Zacks: Brokerages Expect Realogy Holdings Corp (RLGY) Will Post Quarterly Sales of $1.15 Billion

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Wall Street brokerages expect that Realogy Holdings Corp (NYSE:RLGY) will announce sales of $1.15 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Realogy’s earnings. The lowest sales estimate is $1.15 billion and the highest is $1.16 billion. Realogy posted sales of $1.23 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 6.5%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, May 2nd.

On average, analysts expect that Realogy will report full-year sales of $5.99 billion for the current financial year, with estimates ranging from $5.96 billion to $6.03 billion. For the next fiscal year, analysts expect that the company will post sales of $6.19 billion, with estimates ranging from $6.16 billion to $6.22 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Realogy.

Realogy (NYSE:RLGY) last released its earnings results on Tuesday, February 26th. The financial services provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Realogy had a return on equity of 7.77% and a net margin of 2.25%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the business earned $0.26 earnings per share. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year.

Several research firms have recently issued reports on RLGY. JPMorgan Chase & Co. lowered their price target on shares of Realogy to $14.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 5th. Compass Point cut shares of Realogy from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $16.50 to $11.25 in a research note on Wednesday, February 27th. Finally, Barclays cut their price target on shares of Realogy from $17.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, February 27th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $19.93.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Realogy by 7.1% during the 3rd quarter. Vanguard Group Inc. now owns 18,269,980 shares of the financial services provider’s stock valued at $377,092,000 after buying an additional 1,213,178 shares during the last quarter. Vanguard Group Inc boosted its position in shares of Realogy by 7.1% in the third quarter. Vanguard Group Inc now owns 18,269,980 shares of the financial services provider’s stock worth $377,092,000 after buying an additional 1,213,178 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Realogy by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,355,998 shares of the financial services provider’s stock worth $107,991,000 after buying an additional 318,125 shares during the period. Clearbridge Investments LLC boosted its position in shares of Realogy by 77.9% in the third quarter. Clearbridge Investments LLC now owns 6,142,068 shares of the financial services provider’s stock worth $126,772,000 after buying an additional 2,689,633 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Realogy by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 3,196,096 shares of the financial services provider’s stock worth $65,968,000 after buying an additional 233,295 shares during the period.

RLGY stock traded down $0.30 during trading on Monday, reaching $12.52. 1,704,162 shares of the stock were exchanged, compared to its average volume of 2,325,376. Realogy has a twelve month low of $10.92 and a twelve month high of $26.52. The company has a market cap of $1.43 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 0.52 and a beta of 1.33. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.31.

Realogy announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 26th that allows the company to repurchase $175.00 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Realogy Company Profile

Realogy Holdings Corp. is an integrated provider of residential real estate services in the United States. The Company is the franchisor of residential real estate brokerages with some of the recognized brands in the real estate industry, the owner of United States residential real estate brokerage offices, the global provider of outsourced employee relocation services and a provider of title and settlement services.

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Earnings History and Estimates for Realogy (NYSE:RLGY)

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