$0.05 EPS Expected for Redfin Corp (NASDAQ:RDFN) This Quarter

Analysts expect that Redfin Corp (NASDAQ:RDFN) will announce earnings per share (EPS) of $0.05 for the current quarter, Zacks reports. Eight analysts have provided estimates for Redfin’s earnings, with the highest EPS estimate coming in at $0.13 and the lowest estimate coming in at ($0.03). Redfin reported earnings per share of $0.04 in the same quarter last year, which would indicate a positive year over year growth rate of 25%. The company is expected to announce its next quarterly earnings report on Thursday, November 14th.

On average, analysts expect that Redfin will report full-year earnings of ($0.93) per share for the current financial year, with EPS estimates ranging from ($1.11) to ($0.62). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.81) per share, with EPS estimates ranging from ($1.01) to ($0.38). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Redfin.

Redfin (NASDAQ:RDFN) last issued its earnings results on Thursday, August 1st. The company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.01. Redfin had a negative net margin of 15.47% and a negative return on equity of 25.83%. The business had revenue of $197.80 million for the quarter, compared to the consensus estimate of $190.35 million. During the same period in the prior year, the firm earned $0.04 EPS. The company’s revenue for the quarter was up 38.7% compared to the same quarter last year.

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Redfin from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. ValuEngine raised shares of Redfin from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Susquehanna Bancshares raised shares of Redfin from a “neutral” rating to a “positive” rating and set a $23.00 target price for the company in a research report on Wednesday, July 17th. Stephens raised shares of Redfin from an “underweight” rating to an “overweight” rating and increased their target price for the company from $18.00 to $23.00 in a research report on Monday, June 10th. Finally, Compass Point raised shares of Redfin from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Redfin currently has an average rating of “Hold” and a consensus target price of $22.93.

Shares of RDFN traded down $0.21 during mid-day trading on Wednesday, hitting $16.24. The company’s stock had a trading volume of 741,666 shares, compared to its average volume of 923,389. The company’s 50-day moving average is $17.70 and its 200-day moving average is $18.79. Redfin has a 52-week low of $13.50 and a 52-week high of $23.47. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -33.14 and a beta of 1.38. The company has a current ratio of 3.91, a quick ratio of 3.19 and a debt-to-equity ratio of 0.54.

In other Redfin news, insider Adam Wiener sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the transaction, the insider now owns 245,503 shares in the company, valued at approximately $4,910,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert J. Mylod, Jr. sold 112,282 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $17.50, for a total transaction of $1,964,935.00. Following the transaction, the director now owns 4,516 shares in the company, valued at approximately $79,030. The disclosure for this sale can be found here. Insiders have sold 150,282 shares of company stock valued at $2,675,385 in the last three months. 8.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Redfin by 7.2% during the 2nd quarter. Vanguard Group Inc. now owns 10,440,413 shares of the company’s stock valued at $187,718,000 after purchasing an additional 704,587 shares in the last quarter. Jackson Square Partners LLC increased its stake in shares of Redfin by 6.9% in the first quarter. Jackson Square Partners LLC now owns 6,490,949 shares of the company’s stock worth $131,571,000 after acquiring an additional 417,458 shares during the period. Baillie Gifford & Co. increased its stake in shares of Redfin by 21.7% in the second quarter. Baillie Gifford & Co. now owns 5,779,516 shares of the company’s stock worth $103,915,000 after acquiring an additional 1,032,134 shares during the period. BlackRock Inc. increased its stake in shares of Redfin by 9.9% in the second quarter. BlackRock Inc. now owns 5,618,562 shares of the company’s stock worth $101,023,000 after acquiring an additional 504,808 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Redfin by 2.4% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,267,650 shares of the company’s stock worth $22,792,000 after acquiring an additional 30,000 shares during the period. Institutional investors and hedge funds own 88.63% 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, 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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