Zacks: Brokerages Expect Redfin Co. (NASDAQ:RDFN) Will Post Earnings of -$1.09 Per Share

Wall Street analysts forecast that Redfin Co. (NASDAQ:RDFN – Get Rating) will report earnings of ($1.09) per share for the current quarter, Zacks reports. Seven analysts have made estimates for Redfin’s earnings, with the lowest EPS estimate coming in at ($1.13) and the highest estimate coming in at ($0.93). Redfin posted earnings per share of ($0.37) in the same quarter last year, which would indicate a negative year over year growth rate of 194.6%. The company is scheduled to report its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Redfin will report full-year earnings of ($1.98) per share for the current financial year, with EPS estimates ranging from ($2.26) to ($1.54). For the next financial year, analysts forecast that the company will report earnings of ($1.49) per share, with EPS estimates ranging from ($1.83) to ($0.60). Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Redfin.

Redfin (NASDAQ:RDFN – Get Rating) last posted its quarterly earnings data on Thursday, February 17th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.05. The business had revenue of $643.06 million during the quarter, compared to analyst estimates of $599.20 million. Redfin had a negative net margin of 5.70% and a negative return on equity of 33.81%. During the same quarter in the previous year, the business posted $0.11 earnings per share.

A number of equities research analysts recently issued reports on RDFN shares. Royal Bank of Canada downgraded shares of Redfin from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $60.00 to $23.00 in a report on Friday, February 18th. Wedbush lowered their target price on shares of Redfin from $38.00 to $29.00 in a report on Friday, February 18th. Stephens downgraded shares of Redfin from an “overweight” rating to an “equal weight” rating in a report on Friday, February 18th. Jefferies Financial Group lowered their target price on shares of Redfin from $40.00 to $32.00 and set a “hold” rating for the company in a report on Thursday, February 3rd. Finally, The Goldman Sachs Group lowered their target price on shares of Redfin from $20.00 to $17.50 and set a “neutral” rating for the company in a report on Tuesday, April 19th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.89.

Shares of NASDAQ:RDFN traded up $0.89 during trading on Monday, reaching $12.04. The stock had a trading volume of 188,125 shares, compared to its average volume of 2,032,770. The business has a fifty day moving average price of $17.61 and a 200-day moving average price of $31.52. The company has a quick ratio of 2.21, a current ratio of 3.10 and a debt-to-equity ratio of 3.92. The stock has a market cap of $1.28 billion, a P/E ratio of -10.65 and a beta of 1.83. Redfin has a fifty-two week low of $11.09 and a fifty-two week high of $71.99.

In other Redfin news, CFO Christopher John Nielsen sold 4,500 shares of the firm’s stock in a transaction on Monday, April 18th. The shares were sold at an average price of $14.16, for a total transaction of $63,720.00. Following the completion of the transaction, the chief financial officer now directly owns 69,140 shares of the company’s stock, valued at approximately $979,022.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert J. Mylod, Jr. sold 2,750 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $22.30, for a total transaction of $61,325.00. The disclosure for this sale can be found here. Insiders sold 70,000 shares of company stock valued at $1,443,355 over the last 90 days. Insiders own 6.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System increased its holdings in Redfin by 1.0% in the third quarter. Arizona State Retirement System now owns 25,506 shares of the company’s stock valued at $1,278,000 after buying an additional 257 shares during the last quarter. Waldron Private Wealth LLC increased its holdings in Redfin by 7.6% in the fourth quarter. Waldron Private Wealth LLC now owns 5,397 shares of the company’s stock valued at $207,000 after buying an additional 382 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Redfin by 12.3% in the third quarter. CIBC Asset Management Inc now owns 4,235 shares of the company’s stock valued at $212,000 after buying an additional 464 shares during the last quarter. Eaton Vance Management increased its holdings in Redfin by 1.2% in the third quarter. Eaton Vance Management now owns 38,966 shares of the company’s stock valued at $1,928,000 after buying an additional 475 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Redfin by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 185,445 shares of the company’s stock valued at $7,120,000 after buying an additional 498 shares during the last quarter. 97.94% of the stock is owned by hedge funds and other institutional investors.

About Redfin (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.

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