Brokerages Expect Zillow Group, Inc. (ZG) Will Post Quarterly Sales of $261.79 Million
Wall Street brokerages predict that Zillow Group, Inc. (NASDAQ:ZG) will announce $261.79 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Zillow Group’s earnings, with the lowest sales estimate coming in at $258.80 million and the highest estimate coming in at $264.17 million. Zillow Group posted sales of $208.40 million during the same quarter last year, which suggests a positive year over year growth rate of 25.6%. The business is expected to announce its next earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Zillow Group will report full-year sales of $261.79 million for the current fiscal year, with estimates ranging from $1.04 billion to $1.10 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.27 billion per share, with estimates ranging from $1.25 billion to $1.29 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Zillow Group.
Zillow Group (NASDAQ:ZG) last announced its earnings results on Thursday, May 4th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.08. The business had revenue of $245.80 million for the quarter, compared to analysts’ expectations of $236.04 million. Zillow Group had a negative return on equity of 5.65% and a negative net margin of 19.58%. The business’s revenue was up 32.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.13) earnings per share.
ZG has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $48.00 price objective (up from $41.00) on shares of Zillow Group in a research note on Friday, May 5th. Benchmark Co. upped their price objective on Zillow Group from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Zacks Investment Research upgraded Zillow Group from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Wednesday, May 10th. Cowen and Company upped their price objective on Zillow Group from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, May 5th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating on shares of Zillow Group in a research note on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Zillow Group currently has a consensus rating of “Hold” and a consensus target price of $39.80.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZG. Selkirk Management LLC raised its stake in shares of Zillow Group by 23.2% in the first quarter. Selkirk Management LLC now owns 130,000 shares of the technology company’s stock valued at $4,395,000 after buying an additional 24,500 shares during the period. Lucha Capital Management LP raised its stake in shares of Zillow Group by 49.7% in the first quarter. Lucha Capital Management LP now owns 251,014 shares of the technology company’s stock valued at $8,487,000 after buying an additional 83,289 shares during the period. Credit Suisse AG raised its stake in shares of Zillow Group by 5.3% in the first quarter. Credit Suisse AG now owns 31,807 shares of the technology company’s stock valued at $1,075,000 after buying an additional 1,590 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of Zillow Group during the first quarter valued at $858,000. Finally, Caledonia Private Investments Pty Ltd raised its stake in shares of Zillow Group by 1.7% in the first quarter. Caledonia Private Investments Pty Ltd now owns 13,360,188 shares of the technology company’s stock valued at $451,708,000 after buying an additional 225,096 shares during the period. 26.78% of the stock is owned by institutional investors.
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Shares of Zillow Group (NASDAQ ZG) traded up 0.31% during trading on Friday, hitting $45.58. 394,174 shares of the stock were exchanged. Zillow Group has a one year low of $31.17 and a one year high of $46.17. The stock’s 50 day moving average price is $43.30 and its 200 day moving average price is $37.73. The stock’s market cap is $8.35 billion.
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