Redfin (NASDAQ:RDFN) Releases Quarterly Earnings Results

Redfin (NASDAQ:RDFN) announced its earnings results on Tuesday. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.01, Briefing.com reports. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The company had revenue of $225.50 million for the quarter, compared to the consensus estimate of $217.79 million. During the same period last year, the business posted ($0.93) EPS. The company’s revenue was up 5.3% on a year-over-year basis.

Redfin Stock Up 9.3 %

Shares of NASDAQ RDFN traded up $0.58 on Thursday, hitting $6.83. The company had a trading volume of 2,361,523 shares, compared to its average volume of 5,165,950. Redfin has a 12-month low of $4.26 and a 12-month high of $17.68. The business has a 50 day moving average of $6.12 and a two-hundred day moving average of $7.15. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 295.91. The firm has a market capitalization of $815.98 million, a P/E ratio of -5.76 and a beta of 2.68.

Analyst Ratings Changes

RDFN has been the topic of several analyst reports. Wedbush reiterated a “neutral” rating and issued a $8.00 target price on shares of Redfin in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research note on Wednesday. Royal Bank of Canada decreased their price target on Redfin from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Stephens upgraded Redfin from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $8.00 to $9.00 in a research note on Wednesday. Finally, Gordon Haskett downgraded Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price target on the stock. in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.08.

Insider Transactions at Redfin

In related news, insider Anna Stevens sold 10,851 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the completion of the transaction, the insider now owns 15,477 shares of the company’s stock, valued at $104,934.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Redfin news, insider Christian John Taubman sold 7,916 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $6.90, for a total transaction of $54,620.40. Following the sale, the insider now owns 52,117 shares in the company, valued at $359,607.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anna Stevens sold 10,851 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total value of $73,569.78. Following the sale, the insider now owns 15,477 shares in the company, valued at approximately $104,934.06. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

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.