Anywhere Real Estate (HOUS) shares soared 17.9% in the last trading session to close at $17.03. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.7% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to major progress on its merger with Compass Inc.
This real estate brokerage operator is expected to post a quarterly loss of $0.13 per share in its upcoming report, which represents a year-over-year change of +71.1%. Revenues are expected to be $1.38 billion, up 1.7% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For Anywhere Real Estate, the consensus FFO per share 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 FFO 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 belongs to the Zacks Real Estate - Operations industry. Another stock from the same industry, Offerpad Solutions Inc. (OPAD), closed the last trading session 3.3% lower at $1.45. Over the past month, OPAD has returned -25.7%.
Offerpad Solutions' consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at -$0.28. Compared to the company's year-ago FFO per share, this represents a change of +55.6%. Offerpad Solutions currently boasts a Zacks Rank of #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Anywhere Real Estate Inc. (HOUS): Free Stock Analysis Report Offerpad Solutions Inc. (OPAD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
