Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Cushman & Wakefield (NYSE:CWK) and its peers.
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 13 real estate services stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 4.3% while next quarter’s revenue guidance was 0.5% below.
In light of this news, share prices of the companies have held steady as they are up 1.3% on average since the latest earnings results.
Cushman & Wakefield (NYSE:CWK)
With expertise in the commercial real estate sector, Cushman & Wakefield (NYSE:CWK) is a global Chicago-based real estate firm offering a comprehensive range of services to clients.
Cushman & Wakefield reported revenues of $2.61 billion, up 11.2% year on year. This print exceeded analysts’ expectations by 7.9%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
The stock is down 1.1% since reporting and currently trades at $16.35.
Is now the time to buy Cushman & Wakefield? Access our full analysis of the earnings results here, it’s free.
Best Q3: Howard Hughes Holdings (NYSE:HHH)
Named after the eccentric business magnate and aviator whose legacy lives on in real estate development, Howard Hughes Holdings (NYSE:HHH) develops, owns, and manages master-planned communities and commercial properties across the United States.
Howard Hughes Holdings reported revenues of $390.2 million, up 19.3% year on year, outperforming analysts’ expectations by 15.7%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.
Howard Hughes Holdings scored the biggest analyst estimates beat among its peers. The market seems content with the results as the stock is up 2.2% since reporting. It currently trades at $81.82.
Is now the time to buy Howard Hughes Holdings? Access our full analysis of the earnings results here, it’s free.
Weakest Q3: Offerpad (NYSE:OPAD)
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 34.3% since the results and currently trades at $1.53.
Read our full analysis of Offerpad’s results here.
Compass (NYSE:COMP)
Fueled by its mission to replace the "paper-driven, antiquated workflow" of buying a house, Compass (NYSE:COMP) is a digital-first company operating a residential real estate brokerage in the United States.
Compass reported revenues of $1.85 billion, up 23.6% year on year. This number surpassed analysts’ expectations by 3.2%. It was a very strong quarter as it also produced EBITDA guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ EBITDA estimates.
The stock is up 56.2% since reporting and currently trades at $12.15.
Read our full, actionable report on Compass here, it’s free.
Marcus & Millichap (NYSE:MMI)
Founded in 1971, Marcus & Millichap (NYSE:MMI) specializes in commercial real estate investment sales, financing, research, and advisory services.
Marcus & Millichap reported revenues of $193.9 million, up 15.1% year on year. This print met analysts’ expectations. Overall, it was an exceptional quarter as it also logged EPS in line with analysts’ estimates and a solid beat of analysts’ EBITDA estimates.
The stock is down 10.8% since reporting and currently trades at $26.31.
Read our full, actionable report on Marcus & Millichap here, it’s free.
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