Redfin (RDFN) Set to Announce Quarterly Earnings on Tuesday

Redfin (NASDAQ:RDFN) will post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Redfin to post earnings of ($0.58) per share for the quarter. Redfin has set its Q1 2024 guidance at EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The business had revenue of $218.08 million for the quarter, compared to the consensus estimate of $220.32 million. During the same quarter in the previous year, the company posted ($0.83) earnings per share. Redfin’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts expect Redfin to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Redfin Trading Up 5.1 %

Shares of NASDAQ RDFN opened at $6.20 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 295.91. Redfin has a one year low of $4.26 and a one year high of $17.68. The business has a 50-day moving average price of $6.16 and a two-hundred day moving average price of $7.13. The firm has a market capitalization of $740.72 million, a PE ratio of -5.30 and a beta of 2.68.

Analyst Upgrades and Downgrades

RDFN has been the subject of several research reports. Royal Bank of Canada decreased their price target on shares of Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Wedbush restated a “neutral” rating and set a $8.00 price target on shares of Redfin in a report on Wednesday, February 28th. Citigroup dropped their price target on shares of Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. DA Davidson reissued a “neutral” rating and set a $6.75 price objective on shares of Redfin in a research report on Friday, March 22nd. Finally, Gordon Haskett lowered Redfin from a “hold” rating to an “underperform” rating and set a $5.50 target price on the stock. in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, Redfin has an average rating of “Hold” and a consensus target price of $7.92.

Insiders Place Their Bets

In other news, insider Anna Stevens sold 10,851 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total transaction of $73,569.78. Following the transaction, the insider now owns 15,477 shares of the company’s stock, valued at approximately $104,934.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Redfin news, insider Christian John Taubman sold 7,916 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $6.90, for a total transaction of $54,620.40. Following the completion of the transaction, the insider now owns 52,117 shares of the company’s stock, valued at approximately $359,607.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anna Stevens sold 10,851 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total transaction of $73,569.78. Following the sale, the insider now owns 15,477 shares of the company’s stock, valued at $104,934.06. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

Redfin Company Profile

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; and originates and sells mortgages.