Piper Jaffray Companies Lowers Realogy (RLGY) to Neutral

Piper Jaffray Companies downgraded shares of Realogy (NYSE:RLGY) from an overweight rating to a neutral rating in a report issued on Monday, MarketBeat reports. The firm currently has $19.00 price target on the financial services provider’s stock, down from their prior price target of $32.00. Piper Jaffray Companies also issued estimates for Realogy’s Q4 2018 earnings at $0.11 EPS, FY2018 earnings at $1.56 EPS, Q1 2019 earnings at ($0.43) EPS, Q2 2019 earnings at $1.01 EPS, Q3 2019 earnings at $0.90 EPS, Q4 2019 earnings at $0.14 EPS, FY2019 earnings at $1.62 EPS and FY2020 earnings at $1.88 EPS.

Separately, Zacks Investment Research cut shares of Realogy from a hold rating to a sell rating in a research note on Tuesday, August 7th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Realogy currently has an average rating of Hold and an average price target of $27.86.

Shares of RLGY stock opened at $19.11 on Monday. The company has a market cap of $2.17 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 0.53 and a beta of 1.19. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.56 and a current ratio of 0.58. Realogy has a 12 month low of $17.43 and a 12 month high of $28.07.

Realogy (NYSE:RLGY) last announced its quarterly earnings results on Friday, November 2nd. The financial services provider reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.07). The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Realogy had a net margin of 6.71% and a return on equity of 8.74%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. As a group, research analysts forecast that Realogy will post 1.74 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.88%. The ex-dividend date is Wednesday, November 14th. Realogy’s dividend payout ratio is presently 22.93%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd lifted its stake in Realogy by 649.3% in the 2nd quarter. Point72 Hong Kong Ltd now owns 6,849 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 5,935 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Realogy in the 2nd quarter worth approximately $158,000. Federated Investors Inc. PA purchased a new stake in Realogy in the 2nd quarter worth approximately $222,000. Crossmark Global Holdings Inc. purchased a new stake in Realogy in the 3rd quarter worth approximately $209,000. Finally, Oregon Public Employees Retirement Fund purchased a new stake in Realogy in the 3rd quarter worth approximately $219,000.

About Realogy

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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Analyst Recommendations for Realogy (NYSE:RLGY)

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