Wall Street analysts expect that Redfin Corp (NASDAQ:RDFN) will announce earnings per share (EPS) of $0.02 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Redfin’s earnings, with the lowest EPS estimate coming in at $0.02 and the highest estimate coming in at $0.03. Redfin posted earnings per share of $0.12 during the same quarter last year, which would indicate a negative year-over-year growth rate of 83.3%. The business is scheduled to report its next quarterly earnings report on Thursday, November 8th.

On average, analysts expect that Redfin will report full-year earnings of ($0.41) per share for the current year, with EPS estimates ranging from ($0.46) to ($0.37). For the next financial year, analysts forecast that the company will post earnings of ($0.32) per share, with EPS estimates ranging from ($0.47) to ($0.10). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Redfin.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Redfin had a negative return on equity of 10.83% and a negative net margin of 15.12%. The business had revenue of $142.60 million for the quarter, compared to the consensus estimate of $140.12 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. Redfin’s revenue for the quarter was up 35.9% compared to the same quarter last year.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Redfin from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. DA Davidson cut Redfin from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research report on Friday, August 10th. Goldman Sachs Group cut Redfin from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a research report on Monday, June 18th. BidaskClub raised Redfin from a “hold” rating to a “buy” rating in a research report on Thursday, June 28th. Finally, Stifel Nicolaus reduced their price objective on Redfin from $25.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.55.

In other Redfin news, insider Bridget Frey sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $25.03, for a total value of $125,150.00. Following the completion of the sale, the insider now owns 14,583 shares of the company’s stock, valued at $365,012.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Adam Wiener sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 17th. The stock was sold at an average price of $23.20, for a total value of $232,000.00. Following the completion of the sale, the insider now directly owns 239,749 shares of the company’s stock, valued at approximately $5,562,176.80. The disclosure for this sale can be found here. Insiders sold 46,710 shares of company stock valued at $1,006,644 in the last ninety days. Insiders own 8.80% of the company’s stock.

Large investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its position in shares of Redfin by 184.7% during the 1st quarter. Wells Fargo & Company MN now owns 62,931 shares of the company’s stock worth $1,436,000 after purchasing an additional 40,823 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Redfin by 611.6% during the 1st quarter. Rhumbline Advisers now owns 53,785 shares of the company’s stock worth $1,228,000 after purchasing an additional 46,227 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Redfin during the 1st quarter worth about $265,000. Trexquant Investment LP acquired a new position in shares of Redfin during the 1st quarter worth about $268,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Redfin during the 1st quarter worth about $320,000. 76.69% of the stock is owned by institutional investors.

Shares of RDFN stock traded up $0.53 on Thursday, reaching $19.30. 1,524,321 shares of the company’s stock traded hands, compared to its average volume of 1,321,737. Redfin has a 12-month low of $16.69 and a 12-month high of $31.50.

About Redfin

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, such as assisting individuals to 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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Earnings History and Estimates for Redfin (NASDAQ:RDFN)

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