Will Douglas Elliman Inc. (DOUG) Report Negative Q2 Earnings? What You Should Know

Shares of Saia, Inc. fell sharply during Friday's session after the company reported worse-than-expected second-quarter financial results.

Saia reported quarterly earnings of $3.83 per share which missed the analyst consensus estimate of $4.00 per share. The company reported quarterly sales of $823.24 million which missed the analyst consensus estimate of $826.55 million, according to data from Benzinga Pro.

Saia shares dipped 18.6% to $398.01 on Friday.

Here are some other stocks moving in today’s mid-day session.

Gainers

• BurgerFi International, Inc. gained 117.4% to $0.4639 after the company announced it reached a legal settlement agreement with Lion Point Capital. The company agreed to pay $1,350,000 and issue Lion Point 300,000 of preferred stock.
• Windtree Therapeutics, Inc. shares jumped 101.3% to $6.67 after the company filed a request for the withdrawal of its registration statement on a Form S-1.
• Regencell Bioscience Holdings Limited gained 53% to $13.94.
• Coursera, Inc. shares gained 46.2% to $10.83 after the company beat second-quarter earnings estimates.
• Carbon Revolution Public Limited Company shares climbed 43.3% to $8.84. Carbon Revolution said it will supply the carbon fiber wheels available on the just-revealed Chevrolet Corvette ZR1.
• Everi Holdings Inc. rose 41.1% to $12.93 after it entered an agreement to be acquired by funds managed by Apollo affiliates for $14.25 per share in cash.
• Nauticus Robotics, Inc. K gained 37% to $4.45.
• Newell Brands Inc. jumped 36.6% to $8.66 on better-than-expected second-quarter earnings and raising FY24 outlook.
• Sangamo Therapeutics, Inc. gained 35% to $0.9043.
• CEL-SCI Corporation rose 28% to $1.55 after the company announced results from a bias analysis conducted for its concluded Phase 3 study of Multikine. Multikine cut the 5-year risk of death by half compared to control in its target population.
• AudioEye, Inc. rose 25% to $24.52 following second-quarter results.
• Pineapple Financial Inc. gained 24.4% to $1.1760. Pineapple Financial CSO Christa Lillian Mitchell bought a total of 2,000 shares at an average price of $0.88.
• Douglas Elliman Inc. climbed 23% to $1.66.
• CareMax, Inc. rose 19% to $6.71.
• Liberty Broadband Corporation rose 17.6% to $65.16.
• Charter Communications, Inc. jumped 17% to $368.65 after the company reported better-than-expected second-quarter financial results.
• Mohawk Industries, Inc. gained 16.5% to $156.70 following mixed second-quarter earnings.
• Karooooo Ltd gained 16% to $33.40. Karooooo announced termination of secondary public offering of ordinary shares due to market conditions.
• 3M Company climbed 15% to $118.99 after better-than-expected second-quarter financial results and FY24 EPS outlook raise.
• International Game Technology PLC gained 13.4% to $22.86 after the company entered an agreement for its Gaming & Digital business to be acquired by funds managed by affiliates of Apollo.
• Altice USA, Inc. rose 12.1% to $1.76.
• Stardust Power Inc. S rose 11% to $15.06.
• Avantor, Inc. surged 11% to $25.32 after the company reported better-than-expected second-quarter earnings results.
• Norfolk Southern Corporation gained 10.7% to $246.86 after the company reported better-than-expected second-quarter earnings results.
• Selina Hospitality PLC shares gained 10.4% to $0.0415 after falling over 17% on Thursday.
• Viasat, Inc. rose 9% to $20.58. Viasat announced new reporting segment structure.
• Deckers Outdoor Corporation shares gained 8.7% to $914.71 as the company reported better-than-expected results for the first quarter. The company said it still expects net sales to increase approximately 10% year-over-year in fiscal year 2025 to $4.7 billion.
• Bristol-Myers Squibb Company climbed 7.6% to $48.69 following strong second-quarter earnings and increased 2024 guidance.
• Centene Corporation climbed 7.6% to $72.55 following better-than-expected second-quarter financial results and increased 2024 guidance.
• Columbia Banking System, Inc. rose 7.4% to $25.98 after the company reported better-than-expected quarterly earnings results. Also, multiple firms raised their respective price targets on its stock.
• Aon plc gained 6.8% to $319.30 after the company reported better-than-expected quarterly revenue results.
• Ultra Clean Holdings, Inc. shares gained 4.7% to $47.26 following better-than-expected quarterly results.

