-$0.59 EPS Expected for Redfin Co. (NASDAQ:RDFN) This Quarter

Analysts expect Redfin Co. (NASDAQ:RDFN – Get Rating) to post earnings per share of ($0.59) for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Redfin’s earnings. The highest EPS estimate is ($0.44) and the lowest is ($0.65). Redfin reported earnings per share of ($0.29) during the same quarter last year, which suggests a negative year-over-year growth rate of 103.4%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Redfin will report full year earnings of ($2.04) per share for the current fiscal year, with EPS estimates ranging from ($2.81) to ($1.70). For the next financial year, analysts forecast that the company will report earnings of ($1.44) per share, with EPS estimates ranging from ($2.29) to ($0.23). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Redfin.

Redfin (NASDAQ:RDFN – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($1.09) by $0.23. The company had revenue of $597.30 million for the quarter, compared to analyst estimates of $553.97 million. Redfin had a negative net margin of 7.31% and a negative return on equity of 53.87%. The firm’s revenue was up 122.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.37) earnings per share.

RDFN has been the topic of several recent research reports. Wedbush cut their target price on shares of Redfin from $38.00 to $29.00 in a research note on Friday, February 18th. Truist Financial dropped their price target on shares of Redfin from $42.00 to $31.00 in a research note on Friday, May 6th. Royal Bank of Canada cut shares of Redfin from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $60.00 to $23.00 in a research note on Friday, February 18th. The Goldman Sachs Group reduced their price objective on shares of Redfin from $20.00 to $17.50 and set a “neutral” rating for the company in a research note on Tuesday, April 19th. Finally, Stifel Nicolaus lowered their price objective on shares of Redfin from $44.00 to $36.00 and set a “hold” rating on the stock in a research note on Friday, February 18th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.58.

Shares of NASDAQ RDFN traded up $0.03 during trading on Monday, hitting $10.46. 33,949 shares of the company were exchanged, compared to its average volume of 2,378,955. The firm has a market capitalization of $1.12 billion, a PE ratio of -6.42 and a beta of 1.99. The company has a debt-to-equity ratio of 5.26, a quick ratio of 2.21 and a current ratio of 3.66. The company has a fifty day moving average price of $14.79 and a 200-day moving average price of $27.26. Redfin has a 12-month low of $8.65 and a 12-month high of $65.41.

In related news, Director Robert J. Mylod, Jr. sold 2,750 shares of Redfin stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $22.30, for a total value of $61,325.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Glenn Kelman sold 15,000 shares of Redfin stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $10.54, for a total value of $158,100.00. Following the completion of the transaction, the chief executive officer now owns 1,226,502 shares of the company’s stock, valued at $12,927,331.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,000 shares of company stock worth $1,761,655. Insiders own 6.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ETF Managers Group LLC acquired a new stake in Redfin during the fourth quarter worth about $62,000. First Mercantile Trust Co. bought a new position in Redfin during the 3rd quarter worth $71,000. Focused Wealth Management Inc grew its stake in Redfin by 566.7% during the 4th quarter. Focused Wealth Management Inc now owns 2,000 shares of the company’s stock worth $77,000 after buying an additional 1,700 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Redfin during the 1st quarter worth $83,000. Finally, Point72 Hong Kong Ltd bought a new position in Redfin during the 4th quarter worth $162,000. Hedge funds and other institutional investors own 97.94% of the company’s stock.

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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