Analysts Anticipate Redfin (RDFN) Will Post Quarterly Sales of $77.19 Million

Brokerages expect Redfin (NASDAQ:RDFN) to announce $77.19 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Redfin’s earnings. The highest sales estimate is $78.10 million and the lowest is $76.67 million. The business is expected to announce its next quarterly earnings results on Thursday, May 24th.

According to Zacks, analysts expect that Redfin will report full year sales of $77.19 million for the current fiscal year, with estimates ranging from $455.56 million to $475.00 million. For the next fiscal year, analysts forecast that the business will report sales of $593.45 million per share, with estimates ranging from $563.12 million to $610.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Redfin.

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Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.03. The company had revenue of $95.80 million during the quarter, compared to analyst estimates of $91.59 million. The firm’s quarterly revenue was up 43.4% compared to the same quarter last year.



RDFN has been the topic of several recent analyst reports. Jefferies Group initiated coverage on Redfin in a research note on Tuesday, February 6th. They issued a “buy” rating and a $28.00 price target on the stock. BidaskClub raised Redfin from a “hold” rating to a “buy” rating in a research note on Saturday, December 30th. Piper Jaffray boosted their price target on Redfin from $24.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada raised Redfin from a “sector perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a research note on Friday, February 2nd. They noted that the move was a valuation call. Finally, William Blair reissued an “outperform” rating on shares of Redfin in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $25.73.

RDFN traded down $0.07 during trading on Monday, hitting $22.76. The company’s stock had a trading volume of 857,011 shares, compared to its average volume of 1,469,831. Redfin has a twelve month low of $19.18 and a twelve month high of $33.49. The firm has a market cap of $1,866.99 and a PE ratio of -113.80.

In other news, CFO Christopher John Nielsen sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $20.51, for a total transaction of $512,750.00. Following the completion of the sale, the chief financial officer now owns 25,000 shares in the company, valued at $512,750. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Adam Wiener sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $20.82, for a total value of $208,200.00. Following the sale, the insider now owns 299,649 shares of the company’s stock, valued at approximately $6,238,692.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,000 shares of company stock valued at $1,388,550.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. bought a new stake in shares of Redfin during the third quarter valued at approximately $959,000. California State Teachers Retirement System bought a new stake in shares of Redfin during the third quarter valued at approximately $437,000. Dragoneer Investment Group LLC bought a new stake in shares of Redfin during the third quarter valued at approximately $24,242,000. Bank of New York Mellon Corp bought a new stake in shares of Redfin during the third quarter valued at approximately $832,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Redfin during the third quarter valued at approximately $6,959,000. Hedge funds and other institutional investors own 52.44% of the company’s stock.

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About Redfin

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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