Analysts Anticipate Redfin Corp (RDFN) Will Post Earnings of $0.02 Per Share

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Brokerages expect Redfin Corp (NASDAQ:RDFN) to announce $0.02 earnings per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Redfin’s earnings. The highest EPS estimate is $0.03 and the lowest is $0.02. Redfin posted earnings per share of $0.12 in the same quarter last year, which would suggest a negative year-over-year growth rate of 83.3%. The company is expected to announce its next earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Redfin will report full-year earnings of ($0.41) per share for the current year, with EPS estimates ranging from ($0.46) to ($0.37). For the next year, analysts expect that the company will post earnings of ($0.32) per share, with EPS estimates ranging from ($0.47) to ($0.10). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Redfin.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Thursday, August 9th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Redfin had a negative return on equity of 10.83% and a negative net margin of 15.12%. The firm had revenue of $142.60 million during the quarter, compared to analyst estimates of $140.12 million. During the same quarter last year, the firm earned $0.06 EPS. Redfin’s quarterly revenue was up 35.9% on a year-over-year basis.

A number of brokerages have weighed in on RDFN. Zacks Investment Research upgraded Redfin from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Stifel Nicolaus decreased their target price on Redfin from $25.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, August 10th. William Blair reiterated an “outperform” rating on shares of Redfin in a research report on Friday, August 10th. DA Davidson lowered Redfin from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a research report on Friday, August 10th. Finally, BidaskClub lowered Redfin from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $24.55.

NASDAQ RDFN traded up $0.53 during mid-day trading on Thursday, reaching $19.30. 1,524,321 shares of the company’s stock traded hands, compared to its average volume of 1,321,737. Redfin has a 1-year low of $16.69 and a 1-year high of $31.50.

In related news, insider Adam Wiener sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 17th. The stock was sold at an average price of $23.20, for a total transaction of $232,000.00. Following the completion of the transaction, the insider now owns 239,749 shares in the company, valued at approximately $5,562,176.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bridget Frey sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $19.53, for a total value of $97,650.00. Following the transaction, the insider now owns 42,758 shares of the company’s stock, valued at approximately $835,063.74. The disclosure for this sale can be found here. Insiders have sold a total of 46,710 shares of company stock valued at $1,006,644 in the last 90 days. Insiders own 8.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Redfin by 272.5% during the 1st quarter. BlackRock Inc. now owns 2,844,483 shares of the company’s stock valued at $64,941,000 after acquiring an additional 2,080,872 shares in the last quarter. Allianz Asset Management GmbH raised its stake in Redfin by 258.3% during the 1st quarter. Allianz Asset Management GmbH now owns 2,159,884 shares of the company’s stock valued at $49,310,000 after acquiring an additional 1,557,144 shares in the last quarter. Baillie Gifford & Co. raised its stake in Redfin by 140.1% during the 1st quarter. Baillie Gifford & Co. now owns 2,398,259 shares of the company’s stock valued at $54,751,000 after acquiring an additional 1,399,599 shares in the last quarter. Janus Henderson Group PLC raised its stake in Redfin by 181.0% during the 2nd quarter. Janus Henderson Group PLC now owns 817,083 shares of the company’s stock valued at $18,866,000 after acquiring an additional 526,356 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Redfin by 360.6% during the 1st quarter. Northern Trust Corp now owns 504,935 shares of the company’s stock valued at $11,528,000 after acquiring an additional 395,314 shares in the last quarter. Institutional investors and hedge funds own 76.69% of the company’s stock.

About Redfin

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, such as assisting individuals to 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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Earnings History and Estimates for Redfin (NASDAQ:RDFN)

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