|
|
|
|
|||||
|
|
|
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how real estate services stocks fared in Q3, starting with RE/MAX (NYSE:RMAX).
Technology has been a double-edged sword in real estate services. On the one hand, internet listings are effective at disseminating information far and wide, casting a wide net for buyers and sellers to increase the chances of transactions. On the other hand, digitization in the real estate market could potentially disintermediate key players like agents who use information asymmetries to their advantage.
The 12 real estate services stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 3.3% while next quarter’s revenue guidance was 0.8% below.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.5% since the latest earnings results.
Short for Real Estate Maximums, RE/MAX (NYSE:RMAX) operates a real estate franchise network spanning over 100 countries and territories.
RE/MAX reported revenues of $73.25 million, down 6.7% year on year. This print fell short of analysts’ expectations by 0.7%. Overall, it was a mixed quarter for the company with an impressive beat of analysts’ adjusted operating income estimates but a slight miss of analysts’ revenue estimates.
"Our total REMAX agent count reached another all-time high this quarter, fueled by steady global growth and the strongest third-quarter U.S. agent count results we've had in three years. Based on feedback from the membership, we believe our mix of new ideas, new products and new systems is enhancing our value proposition and generating great energy within the network. At the same time, our constant focus on operational excellence is driving profitability and margin performance exceeding expectations," said Erik Carlson, Chief Executive Officer of RE/MAX Holdings.
Unsurprisingly, the stock is down 12.2% since reporting and currently trades at $7.27.
Is now the time to buy RE/MAX? Access our full analysis of the earnings results here, it’s free for active Edge members.
Founded in Toronto, Canada in 2014, The Real Brokerage (NASDAQ:REAX) is a technology-driven real estate brokerage firm combining a tech-centric model with an agent-centric philosophy.
The Real Brokerage reported revenues of $568.5 million, up 52.6% year on year, outperforming analysts’ expectations by 6.5%. The business had a stunning quarter with EPS in line with analysts’ estimates and a solid beat of analysts’ EBITDA estimates.
The Real Brokerage delivered the fastest revenue growth among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 3.5% since reporting. It currently trades at $3.45.
Is now the time to buy The Real Brokerage? Access our full analysis of the earnings results here, it’s free for active Edge members.
Known for giving homeowners cash offers within 24 hours, Offerpad (NYSE:OPAD) operates a tech-enabled platform specializing in direct home buying and selling solutions.
Offerpad reported revenues of $132.7 million, down 36.2% year on year, falling short of analysts’ expectations by 5.1%. It was a disappointing quarter as it posted a miss of analysts’ homes purchased estimates and a miss of analysts’ homes sold estimates.
Offerpad delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 26.7% since the results and currently trades at $1.70.
Read our full analysis of Offerpad’s results here.
Founded in 1999 through the merger of Jones Lang Wootton and LaSalle Partners, JLL (NYSE:JLL) is a company specializing in real estate advisory and investment management services.
JLL reported revenues of $6.51 billion, up 10.9% year on year. This result was in line with analysts’ expectations. Aside from that, it was a mixed quarter as it also logged a decent beat of analysts’ Capital Markets revenue estimates but a miss of analysts’ Work Dynamics revenue estimates.
The stock is flat since reporting and currently trades at $300.79.
Read our full, actionable report on JLL here, it’s free for active Edge members.
Founded in 1929, Newmark (NASDAQ:NMRK) provides commercial real estate services, including leasing advisory, global corporate services, investment sales and capital markets, property and facilities management, valuation and advisory, and consulting.
Newmark reported revenues of $863.5 million, up 25.9% year on year. This print surpassed analysts’ expectations by 11.8%. Zooming out, it was a mixed quarter as it also produced a solid beat of analysts’ revenue estimates but a significant miss of analysts’ adjusted operating income estimates.
Newmark pulled off the biggest analyst estimates beat among its peers. The stock is down 17.7% since reporting and currently trades at $15.33.
Read our full, actionable report on Newmark here, it’s free for active Edge members.
Thanks to the Fed’s series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump’s presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape.
Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
StockStory’s analyst team — all seasoned professional investors — uses quantitative analysis and automation to deliver market-beating insights faster and with higher quality.
| Nov-20 | |
| Nov-18 | |
| Nov-11 | |
| Nov-10 | |
| Nov-06 | |
| Nov-03 | |
| Nov-03 | |
| Oct-31 | |
| Oct-31 | |
| Oct-31 | |
| Oct-30 | |
| Oct-30 | |
| Oct-30 | |
| Oct-30 | |
| Oct-30 |
Join thousands of traders who make more informed decisions with our premium features. Real-time quotes, advanced visualizations, backtesting, and much more.
Learn more about FINVIZ*Elite