Zillow Group (ZG) Expected to Announce Earnings on Wednesday

Zillow Group (NASDAQ:ZG) is anticipated to announce its results after the market closes on Wednesday, August 5th. Analysts expect the company to post earnings of $0.44 per share and revenue of $757.9170 million for the quarter.

Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Wednesday, May 6th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. Zillow Group had a net margin of 2.27% and a return on equity of 1.41%. The business had revenue of $708.00 million for the quarter, compared to the consensus estimate of $705.17 million. During the same period last year, the firm posted $0.41 earnings per share. The company’s revenue was up 18.4% compared to the same quarter last year. On average, analysts expect Zillow Group to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Zillow Group Stock Up 5.7%

ZG opened at $33.81 on Wednesday. Zillow Group has a twelve month low of $29.03 and a twelve month high of $90.22. The company has a 50-day moving average price of $33.39 and a 200 day moving average price of $43.18. The company has a market cap of $7.74 billion, a PE ratio of 135.24, a price-to-earnings-growth ratio of 1.37 and a beta of 1.95.

Wall Street Analyst Weigh In

ZG has been the topic of a number of research reports. Royal Bank Of Canada decreased their target price on shares of Zillow Group to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 10th. Barclays lowered their price target on Zillow Group from $58.00 to $54.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. KeyCorp dropped their target price on Zillow Group from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Citigroup reiterated a “market outperform” rating on shares of Zillow Group in a report on Tuesday, May 26th. Finally, BTIG Research reissued a “neutral” rating on shares of Zillow Group in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.48.

Insider Activity

In related news, insider Dan Spaulding sold 3,078 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $37.40, for a total value of $115,117.20. Following the completion of the transaction, the insider directly owned 49,696 shares of the company’s stock, valued at $1,858,630.40. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Bradley D. Owens sold 3,364 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $37.23, for a total transaction of $125,241.72. Following the completion of the transaction, the general counsel owned 65,245 shares in the company, valued at $2,429,071.35. This represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 42,910 shares of company stock valued at $1,605,732 over the last 90 days. Insiders own 29.88% of the company’s stock.

Hedge Funds Weigh In On Zillow Group

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in shares of Zillow Group by 40.5% in the 1st quarter. AQR Capital Management LLC now owns 12,890 shares of the technology company’s stock valued at $862,000 after purchasing an additional 3,717 shares during the last quarter. Millennium Management LLC grew its stake in Zillow Group by 110.8% during the 1st quarter. Millennium Management LLC now owns 290,999 shares of the technology company’s stock worth $19,456,000 after buying an additional 152,955 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Zillow Group by 7.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,912 shares of the technology company’s stock worth $5,878,000 after buying an additional 5,737 shares during the last quarter. JPMorgan Chase & Co. increased its position in Zillow Group by 5.8% during the second quarter. JPMorgan Chase & Co. now owns 21,093 shares of the technology company’s stock worth $1,445,000 after buying an additional 1,150 shares during the period. Finally, Prudential Financial Inc. increased its position in Zillow Group by 16.3% during the second quarter. Prudential Financial Inc. now owns 7,933 shares of the technology company’s stock worth $543,000 after buying an additional 1,110 shares during the period. Institutional investors and hedge funds own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group (NASDAQ:ZG) is a U.S.-based online real estate marketplace that connects consumers, real estate professionals and mortgage lenders through a suite of digital products and advertising services. Founded in 2006 by Rich Barton and Lloyd Frink and headquartered in Seattle, Washington, the company operates a portfolio of consumer-facing brands and tools designed to simplify home search, rental discovery, valuation and mortgage shopping.

Zillow’s core products include its consumer websites and mobile apps that list homes for sale and rent, the Zestimate automated home value estimate, and marketplaces that connect buyers and renters with agents and lenders.