Realogy (NYSE:RLGY) Shares Gap Up on Better-Than-Expected Earnings

Realogy Holdings Corp (NYSE:RLGY)’s stock price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $8.01, but opened at $8.80. Realogy shares last traded at $9.06, with a volume of 4,350,553 shares.

The financial services provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.30. Realogy had a positive return on equity of 4.46% and a negative net margin of 11.19%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the business posted $0.83 EPS.

A number of analysts have weighed in on RLGY shares. Zacks Investment Research upgraded Realogy from a “sell” rating to a “hold” rating in a report on Wednesday, July 1st. Susquehanna Bancshares cut their price objective on shares of Realogy from $8.00 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Compass Point raised shares of Realogy from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods cut their price objective on shares of Realogy from $10.00 to $5.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 13th. Finally, Evercore ISI raised shares of Realogy from an “in-line” rating to an “outperform” rating and set a $13.00 price objective on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $9.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in RLGY. Advisor Group Inc. lifted its position in Realogy by 52.4% in the 4th quarter. Advisor Group Inc. now owns 10,735 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 3,690 shares in the last quarter. Bank of America Corp DE lifted its position in Realogy by 211.5% in the 4th quarter. Bank of America Corp DE now owns 1,557,997 shares of the financial services provider’s stock valued at $15,081,000 after acquiring an additional 1,057,759 shares in the last quarter. Man Group plc bought a new position in Realogy in the 4th quarter valued at about $341,000. Mason Street Advisors LLC lifted its position in Realogy by 2.6% in the 4th quarter. Mason Street Advisors LLC now owns 39,826 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 1,007 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Realogy by 13.5% in the 4th quarter. Geode Capital Management LLC now owns 1,666,185 shares of the financial services provider’s stock valued at $16,128,000 after acquiring an additional 197,568 shares in the last quarter.

The firm has a market cap of $1.05 billion, a P/E ratio of -1.76 and a beta of 2.78. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 2.24. The company’s 50-day moving average is $7.56 and its two-hundred day moving average is $7.03.

Realogy Company Profile (NYSE:RLGY)

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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