Redfin Corp (NASDAQ:RDFN) Expected to Announce Earnings of -$0.12 Per Share

Wall Street brokerages expect Redfin Corp (NASDAQ:RDFN) to post ($0.12) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Redfin’s earnings, with estimates ranging from ($0.13) to ($0.11). Redfin reported earnings per share of ($0.14) in the same quarter last year, which suggests a positive year over year growth rate of 14.3%. The business is expected to report its next earnings report on Thursday, February 13th.

On average, analysts expect that Redfin will report full year earnings of ($0.90) per share for the current fiscal year, with EPS estimates ranging from ($0.94) to ($0.72). For the next year, analysts expect that the firm will post earnings of ($0.75) per share, with EPS estimates ranging from ($0.94) to ($0.39). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Redfin.

Redfin (NASDAQ:RDFN) last released its earnings results on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. Redfin had a negative return on equity of 25.71% and a negative net margin of 12.71%. The business had revenue of $238.68 million during the quarter, compared to analysts’ expectations of $229.94 million. During the same quarter last year, the firm posted $0.14 earnings per share. The firm’s revenue was up 70.2% on a year-over-year basis.

RDFN has been the subject of several recent analyst reports. BidaskClub raised Redfin from a “buy” rating to a “strong-buy” rating in a research note on Friday. Piper Jaffray Companies raised their target price on Redfin from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. SunTrust Banks reaffirmed a “buy” rating and set a $24.00 target price on shares of Redfin in a research note on Monday, November 4th. ValuEngine cut Redfin from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Zacks Investment Research raised Redfin from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $23.71.

NASDAQ RDFN traded up $0.05 during trading hours on Friday, hitting $25.00. 968,028 shares of the company’s stock were exchanged, compared to its average volume of 1,022,289. The stock has a 50-day simple moving average of $21.84 and a 200 day simple moving average of $18.88. Redfin has a 1-year low of $14.70 and a 1-year high of $25.50. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -26.32 and a beta of 1.45. The company has a current ratio of 4.81, a quick ratio of 3.68 and a debt-to-equity ratio of 0.52.

In other Redfin news, CFO Christopher John Nielsen sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $20.20, for a total value of $60,600.00. Also, insider Adam Wiener sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $23.20, for a total value of $580,000.00. Following the completion of the sale, the insider now directly owns 197,842 shares of the company’s stock, valued at approximately $4,589,934.40. The disclosure for this sale can be found here. Insiders sold 158,000 shares of company stock valued at $3,307,730 in the last three months. Insiders own 8.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. S&CO Inc. acquired a new stake in Redfin in the fourth quarter valued at approximately $318,000. Metropolitan Life Insurance Co NY boosted its position in shares of Redfin by 18.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 28,823 shares of the company’s stock valued at $485,000 after buying an additional 4,398 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC boosted its position in shares of Redfin by 95.6% during the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 1,005,249 shares of the company’s stock valued at $16,928,000 after buying an additional 491,242 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Redfin by 824.3% during the third quarter. Point72 Asset Management L.P. now owns 1,191,900 shares of the company’s stock valued at $20,072,000 after buying an additional 1,062,947 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Redfin by 1.2% during the third quarter. California State Teachers Retirement System now owns 137,579 shares of the company’s stock valued at $2,317,000 after buying an additional 1,643 shares during the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.

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, 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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