Redfin (RDFN) Expected to Post Earnings of -$0.43 Per Share

Wall Street analysts forecast that Redfin (NASDAQ:RDFN) will post earnings of ($0.43) per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Redfin’s earnings, with the highest EPS estimate coming in at ($0.38) and the lowest estimate coming in at ($0.45). The firm is scheduled to announce its next quarterly earnings results on Thursday, May 24th.

On average, analysts expect that Redfin will report full-year earnings of ($0.20) per share for the current financial year, with EPS estimates ranging from ($0.25) to $0.00. For the next financial year, analysts expect that the firm will report earnings of $0.01 per share, with EPS estimates ranging from ($0.07) to $0.22. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Redfin.

Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, February 22nd. The company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The company had revenue of $95.80 million for the quarter, compared to the consensus estimate of $91.59 million. Redfin’s quarterly revenue was up 43.4% on a year-over-year basis.



RDFN has been the topic of several analyst reports. Piper Jaffray boosted their target price on Redfin from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. BidaskClub downgraded Redfin from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 3rd. KeyCorp started coverage on Redfin in a research report on Tuesday, December 19th. They issued a “sector weight” rating on the stock. DA Davidson started coverage on Redfin in a research report on Wednesday, April 4th. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, Cowen started coverage on Redfin in a research report on Friday, December 15th. They issued an “outperform” rating and a $30.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $25.92.

In other Redfin news, CTO Bridget Frey sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.66, for a total value of $103,300.00. Following the completion of the sale, the chief technology officer now directly owns 42,083 shares in the company, valued at approximately $869,434.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher John Nielsen sold 25,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $20.51, for a total value of $512,750.00. Following the completion of the sale, the chief financial officer now owns 25,000 shares of the company’s stock, valued at $512,750. The disclosure for this sale can be found here. Insiders sold a total of 65,000 shares of company stock worth $1,388,550 in the last ninety days.

Several hedge funds have recently modified their holdings of RDFN. SG Americas Securities LLC purchased a new stake in shares of Redfin in the 3rd quarter worth $139,000. MetLife Investment Advisors LLC purchased a new stake in shares of Redfin in the 4th quarter worth $155,000. Wells Fargo & Company MN purchased a new stake in shares of Redfin in the 3rd quarter worth $158,000. American International Group Inc. purchased a new stake in shares of Redfin in the 3rd quarter worth $181,000. Finally, Needham Investment Management LLC purchased a new stake in shares of Redfin in the 4th quarter worth $224,000. Institutional investors and hedge funds own 52.44% of the company’s stock.

NASDAQ RDFN opened at $22.72 on Tuesday. The company has a market cap of $1,854.73 and a PE ratio of -113.60. Redfin has a fifty-two week low of $19.18 and a fifty-two week high of $33.49.

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Redfin Company Profile

Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool.

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Earnings History and Estimates for Redfin (NASDAQ:RDFN)

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