Redfin Co. (NASDAQ:RDFN – Get Rating) – Equities researchers at Jefferies Financial Group upped their Q1 2022 earnings per share (EPS) estimates for shares of Redfin in a report issued on Monday, April 25th. Jefferies Financial Group analyst J. Colantuoni now anticipates that the company will post earnings of ($1.12) per share for the quarter, up from their previous forecast of ($1.13). Jefferies Financial Group has a “Hold” rating and a $32.00 price objective on the stock. Jefferies Financial Group also issued estimates for Redfin’s Q3 2022 earnings at ($0.29) EPS, Q4 2022 earnings at ($0.18) EPS, FY2022 earnings at ($2.26) EPS, Q1 2023 earnings at ($1.11) EPS, Q2 2023 earnings at ($0.57) EPS, Q3 2023 earnings at ($0.14) EPS, Q4 2023 earnings at $0.00 EPS, FY2023 earnings at ($1.82) EPS, Q1 2024 earnings at ($1.08) EPS and FY2024 earnings at ($1.29) EPS.
Redfin (NASDAQ:RDFN – Get Rating) last announced its quarterly earnings results on Thursday, February 17th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.05. Redfin had a negative net margin of 5.70% and a negative return on equity of 33.81%. The company had revenue of $643.06 million for the quarter, compared to analysts’ expectations of $599.20 million. During the same quarter in the previous year, the business posted $0.11 earnings per share.
Shares of RDFN opened at $12.21 on Wednesday. The company’s fifty day moving average is $18.39 and its 200 day moving average is $32.46. Redfin has a fifty-two week low of $11.68 and a fifty-two week high of $72.69. The stock has a market capitalization of $1.30 billion, a PE ratio of -10.81 and a beta of 1.83. The company has a debt-to-equity ratio of 3.92, a quick ratio of 2.21 and a current ratio of 3.10.
In related news, CEO Glenn Kelman sold 30,000 shares of Redfin stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $20.54, for a total value of $616,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Mylod, Jr. sold 2,750 shares of Redfin stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $22.30, for a total value of $61,325.00. The disclosure for this sale can be found here. Insiders have sold 70,000 shares of company stock valued at $1,443,355 over the last three months. Insiders own 6.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Bares Capital Management Inc. raised its holdings in Redfin by 23.5% in the fourth quarter. Bares Capital Management Inc. now owns 12,848,888 shares of the company’s stock worth $493,269,000 after purchasing an additional 2,444,167 shares in the last quarter. BlackRock Inc. raised its holdings in Redfin by 4.0% in the third quarter. BlackRock Inc. now owns 7,388,306 shares of the company’s stock worth $370,155,000 after purchasing an additional 282,111 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Redfin by 45.9% in the third quarter. Janus Henderson Group PLC now owns 6,232,964 shares of the company’s stock worth $312,271,000 after purchasing an additional 1,960,917 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Redfin by 82.2% in the third quarter. Bank of New York Mellon Corp now owns 2,472,823 shares of the company’s stock worth $123,889,000 after purchasing an additional 1,115,726 shares in the last quarter. Finally, Contour Asset Management LLC raised its holdings in Redfin by 28.8% in the fourth quarter. Contour Asset Management LLC now owns 2,152,231 shares of the company’s stock worth $82,624,000 after purchasing an additional 481,277 shares in the last quarter. Hedge funds and other institutional investors own 89.56% of the company’s stock.
Redfin Company Profile (Get Rating)
Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; originates and sells mortgages; and buys and sells homes.
- Get a free copy of the StockNews.com research report on Redfin (RDFN)
- Las Vegas Sands Stock Could be a Winning Bet Down Here
- Newmont Corporation is the Same as It’s Always Been Which is Why It’s a Buy
- The Sherwin-Williams Company Bottoms Above Institutional Support
- Simpson Manufacturing Co. Hits The Nail On The Head, Again
- What To Make Of Activision Blizzard (NASDAQ: ATVI)
Receive News & Ratings for Redfin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redfin and related companies with MarketBeat.com's FREE daily email newsletter.