$230.14 Million in Sales Expected for Redfin Corp (NASDAQ:RDFN) This Quarter
Brokerages forecast that Redfin Corp (NASDAQ:RDFN) will announce sales of $230.14 million for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Redfin’s earnings. The highest sales estimate is $235.10 million and the lowest is $228.23 million. Redfin posted sales of $140.26 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 64.1%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 14th.
According to Zacks, analysts expect that Redfin will report full-year sales of $724.37 million for the current financial year, with estimates ranging from $638.07 million to $751.05 million. For the next year, analysts expect that the firm will report sales of $946.66 million, with estimates ranging from $778.80 million to $1.05 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Redfin.
Redfin (NASDAQ:RDFN) last announced its earnings results on Thursday, August 1st. The company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.01. The firm had revenue of $197.80 million during the quarter, compared to analysts’ expectations of $190.35 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 38.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS.
Shares of Redfin stock traded up $0.41 on Thursday, reaching $17.45. The company had a trading volume of 819,649 shares, compared to its average volume of 1,079,235. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -35.61 and a beta of 1.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.91 and a quick ratio of 3.19. The firm’s 50-day moving average price is $17.92 and its two-hundred day moving average price is $18.86. Redfin has a 1 year low of $13.50 and a 1 year high of $23.47.
In other Redfin news, CFO Christopher John Nielsen sold 3,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $17.35, for a total value of $52,050.00. Following the completion of the sale, the chief financial officer now directly owns 8,542 shares in the company, valued at approximately $148,203.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Adam Wiener sold 5,000 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $18.03, for a total value of $90,150.00. Following the completion of the sale, the insider now owns 255,503 shares of the company’s stock, valued at $4,606,719.09. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock valued at $710,450 over the last quarter. Company insiders own 8.20% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Penserra Capital Management LLC bought a new position in shares of Redfin in the 1st quarter worth $25,000. FNY Investment Advisers LLC bought a new position in shares of Redfin in the 1st quarter worth $36,000. NumerixS Investment Technologies Inc bought a new position in shares of Redfin in the 2nd quarter worth $49,000. Edge Wealth Management LLC raised its position in shares of Redfin by 90.9% in the 2nd quarter. Edge Wealth Management LLC now owns 4,200 shares of the company’s stock worth $76,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Aperio Group LLC bought a new position in shares of Redfin in the 2nd quarter worth $96,000. Institutional investors and hedge funds own 93.14% 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, 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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