What Happened:Shares of residential real estate services company Anywhere Real Estate (NYSE:HOUS) fell 11% in the morning session after the company reported fourth-quarter results that missed analysts' estimates on all major operating metrics (revenue, EBITDA, EPS, free cash flow). Furthermore, it noted that Q1 2024 is seeing historically low unit volume and, as a result, expects to produce negative EBITDA. For the rest of 2024, it expects more normal seasonal volumes. Overall, this was a weaker quarter for Anywhere Real Estate.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Anywhere Real Estate? Find out by reading the original article on StockStory.
What is the market telling us:Anywhere Real Estate's shares are very volatile and over the last year have had 50 moves greater than 5%. But moves this big are very rare even for Anywhere Real Estate and that is indicating to us that this news had a significant impact on the market's perception of the business.
Anywhere Real Estate is down 6.8% since the beginning of the year, and at $7.35 per share it is trading 18.7% below its 52-week high of $9.04 from July 2023. Investors who bought $1,000 worth of Anywhere Real Estate's shares 5 years ago would now be looking at an investment worth $401.24.
