Residential real estate services company Anywhere Real Estate (NYSE:HOUS) will be announcing earnings results tomorrow before the bell. Here's what to look for.
Last quarter Anywhere Real Estate reported revenues of $1.25 billion, down 5.5% year on year, missing analyst expectations by 2.1%. It was a weak quarter for the company, with a miss of analysts' revenue and EPS estimates.
Is Anywhere Real Estate buy or sell heading into the earnings? Find out by reading the original article on StockStory, it's free.
This quarter analysts are expecting Anywhere Real Estate's revenue to grow 1.4% year on year to $1.15 billion, improving on the 30.8% year-over-year decline in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.67 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates six times over the last two years.
Looking at Anywhere Real Estate's peers in the consumer discretionary segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. Nike (NYSE:NKE) delivered top-line growth of 0.3% year on year, beating analyst estimates by 1.1% and Carnival (NYSE:CCL) reported revenues up 22% year on year, inline with analysts' estimates. Nike traded down 7% on the results, and Carnival was down 4.1%.
Read the full analysis of Nike's and Carnival's results on StockStory.
Technology stocks have been hit hard on fears of higher interest rates and while some of the consumer discretionary stocks have fared somewhat better, they have not been spared, with share price declining 4.1% over the last month. Anywhere Real Estate is up 4% during the same time, and is heading into the earnings with analyst price target of $6.5, compared to share price of $5.66.
