Redfin (RDFN) Set to Announce Quarterly Earnings on Thursday

Redfin (NASDAQ:RDFN) will be announcing its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.20) per share for the quarter. Redfin has set its Q3 2024 guidance at EPS.Investors interested in listening to the company’s conference call can do so using this link.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.03. The business had revenue of $295.20 million for the quarter, compared to the consensus estimate of $291.59 million. During the same quarter last year, the business posted ($0.25) EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts expect Redfin to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Redfin Trading Up 6.3 %

RDFN stock opened at $10.32 on Thursday. Redfin has a one year low of $4.26 and a one year high of $15.29. The firm has a market capitalization of $1.26 billion, a PE ratio of -8.67 and a beta of 2.68. The firm has a 50-day moving average of $11.14 and a two-hundred day moving average of $8.26.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total value of $33,596.00. Following the transaction, the insider now owns 71,720 shares in the company, valued at approximately $663,410. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on RDFN shares. Susquehanna reduced their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. DA Davidson reaffirmed a “neutral” rating and set a $7.25 price objective on shares of Redfin in a research note on Wednesday, July 3rd. Wedbush reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, B. Riley upped their price objective on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.20.

About Redfin

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; and originates and sells mortgages.