Zacks: Brokerages Anticipate Zillow Group, Inc. (ZG) Will Announce Quarterly Sales of $277.11 Million
Equities research analysts expect that Zillow Group, Inc. (NASDAQ:ZG) will announce sales of $277.11 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Zillow Group’s earnings, with the lowest sales estimate coming in at $275.44 million and the highest estimate coming in at $278.40 million. Zillow Group posted sales of $227.61 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21.7%. The firm is scheduled to report its next earnings results on Tuesday, February 6th.
According to Zacks, analysts expect that Zillow Group will report full-year sales of $277.11 million for the current financial year, with estimates ranging from $1.06 billion to $1.07 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.29 billion per share, with estimates ranging from $1.26 billion to $1.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Zillow Group.
Zillow Group (NASDAQ:ZG) last posted its earnings results on Tuesday, November 7th. The technology company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.02. Zillow Group had a negative return on equity of 0.25% and a negative net margin of 3.99%. The company had revenue of $282.00 million for the quarter, compared to analyst estimates of $276.57 million. During the same period last year, the company earned $0.17 earnings per share. The business’s revenue was up 25.6% compared to the same quarter last year.
Several equities analysts have recently issued reports on ZG shares. Canaccord Genuity reissued a “buy” rating and issued a $52.00 price target on shares of Zillow Group in a report on Wednesday, November 8th. Barclays PLC upped their target price on shares of Zillow Group from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 8th. JMP Securities boosted their price target on shares of Zillow Group from $55.00 to $56.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 8th. Royal Bank Of Canada boosted their price target on shares of Zillow Group from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 8th. Finally, Macquarie started coverage on shares of Zillow Group in a research report on Monday, September 25th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $47.21.
Zillow Group (ZG) opened at $42.19 on Friday. The company has a quick ratio of 6.44, a current ratio of 6.44 and a debt-to-equity ratio of 0.14. Zillow Group has a 1 year low of $32.63 and a 1 year high of $50.91.
A number of institutional investors have recently modified their holdings of the business. Brighton Jones LLC purchased a new stake in shares of Zillow Group during the second quarter valued at $473,000. Alliancebernstein L.P. boosted its stake in shares of Zillow Group by 28.9% during the 2nd quarter. Alliancebernstein L.P. now owns 25,841 shares of the technology company’s stock worth $1,262,000 after acquiring an additional 5,800 shares in the last quarter. Osterweis Capital Management Inc. boosted its stake in shares of Zillow Group by 177.2% during the 2nd quarter. Osterweis Capital Management Inc. now owns 62,243 shares of the technology company’s stock worth $3,040,000 after acquiring an additional 39,785 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Zillow Group by 1,267.9% in the second quarter. Royal Bank of Canada now owns 18,946 shares of the technology company’s stock worth $925,000 after buying an additional 17,561 shares during the period. Finally, Caledonia Private Investments Pty Ltd boosted its position in shares of Zillow Group by 2.0% in the second quarter. Caledonia Private Investments Pty Ltd now owns 13,628,910 shares of the technology company’s stock worth $667,953,000 after buying an additional 268,722 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.
About Zillow Group
Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable people find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
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