Zacks: Analysts Expect Redfin Co. (NASDAQ:RDFN) to Post -$0.15 Earnings Per Share

Analysts predict that Redfin Co. (NASDAQ:RDFN) will post ($0.15) earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have made estimates for Redfin’s earnings, with the lowest EPS estimate coming in at ($0.23) and the highest estimate coming in at $0.18. Redfin posted earnings per share of $0.30 in the same quarter last year, which would indicate a negative year over year growth rate of 150%. The company is scheduled to issue its next quarterly earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Redfin will report full-year earnings of ($0.89) per share for the current financial year, with EPS estimates ranging from ($1.31) to ($0.42). For the next fiscal year, analysts forecast that the business will report earnings of ($0.67) per share, with EPS estimates ranging from ($1.25) to $0.47. Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover Redfin.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, August 5th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.04. The business had revenue of $471.32 million for the quarter, compared to the consensus estimate of $454.91 million. Redfin had a negative return on equity of 3.73% and a negative net margin of 1.27%.

RDFN has been the topic of several recent research reports. Berenberg Bank began coverage on shares of Redfin in a report on Wednesday, July 21st. They set a “hold” rating and a $64.00 price objective on the stock. Wedbush lowered their target price on shares of Redfin from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, August 11th. Susquehanna started coverage on Redfin in a research report on Friday, August 13th. They set a “neutral” rating and a $60.00 target price on the stock. Susquehanna Bancshares assumed coverage on Redfin in a research report on Friday, August 13th. They issued a “neutral” rating and a $60.00 price target for the company. Finally, DA Davidson decreased their price target on Redfin from $63.00 to $62.00 and set a “neutral” rating on the stock in a research report on Monday, August 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $66.80.

Shares of RDFN stock traded up $2.16 on Wednesday, hitting $50.95. 1,016,362 shares of the stock were exchanged, compared to its average volume of 1,454,656. The firm’s 50 day moving average is $50.66 and its two-hundred day moving average is $57.25. Redfin has a one year low of $37.31 and a one year high of $98.44. The firm has a market capitalization of $5.35 billion, a PE ratio of -203.80 and a beta of 1.84. The company has a current ratio of 3.47, a quick ratio of 2.76 and a debt-to-equity ratio of 3.72.

In other Redfin news, CFO Christopher John Nielsen sold 4,500 shares of the business’s stock in a transaction on Tuesday, October 5th. The shares were sold at an average price of $47.60, for a total value of $214,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Adam Wiener sold 6,500 shares of the firm’s stock in a transaction dated Thursday, July 15th. The shares were sold at an average price of $54.40, for a total value of $353,600.00. The disclosure for this sale can be found here. Insiders sold a total of 119,833 shares of company stock worth $6,392,299 in the last three months. Insiders own 6.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Bares Capital Management Inc. bought a new stake in Redfin in the first quarter valued at approximately $341,621,000. Allianz Asset Management GmbH grew its holdings in Redfin by 298.5% in the 1st quarter. Allianz Asset Management GmbH now owns 2,421,892 shares of the company’s stock worth $161,274,000 after acquiring an additional 1,814,066 shares during the last quarter. Durable Capital Partners LP increased its position in shares of Redfin by 6.7% in the second quarter. Durable Capital Partners LP now owns 9,163,912 shares of the company’s stock valued at $581,084,000 after acquiring an additional 576,272 shares during the period. Jefferies Group LLC raised its stake in shares of Redfin by 4,020.7% during the second quarter. Jefferies Group LLC now owns 576,900 shares of the company’s stock valued at $36,581,000 after acquiring an additional 562,900 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Redfin by 66.7% during the second quarter. Bank of New York Mellon Corp now owns 1,357,097 shares of the company’s stock worth $86,055,000 after purchasing an additional 542,997 shares during the period. 87.08% of the stock is currently owned by institutional investors and hedge funds.

Redfin Company Profile

Redfin Corp. provides real estate brokerage services. The firm engages in buying and selling homes. It operates through the following segments: Real Estate Services and Properties. The Real Estate Services segment consists of revenue transactions. The Properties segment consists of home purchase costs, capitalized improvements, selling expenses and home maintenance expenses.

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Earnings History and Estimates for Redfin (NASDAQ:RDFN)

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