Redfin Corp (NASDAQ:RDFN) – Research analysts at SunTrust Banks issued their Q2 2019 EPS estimates for Redfin in a note issued to investors on Tuesday, July 9th. SunTrust Banks analyst N. Khan forecasts that the company will post earnings of ($0.16) per share for the quarter. SunTrust Banks currently has a “Buy” rating and a $23.00 target price on the stock. SunTrust Banks also issued estimates for Redfin’s Q3 2019 earnings at $0.04 EPS, Q4 2019 earnings at ($0.16) EPS, FY2019 earnings at ($1.04) EPS, FY2020 earnings at ($1.07) EPS, FY2021 earnings at ($0.09) EPS, FY2022 earnings at ($0.55) EPS and FY2023 earnings at ($0.05) EPS.
Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.75) by $0.01. Redfin had a negative return on equity of 22.64% and a negative net margin of 14.06%. The business had revenue of $110.10 million during the quarter, compared to analysts’ expectations of $103.97 million. During the same period in the previous year, the business posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 37.8% compared to the same quarter last year.
RDFN has been the subject of several other reports. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Cowen set a $24.00 price objective on Redfin and gave the stock a “buy” rating in a report on Friday, June 21st. Zacks Investment Research cut Hess Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. Compass Point cut Redfin from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $22.00 in a research note on Thursday, May 9th. Finally, Piper Jaffray Companies lowered their price target on CELYAD SA/ADR from $51.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, April 1st. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $22.23.
Redfin stock opened at $17.88 on Friday. The firm has a 50-day simple moving average of $17.50. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.73 and a quick ratio of 4.36. Redfin has a 12-month low of $13.50 and a 12-month high of $26.01. The company has a market capitalization of $1.61 billion, a PE ratio of -36.49 and a beta of 1.36.
A number of large investors have recently added to or reduced their stakes in the business. Jackson Square Partners LLC boosted its position in Redfin by 6.9% during the 1st quarter. Jackson Square Partners LLC now owns 6,490,949 shares of the company’s stock worth $131,571,000 after acquiring an additional 417,458 shares during the last quarter. BlackRock Inc. boosted its position in Redfin by 5.3% during the 4th quarter. BlackRock Inc. now owns 5,214,205 shares of the company’s stock worth $75,084,000 after acquiring an additional 260,358 shares during the last quarter. Baillie Gifford & Co. boosted its position in Redfin by 1.4% during the 1st quarter. Baillie Gifford & Co. now owns 4,747,382 shares of the company’s stock worth $96,229,000 after acquiring an additional 63,333 shares during the last quarter. Macquarie Group Ltd. boosted its position in Redfin by 13.7% during the 4th quarter. Macquarie Group Ltd. now owns 1,146,064 shares of the company’s stock worth $16,503,000 after acquiring an additional 138,058 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Redfin by 57.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 995,000 shares of the company’s stock worth $17,890,000 after acquiring an additional 364,799 shares during the last quarter. 93.92% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Adam Wiener sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $22.05, for a total value of $220,500.00. Following the completion of the transaction, the insider now directly owns 135,849 shares in the company, valued at approximately $2,995,470.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Christopher John Nielsen sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $22.39, for a total value of $67,170.00. Following the completion of the transaction, the chief financial officer now owns 3,000 shares of the company’s stock, valued at $67,170. The disclosure for this sale can be found here. Insiders sold a total of 33,381 shares of company stock valued at $664,159 over the last quarter. 8.20% of the stock is owned by insiders.
Redfin Company Profile
Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.
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