HOUS - Free Report) shares soared 9.7% in the last trading session to close at $7.21. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20.7% loss over the past four weeks.
The increased optimism in the stock is attributable to the recovery in its industry's fundamentals.
This real estate brokerage operator is expected to post quarterly earnings of $0.43 per share in its upcoming report, which represents a year-over-year change of -25.9%. Revenues are expected to be $1.66 billion, down 8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and 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.
Anywhere Real Estate is a member of the Zacks Real Estate - Operations industry. One other stock in the same industry, PennyMac Mortgage (PMT - Free Report) , finished the last trading session 3.1% lower at $13.04. PMT has returned 3.5% over the past month.
For PennyMac Mortgage, the consensus EPS estimate for the upcoming report has changed -11.6% over the past month to $0.31. This represents a change of +3000% from what the company reported a year ago. PennyMac Mortgage currently has a Zacks Rank of #5 (Strong Sell).
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Anywhere Real Estate (HOUS) Surges 9.7%: Is This an Indication of Further Gains?
Anywhere Real Estate (HOUS - Free Report) shares soared 9.7% in the last trading session to close at $7.21. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 20.7% loss over the past four weeks.
The increased optimism in the stock is attributable to the recovery in its industry's fundamentals.
This real estate brokerage operator is expected to post quarterly earnings of $0.43 per share in its upcoming report, which represents a year-over-year change of -25.9%. Revenues are expected to be $1.66 billion, down 8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and 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 a member of the Zacks Real Estate - Operations industry. One other stock in the same industry, PennyMac Mortgage (PMT - Free Report) , finished the last trading session 3.1% lower at $13.04. PMT has returned 3.5% over the past month.
For PennyMac Mortgage, the consensus EPS estimate for the upcoming report has changed -11.6% over the past month to $0.31. This represents a change of +3000% from what the company reported a year ago. PennyMac Mortgage currently has a Zacks Rank of #5 (Strong Sell).