Losers

• NovaBay Pharmaceuticals, Inc. shares dipped 59.6% to $0.7830 after the company reported pricing of $3.5 million underwritten public offering.
• Tantech Holdings Ltd fell 46.9% to $0.2603.
• Nature’s Miracle Holding Inc fell 46.4% to $0.2099 after the company announced pricing of $1.2 million public offering.
• DexCom, Inc. shares declined 40.7% to $63.97 after the company reported worse-than-expected second-quarter revenue results and issued weak FY24 revenue guidance.
• Predictive Oncology Inc. fell 29.6% to $1.3150. Predictive Oncology announced exercise of warrants for $1.26 million gross proceeds.
• ProMIS Neurosciences, Inc. declined 29.2% to $1.5006 as the company reported top-line data from its Phase 1a Alzheimer’s trial and announced up to $122.7 million private placement financing.
• PS International Group Ltd. P dipped 26.1% to $1.53
• Grom Social Enterprises, Inc. fell 23.8% to $0.2751.
• Ocean Power Technologies, Inc. shares declined 23.2% to $0.3188 after reporting fourth-quarter results.
• Avinger, Inc. fell 20.2% to $1.30.
• Next Technology Holding Inc. declined 20.1% to $1.6299.
• Zynex, Inc. shares fell 18.9% to $8.27 after the company reported worse-than-expected second-quarter financial results.
• 2U, Inc. declined 17.6% to $1.24.
• Ur-Energy Inc. shares dipped 13.4% to $1.1250 after the company announced a proposed public offering of common shares.
• BJ’s Restaurants, Inc. fell 12.6% to $32.53 following quarterly results.
• Booz Allen Hamilton Holding Corporation declined 11.8% to $135.36 following a first-quarter earnings miss and soft EPS guidance.
• Advent Technologies Holdings, Inc. shares fell 11.2% to $4.40 after gaining 3% on Thursday.
• Tarsus Pharmaceuticals, Inc. fell 9.1% to $25.67.
• World Acceptance Corporation dipped 7.8% to $134.62 following weak quarterly sales.
• Forward Air Corporation fell 7.4% to $25.61.
• Olin Corporation shares declined 7.2% to $44.56 following a second-quarter earnings miss.
• Carter’s, Inc. shares fell 6.6% to $55.87 following weak quarterly sales.
• Biogen Inc. declined 6.3% to $213.01 after the European Medicines Agency adopted a negative opinion on the Marketing Authorization Approval for lecanemab.
• Tandem Diabetes Care, Inc. shares fell 6% to $38.18. Tandem Diabetes Care will release its second quarter results after the closing bell on Thursday, Aug. 1.
• L3Harris Technologies, Inc. declined 4.6% to $232.05 following second-quarter results.

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Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.

While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

Below, we take a look at Newmark Group , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.

It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Newmark Group currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.

You can see the current list of Zacks #1 Rank Stocks here

Set to Beat the Market?

In order to see if NMRK is a promising momentum pick, let's examine some Momentum Style elements to see if this provider of commercial real estate services holds up.

A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.

For NMRK, shares are up 5.16% over the past week while the Zacks Real Estate - Operations industry is flat over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 23.13% compares favorably with the industry's 1.35% performance as well.

While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Newmark Group have increased 23.75% over the past quarter, and have gained 81.08% in the last year. In comparison, the S&P 500 has only moved 7.34% and 19.81%, respectively.

Investors should also pay attention to NMRK's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. NMRK is currently averaging 1,065,243 shares for the last 20 days.

Earnings Outlook

The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with NMRK.

Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. These revisions helped boost NMRK's consensus estimate, increasing from $1.12 to $1.13 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.

Bottom Line

Taking into account all of these elements, it should come as no surprise that NMRK is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Newmark Group on your short list.

Zacks Investment Research

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One company to watch right now is Newmark Group . NMRK is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 9.62 right now. For comparison, its industry sports an average P/E of 15.80. Over the past 52 weeks, NMRK's Forward P/E has been as high as 10.49 and as low as 4.83, with a median of 8.31.

Value investors also love the P/S ratio, which is calculated by simply dividing a stock's price with the company's sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. NMRK has a P/S ratio of 0.85. This compares to its industry's average P/S of 1.69.

Finally, investors will want to recognize that NMRK has a P/CF ratio of 6.27. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 7.81. Over the past year, NMRK's P/CF has been as high as 13.42 and as low as 5, with a median of 7.04.

Value investors will likely look at more than just these metrics, but the above data helps show that Newmark Group is likely undervalued currently. And when considering the strength of its earnings outlook, NMRK sticks out at as one of the market's strongest value stocks.

Zacks Investment Research

Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.

Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.

It could be safer to invest in bargain stocks that have been witnessing price momentum recently. While the Zacks Momentum Style Score (part of the Zacks Style Scores system), which pays close attention to trends in a stock's price or earnings, is pretty useful in identifying great momentum stocks, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.

There are several stocks that currently pass through the screen and Newmark Group is one of them. Here are the key reasons why this stock is a great candidate.

A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 23.1%, the stock of this provider of commercial real estate services is certainly well-positioned in this regard.

While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. NMRK meets this criterion too, as the stock gained 23.8% over the past 12 weeks.

Moreover, the momentum for NMRK is fast paced, as the stock currently has a beta of 2.02. This indicates that the stock moves 102% higher than the market in either direction.

Given this price performance, it is no surprise that NMRK has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.

In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped NMRK earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here

Most importantly, despite possessing fast-paced momentum features, NMRK is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. NMRK is currently trading at 0.85 times its sales. In other words, investors need to pay only 85 cents for each dollar of sales.

So, NMRK appears to have plenty of room to run, and that too at a fast pace.

In addition to NMRK, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.

This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.

However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.

Click here to sign up for a free trial to the Research Wizard today.

Zacks Investment Research