Zacks: Brokerages Expect Redfin Corp (RDFN) to Post -$0.18 EPS

Wall Street analysts predict that Redfin Corp (NASDAQ:RDFN) will post earnings per share of ($0.18) for the current quarter, Zacks reports. Six analysts have provided estimates for Redfin’s earnings, with the lowest EPS estimate coming in at ($0.20) and the highest estimate coming in at ($0.13). Redfin reported earnings per share of ($0.02) during the same quarter last year, which suggests a negative year-over-year growth rate of 800%. The firm is expected to report its next earnings report after the market closes on Thursday, February 14th.

According to Zacks, analysts expect that Redfin will report full year earnings of ($0.54) per share for the current fiscal year, with EPS estimates ranging from ($0.55) to ($0.51). For the next financial year, analysts forecast that the business will report earnings of ($0.81) per share, with EPS estimates ranging from ($0.98) to ($0.66). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Redfin.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Thursday, November 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $140.30 million for the quarter, compared to the consensus estimate of $139.45 million. Redfin had a negative return on equity of 12.10% and a negative net margin of 6.88%. The company’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 earnings per share.



RDFN has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Redfin from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. BidaskClub raised Redfin from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Cowen set a $23.00 price target on Redfin and gave the company a “buy” rating in a report on Friday, October 19th. William Blair downgraded Redfin from an “outperform” rating to a “market perform” rating in a report on Friday, November 9th. Finally, Zelman & Associates cut Redfin from a “buy” rating to a “hold” rating in a research report on Friday, November 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $19.50.

Shares of NASDAQ:RDFN traded down $0.02 during midday trading on Monday, reaching $18.12. 628,700 shares of the company’s stock traded hands, compared to its average volume of 730,664. The company has a market cap of $1.62 billion, a P/E ratio of -90.60 and a beta of 0.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.57 and a quick ratio of 8.15. Redfin has a one year low of $13.50 and a one year high of $26.01.

In other Redfin news, Director Selina Tobaccowala sold 1,710 shares of the company’s stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $18.00, for a total value of $30,780.00. Following the completion of the sale, the director now owns 17,302 shares in the company, valued at $311,436. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Bridget Frey sold 15,000 shares of the company’s stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $18.00, for a total value of $270,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,785 shares of company stock valued at $956,276. 8.80% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of RDFN. Public Employees Retirement Association of Colorado purchased a new stake in Redfin in the third quarter worth about $139,000. United Services Automobile Association purchased a new stake in Redfin in the third quarter worth about $195,000. D.A. Davidson & CO. purchased a new stake in Redfin in the third quarter worth about $200,000. SG Americas Securities LLC purchased a new stake in Redfin in the third quarter worth about $284,000. Finally, Parkwood LLC increased its position in Redfin by 18.4% in the fourth quarter. Parkwood LLC now owns 20,333 shares of the company’s stock worth $293,000 after buying an additional 3,153 shares in the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.

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, 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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