Douglas Elliman (NYSE:DOUG) Announces Earnings Results

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

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 Trading Down 1.4%

Shares of DOUG traded down $0.03 during midday trading on Friday, reaching $1.76. The stock had a trading volume of 456,280 shares, compared to its average volume of 296,623. The company has a market capitalization of $160.46 million, a price-to-earnings ratio of -25.21 and a beta of 1.86. Douglas Elliman has a 12-month low of $1.53 and a 12-month high of $3.19. The company’s 50-day moving average is $1.79 and its 200 day moving average is $1.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Douglas Elliman in a research note on Wednesday. Wall Street Zen lowered Douglas Elliman from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On Douglas Elliman

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kanen Wealth Management LLC bought a new position in shares of Douglas Elliman in the first quarter worth approximately $25,000. Walleye Capital LLC purchased a new position in shares of Douglas Elliman during the second quarter valued at approximately $29,000. SG Americas Securities LLC purchased a new stake in shares of Douglas Elliman in the 4th quarter worth about $34,000. Virtu Financial LLC bought a new stake in Douglas Elliman during the 4th quarter valued at approximately $36,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Douglas Elliman during the fourth quarter valued at approximately $40,000. 59.56% of the stock is currently owned by institutional investors.

About Douglas Elliman

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.