Redfin Corp (NASDAQ:RDFN) – Equities researchers at Wedbush boosted their Q3 2020 earnings per share estimates for Redfin in a research note issued on Thursday, November 7th. Wedbush analyst Y. Arounian now forecasts that the company will post earnings of $0.16 per share for the quarter, up from their prior forecast of $0.15. Wedbush currently has a “Buy” rating and a $30.00 target price on the stock.
Several other research analysts also recently commented on the stock. Susquehanna Bancshares set a $23.00 price target on shares of Redfin and gave the company a “buy” rating in a report on Tuesday, October 8th. Stephens set a $24.00 price target on shares of Redfin and gave the company a “buy” rating in a report on Monday, September 9th. Craig Hallum raised shares of Redfin from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Wednesday, August 21st. Stifel Nicolaus raised their price target on shares of Redfin from $20.00 to $22.00 and gave the company a “hold” rating in a report on Thursday. Finally, Compass Point raised shares of Redfin from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a report on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $23.18.
RDFN opened at $20.19 on Friday. The company has a 50 day moving average of $17.22 and a 200 day moving average of $17.75. The company has a market cap of $1.73 billion, a PE ratio of -41.20 and a beta of 1.38. Redfin has a 12 month low of $13.50 and a 12 month high of $23.47. The company has a current ratio of 3.91, a quick ratio of 3.19 and a debt-to-equity ratio of 0.54.
Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The company had revenue of $238.68 million during the quarter, compared to the consensus estimate of $229.94 million. Redfin had a negative net margin of 15.47% and a negative return on equity of 25.83%. Redfin’s revenue for the quarter was up 70.2% on a year-over-year basis. During the same period last year, the firm earned $0.14 EPS.
In other news, Director Robert J. Mylod, Jr. sold 6,968 shares of Redfin stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $17.54, for a total transaction of $122,218.72. Following the completion of the sale, the director now directly owns 4,516 shares of the company’s stock, valued at approximately $79,210.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher John Nielsen sold 3,000 shares of Redfin stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $16.57, for a total transaction of $49,710.00. Following the sale, the chief financial officer now directly owns 9,924 shares of the company’s stock, valued at $164,440.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 150,250 shares of company stock valued at $2,636,734. Insiders own 8.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new stake in shares of Redfin during the 3rd quarter worth $25,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Redfin by 28.8% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 3,646 shares of the company’s stock worth $61,000 after acquiring an additional 815 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Redfin during the 3rd quarter worth $172,000. California Public Employees Retirement System lifted its holdings in shares of Redfin by 9.9% during the 3rd quarter. California Public Employees Retirement System now owns 162,700 shares of the company’s stock worth $2,740,000 after acquiring an additional 14,700 shares during the last quarter. Finally, Usca Ria LLC bought a new stake in shares of Redfin during the 3rd quarter worth $51,000. 88.98% of the stock is owned by institutional investors.
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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