Redfin Corp Forecasted to Earn FY2021 Earnings of ($0.59) Per Share (NASDAQ:RDFN)

Redfin Corp (NASDAQ:RDFN) – Stock analysts at Wedbush issued their FY2021 earnings per share estimates for Redfin in a note issued to investors on Monday, July 29th. Wedbush analyst Y. Arounian expects that the company will earn ($0.59) per share for the year. Wedbush has a “Buy” rating and a $30.00 price objective on the stock.

RDFN has been the topic of a number of other research reports. Susquehanna Bancshares raised Redfin from a “neutral” rating to a “positive” rating and set a $23.00 price objective on the stock in a research note on Wednesday, July 17th. SunTrust Banks assumed coverage on Zillow Group in a research note on Tuesday, July 9th. They issued a “buy” rating and a $49.39 target price on the stock. TheStreet upgraded Third Point Reinsurance from a “d+” rating to a “c-” rating in a research note on Tuesday, May 14th. BidaskClub upgraded Acceleron Pharma from a “strong sell” rating to a “sell” rating in a research note on Friday, May 10th. Finally, Cowen set a $24.00 target price on Redfin and gave the company a “buy” rating in a research note on Friday, June 21st. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $22.07.

Shares of RDFN stock opened at $18.01 on Wednesday. Redfin has a 1 year low of $13.50 and a 1 year high of $24.79. The company has a quick ratio of 4.36, a current ratio of 4.73 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $17.81. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -36.76 and a beta of 1.36.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping 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 company had revenue of $110.10 million during the quarter, compared to analyst estimates of $103.97 million. During the same quarter in the previous year, the firm posted ($0.44) EPS. The firm’s quarterly revenue was up 37.8% on a year-over-year basis.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC bought a new stake in Redfin in the 1st quarter worth $25,000. Legal & General Group Plc boosted its position in Redfin by 4.4% during the 4th quarter. Legal & General Group Plc now owns 31,859 shares of the company’s stock valued at $459,000 after purchasing an additional 1,333 shares during the period. Keybank National Association OH boosted its position in Redfin by 6.4% during the 1st quarter. Keybank National Association OH now owns 27,492 shares of the company’s stock valued at $557,000 after purchasing an additional 1,660 shares during the period. FNY Investment Advisers LLC acquired a new position in Redfin during the 1st quarter worth $36,000. Finally, Edge Wealth Management LLC boosted its position in Redfin by 90.9% during the 2nd quarter. Edge Wealth Management LLC now owns 4,200 shares of the company’s stock worth $76,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

In related news, CFO Christopher John Nielsen sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $17.32, for a total value of $51,960.00. Following the sale, the chief financial officer now owns 3,000 shares of the company’s stock, valued at $51,960. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Bridget Frey sold 6,381 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $19.76, for a total transaction of $126,088.56. Following the completion of the sale, the insider now directly owns 44,313 shares in the company, valued at approximately $875,624.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,381 shares of company stock valued at $517,189. 8.20% of the stock is owned by company 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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Earnings History and Estimates for Redfin (NASDAQ:RDFN)

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