Brokerages Anticipate Zillow Group, Inc. (NASDAQ:ZG) Will Announce Quarterly Sales of $1.00 Billion

Wall Street analysts expect Zillow Group, Inc. (NASDAQ:ZG – Get Rating) to post sales of $1.00 billion for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Zillow Group’s earnings. The highest sales estimate is $1.03 billion and the lowest is $972.71 million. Zillow Group reported sales of $1.31 billion in the same quarter last year, which would suggest a negative year over year growth rate of 23.7%. The company is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Zillow Group will report full-year sales of $6.38 billion for the current year, with estimates ranging from $6.34 billion to $6.40 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.37 billion, with estimates ranging from $2.26 billion to $2.43 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Zillow Group.

Zillow Group (NASDAQ:ZG – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The technology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.56. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Zillow Group had a negative net margin of 5.04% and a negative return on equity of 7.61%. The business’s quarterly revenue was up 249.5% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS.

Several research analysts have recently weighed in on ZG shares. Stifel Nicolaus boosted their price target on Zillow Group from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Friday, February 11th. The Goldman Sachs Group started coverage on Zillow Group in a research report on Wednesday, March 30th. They set a “neutral” rating and a $57.00 price target on the stock. Susquehanna Bancshares decreased their target price on shares of Zillow Group from $62.00 to $41.00 in a research note on Monday, May 9th. Benchmark cut their target price on Zillow Group from $115.00 to $65.00 in a research report on Friday, May 6th. Finally, Royal Bank of Canada lowered their target price on shares of Zillow Group from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, April 26th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $80.95.

Shares of Zillow Group stock opened at $40.92 on Tuesday. The company has a market capitalization of $10.08 billion, a P/E ratio of -18.43 and a beta of 1.49. The company has a current ratio of 3.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $44.99 and a 200 day simple moving average of $52.14. Zillow Group has a 12-month low of $33.26 and a 12-month high of $124.90.

In other news, CAO Jennifer Rock sold 1,965 shares of the stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $41.21, for a total transaction of $80,977.65. Following the completion of the sale, the chief accounting officer now owns 69,571 shares in the company, valued at $2,867,020.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Allen Parker sold 6,755 shares of Zillow Group stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $41.20, for a total transaction of $278,306.00. Following the sale, the chief financial officer now owns 154,260 shares of the company’s stock, valued at $6,355,512. The disclosure for this sale can be found here. In the last three months, insiders sold 19,856 shares of company stock valued at $805,708. Insiders own 18.52% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its holdings in shares of Zillow Group by 4.6% during the 3rd quarter. Morgan Stanley now owns 3,250,359 shares of the technology company’s stock worth $287,917,000 after buying an additional 144,255 shares during the period. BlackRock Inc. boosted its stake in Zillow Group by 3.5% during the 3rd quarter. BlackRock Inc. now owns 2,811,861 shares of the technology company’s stock worth $249,073,000 after acquiring an additional 95,638 shares during the last quarter. Norges Bank bought a new position in Zillow Group in the fourth quarter valued at approximately $81,054,000. State Street Corp raised its holdings in shares of Zillow Group by 0.4% in the fourth quarter. State Street Corp now owns 1,247,937 shares of the technology company’s stock valued at $77,647,000 after purchasing an additional 4,848 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Zillow Group by 24.4% during the fourth quarter. Geode Capital Management LLC now owns 940,053 shares of the technology company’s stock worth $58,410,000 after buying an additional 184,507 shares during the last quarter. 20.82% of the stock is owned by institutional investors and hedge funds.

About Zillow Group (Get Rating)

Zillow Group, Inc, a digital real estate company, operates real estate brands on mobile applications and Websites in the United States. The company operates through three segments: Homes; Internet, Media & Technology; and Mortgages. The Homes segment is involved in resale of homes; and title and escrow services to home buyers and sellers, including title search procedures for title insurance policies, escrow, and other closing services.

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