Redfin Co. (NASDAQ:RDFN) Expected to Post Q3 2022 Earnings of ($0.95) Per Share

Redfin Co. (NASDAQ:RDFNGet Rating) – Analysts at Oppenheimer cut their Q3 2022 earnings per share estimates for Redfin in a note issued to investors on Sunday, November 6th. Oppenheimer analyst J. Helfstein now anticipates that the company will post earnings of ($0.95) per share for the quarter, down from their previous estimate of ($0.81). Oppenheimer currently has a “Underperform” rating on the stock. The consensus estimate for Redfin’s current full-year earnings is ($2.94) per share. Oppenheimer also issued estimates for Redfin’s Q4 2022 earnings at ($0.68) EPS, FY2022 earnings at ($3.21) EPS, Q2 2023 earnings at ($0.77) EPS and FY2023 earnings at ($2.31) EPS.

Other equities research analysts have also recently issued reports about the company. Compass Point boosted their price target on Redfin to $9.00 in a research note on Monday, August 22nd. Stifel Nicolaus cut their target price on Redfin from $10.00 to $9.00 in a research note on Monday, August 8th. Jefferies Financial Group cut their target price on Redfin from $12.00 to $6.50 and set a “hold” rating for the company in a research note on Thursday, October 6th. DA Davidson cut their target price on Redfin from $13.50 to $9.50 in a research note on Monday, September 12th. Finally, KeyCorp assumed coverage on Redfin in a research note on Tuesday, July 12th. They set a “sector weight” rating for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.36.

Redfin Stock Up 2.5 %

Shares of RDFN stock opened at $3.72 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 6.84. The stock has a 50 day simple moving average of $5.91 and a 200 day simple moving average of $8.55. Redfin has a 1 year low of $3.32 and a 1 year high of $52.67.

Insider Activity

In other news, Director James Slavet purchased 100,000 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was bought at an average cost of $8.40 per share, for a total transaction of $840,000.00. Following the purchase, the director now owns 202,546 shares of the company’s stock, valued at $1,701,386.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director James Slavet purchased 100,000 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was bought at an average cost of $8.40 per share, for a total transaction of $840,000.00. Following the purchase, the director now owns 202,546 shares of the company’s stock, valued at $1,701,386.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christian John Taubman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $5.99, for a total value of $59,900.00. Following the transaction, the insider now directly owns 42,928 shares of the company’s stock, valued at $257,138.72. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Bogart Wealth LLC raised its position in Redfin by 29.8% during the 3rd quarter. Bogart Wealth LLC now owns 130,778 shares of the company’s stock worth $764,000 after purchasing an additional 29,991 shares during the last quarter. Landscape Capital Management L.L.C. raised its position in Redfin by 200.4% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 232,629 shares of the company’s stock worth $1,359,000 after purchasing an additional 155,189 shares during the last quarter. Great West Life Assurance Co. Can bought a new position in Redfin during the 3rd quarter worth $26,000. Jennison Associates LLC raised its position in Redfin by 39.0% during the 3rd quarter. Jennison Associates LLC now owns 143,210 shares of the company’s stock worth $836,000 after purchasing an additional 40,215 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in Redfin during the 2nd quarter worth $5,610,000. 90.79% of the stock is owned by institutional investors.

About Redfin

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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.

See Also

Earnings History and Estimates for Redfin (NASDAQ:RDFN)

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