Zacks: Analysts Anticipate Redfin Corp (NASDAQ:RDFN) Will Post Earnings of $0.05 Per Share

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Brokerages predict that Redfin Corp (NASDAQ:RDFN) will announce $0.05 earnings per share for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Redfin’s earnings. The highest EPS estimate is $0.13 and the lowest is ($0.03). Redfin reported earnings of $0.04 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The firm is scheduled to report its next earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Redfin will report full-year earnings of ($0.93) per share for the current fiscal year, with EPS estimates ranging from ($1.11) to ($0.62). For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.81) per share, with EPS estimates ranging from ($1.01) to ($0.38). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Redfin.

Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, August 1st. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. Redfin had a negative return on equity of 25.83% and a negative net margin of 15.47%. The business had revenue of $197.80 million during the quarter, compared to analysts’ expectations of $190.35 million. During the same quarter last year, the firm posted $0.04 earnings per share. The firm’s revenue was up 38.7% on a year-over-year basis.

Several research firms recently commented on RDFN. Cowen set a $24.00 target price on Redfin and gave the stock a “buy” rating in a research note on Friday, June 21st. Stifel Nicolaus raised their price objective on Redfin from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. DA Davidson set a $16.00 price objective on Redfin and gave the company a “hold” rating in a research note on Tuesday, July 2nd. TheStreet cut Redfin from a “c-” rating to a “d+” rating in a research note on Tuesday, May 14th. Finally, BidaskClub raised Redfin from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.67.

NASDAQ RDFN traded up $0.25 during trading hours on Tuesday, hitting $17.01. 1,365,500 shares of the company’s stock were exchanged, compared to its average volume of 1,195,811. The stock has a 50-day simple moving average of $17.99 and a 200 day simple moving average of $18.89. Redfin has a 1-year low of $13.50 and a 1-year high of $23.47. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -34.71 and a beta of 1.36. The company has a current ratio of 3.91, a quick ratio of 3.19 and a debt-to-equity ratio of 0.54.

In related news, insider Adam Wiener sold 5,000 shares of Redfin stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $18.03, for a total transaction of $90,150.00. Following the transaction, the insider now owns 255,503 shares of the company’s stock, valued at $4,606,719.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher John Nielsen sold 3,000 shares of Redfin stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $17.35, for a total value of $52,050.00. Following the transaction, the chief financial officer now directly owns 8,542 shares in the company, valued at approximately $148,203.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,000 shares of company stock worth $727,640. 8.20% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in RDFN. RFG Advisory LLC lifted its holdings in Redfin by 8.1% during the second quarter. RFG Advisory LLC now owns 11,363 shares of the company’s stock worth $203,000 after acquiring an additional 850 shares during the period. Penserra Capital Management LLC bought a new stake in Redfin during the first quarter worth $25,000. Legal & General Group Plc lifted its holdings in Redfin by 4.4% during the fourth quarter. Legal & General Group Plc now owns 31,859 shares of the company’s stock worth $459,000 after acquiring an additional 1,333 shares during the period. Keybank National Association OH lifted its holdings in Redfin by 6.4% during the first quarter. Keybank National Association OH now owns 27,492 shares of the company’s stock worth $557,000 after acquiring an additional 1,660 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its holdings in Redfin by 3.5% during the second quarter. UBS Asset Management Americas Inc. now owns 50,601 shares of the company’s stock worth $910,000 after acquiring an additional 1,730 shares during the period. 92.70% of the stock is currently owned by institutional investors.

About Redfin

Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.

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Earnings History and Estimates for Redfin (NASDAQ:RDFN)

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