Zacks: Brokerages Expect Zillow Group, Inc. (ZG) Will Post Quarterly Sales of $277.11 Million

Wall Street brokerages forecast that Zillow Group, Inc. (NASDAQ:ZG) will report sales of $277.11 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Zillow Group’s earnings. The lowest sales estimate is $275.44 million and the highest is $278.40 million. Zillow Group reported sales of $227.61 million during the same quarter last year, which indicates a positive year over year growth rate of 21.7%. The business is scheduled to report its next earnings report on Tuesday, February 6th.

On average, analysts expect that Zillow Group will report full year sales of $277.11 million for the current year, with estimates ranging from $1.06 billion to $1.07 billion. For the next year, analysts forecast that the company will report sales of $1.29 billion per share, with estimates ranging from $1.26 billion to $1.31 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Zillow Group.

Zillow Group (NASDAQ:ZG) last announced its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $282.00 million during the quarter, compared to analysts’ expectations of $276.57 million. Zillow Group had a negative net margin of 3.99% and a negative return on equity of 0.25%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share.

ZG has been the subject of several analyst reports. Royal Bank of Canada boosted their price target on shares of Zillow Group from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Barclays boosted their price target on shares of Zillow Group from $44.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 8th. Morgan Stanley upgraded shares of Zillow Group from an “equal weight” rating to an “overweight” rating and set a $39.00 price target for the company in a report on Thursday, January 11th. Macquarie initiated coverage on shares of Zillow Group in a report on Monday, September 25th. They set a “neutral” rating for the company. Finally, Canaccord Genuity reiterated a “buy” rating and set a $52.00 price target on shares of Zillow Group in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Zillow Group presently has a consensus rating of “Hold” and an average target price of $47.21.

Several institutional investors have recently modified their holdings of ZG. Stifel Financial Corp acquired a new position in shares of Zillow Group in the 2nd quarter valued at $209,000. Advisors Asset Management Inc. boosted its holdings in shares of Zillow Group by 85.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,085 shares of the technology company’s stock valued at $244,000 after buying an additional 2,796 shares in the last quarter. Virtu KCG Holdings LLC acquired a new position in shares of Zillow Group in the 2nd quarter valued at $274,000. Cetera Advisors LLC acquired a new position in shares of Zillow Group in the 3rd quarter valued at $284,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Zillow Group by 72.5% in the 3rd quarter. Principal Financial Group Inc. now owns 9,502 shares of the technology company’s stock valued at $382,000 after buying an additional 3,995 shares in the last quarter. Institutional investors and hedge funds own 25.39% of the company’s stock.

Shares of Zillow Group (ZG) traded down $0.17 during mid-day trading on Wednesday, hitting $44.20. 300,800 shares of the company were exchanged, compared to its average volume of 290,980. The company has a quick ratio of 6.44, a current ratio of 6.44 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2,490.00, a PE ratio of 86.67 and a beta of 1.46. Zillow Group has a 52-week low of $32.63 and a 52-week high of $50.91.

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Zillow Group Company Profile

Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable people find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.

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