Douglas Elliman (NYSE:DOUG) Issues Earnings Results

Douglas Elliman (NYSE:DOUG) released its quarterly earnings results on Friday. The company reported ($0.05) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $283.45 million during the quarter. Douglas Elliman had a negative return on equity of 20.59% and a net margin of 0.50%.

Here are the key takeaways from Douglas Elliman’s conference call:

• Second-quarter performance improved: Revenue rose 8.6% year over year excluding the divested property-management business, while adjusted EBITDA loss narrowed to $1.0 million from $3.6 million and adjusted net loss improved to $3.9 million from $7.3 million.
• Recent housing activity strengthened. Cash receipts from existing-home sales increased 15% in May, 16% in June, and 8% in July, with a 13% weighted-average increase from May through July; the company said Florida, the Hamptons, Texas, Nevada, and Boston led results.
• Douglas Elliman maintained a strong balance sheet with $105 million of cash at June 30 and $121 million at July 31, including a $13 million net settlement receipt, while reporting no long-term debt.
• The development-marketing pipeline totals approximately $26.1 billion in actively marketed gross transaction value, with another $9.7 billion expected to come to market through September 2027, potentially supporting future commission revenue.
• Despite the improved second quarter, first-half profitability deteriorated on an adjusted basis: adjusted EBITDA loss widened to $11.4 million from $4.5 million, adjusted net loss increased to $16.3 million from $11.6 million, and revenue excluding property management declined 1.4% year over year.

Douglas Elliman Stock Down 1.4%

Shares of DOUG stock opened at $1.76 on Friday. The stock has a 50-day simple moving average of $1.79 and a 200 day simple moving average of $1.98. The stock has a market capitalization of $160.46 million, a P/E ratio of 10.38 and a beta of 1.86. Douglas Elliman has a fifty-two week low of $1.53 and a fifty-two week high of $3.19.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DOUG. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Douglas Elliman in a report on Wednesday. Wall Street Zen cut shares of Douglas Elliman from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Douglas Elliman

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Douglas Elliman in the 2nd quarter worth approximately $9,484,000. Vanguard Group Inc. lifted its stake in Douglas Elliman by 2.5% during the third quarter. Vanguard Group Inc. now owns 4,183,114 shares of the company’s stock valued at $11,964,000 after purchasing an additional 100,734 shares during the last quarter. Moerus Capital Management LLC lifted its stake in Douglas Elliman by 5.7% during the first quarter. Moerus Capital Management LLC now owns 3,092,490 shares of the company’s stock valued at $5,072,000 after purchasing an additional 166,500 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Douglas Elliman by 36.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,474,443 shares of the company’s stock worth $7,077,000 after buying an additional 662,603 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Douglas Elliman by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,749,768 shares of the company’s stock worth $4,148,000 after buying an additional 7,411 shares in the last quarter. 59.56% of the stock is owned by institutional investors and hedge funds.

Douglas Elliman Company Profile

Douglas Elliman (NYSE: DOUG) is one of the largest residential real estate brokerages in the United States, offering an array of services that span property sales, leasing and management. Founded in 1911 and headquartered in New York City, the firm has built a reputation for representing high-end residential properties and guiding clients through complex real estate transactions. Over the course of its history, Douglas Elliman has expanded its offerings to include specialized support for developers, investors and individual homeowners.

The company’s core business activities include residential brokerage, new development marketing, and property management.