Redfin Corp (NASDAQ:RDFN) Expected to Post Q1 2021 Earnings of ($0.66) Per Share

Redfin Corp (NASDAQ:RDFN) – Piper Jaffray Companies issued their Q1 2021 EPS estimates for shares of Redfin in a research note issued on Wednesday, November 6th. Piper Jaffray Companies analyst J. Deleeuw forecasts that the company will post earnings of ($0.66) per share for the quarter. Piper Jaffray Companies has a “Overweight” rating and a $28.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Redfin’s Q2 2021 earnings at $0.05 EPS and Q3 2021 earnings at $0.16 EPS.

Other research analysts also recently issued research reports about the company. SunTrust Banks reiterated a “buy” rating and issued a $24.00 price objective on shares of Redfin in a report on Monday. Bank of America lifted their price objective on Redfin from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Stephens set a $24.00 price objective on Redfin and gave the stock a “buy” rating in a report on Monday, September 9th. Craig Hallum upgraded Redfin from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Wednesday, August 21st. Finally, Wedbush set a $30.00 price objective on Redfin and gave the stock a “buy” rating in a report on Friday, July 12th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Redfin has a consensus rating of “Buy” and an average target price of $23.18.

Shares of RDFN traded up $2.24 during trading hours on Friday, hitting $20.19. The company had a trading volume of 3,360,900 shares, compared to its average volume of 1,039,061. The firm has a market cap of $1.73 billion, a P/E ratio of -41.20 and a beta of 1.38. The stock’s 50 day moving average price is $17.22 and its 200 day moving average price is $17.75. The company has a quick ratio of 3.19, a current ratio of 3.91 and a debt-to-equity ratio of 0.54. Redfin has a 52-week low of $13.50 and a 52-week high of $23.47.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The firm had revenue of $238.68 million for the quarter, compared to the consensus estimate of $229.94 million. Redfin had a negative return on equity of 25.83% and a negative net margin of 15.47%. The company’s quarterly revenue was up 70.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 earnings per share.

In related news, CTO Bridget Frey sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $18.26, for a total value of $91,300.00. Following the transaction, the chief technology officer now directly owns 69,796 shares of the company’s stock, valued at approximately $1,274,474.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert J. Mylod, Jr. sold 6,968 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $17.54, for a total value of $122,218.72. Following the completion of the transaction, the director now directly owns 4,516 shares in the company, valued at $79,210.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 150,250 shares of company stock worth $2,636,734. 8.20% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new stake in Redfin during the 3rd quarter valued at $25,000. Nisa Investment Advisors LLC purchased a new stake in Redfin during the 3rd quarter valued at $25,000. NumerixS Investment Technologies Inc purchased a new stake in Redfin during the 2nd quarter valued at $49,000. Usca Ria LLC purchased a new stake in Redfin during the 3rd quarter valued at $51,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Redfin by 28.8% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 3,646 shares of the company’s stock worth $61,000 after buying an additional 815 shares during the period. 88.98% of the stock is currently owned by institutional investors and hedge funds.

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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