Zillow Group (NASDAQ:Z) Issues Earnings Results, Misses Estimates By $0.42 EPS

Zillow Group (NASDAQ:Z) issued its quarterly earnings data on Wednesday. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.42), Zacks reports. Zillow Group had a negative return on equity of 2.32% and a negative net margin of 8.12%. The firm had revenue of $529.00 million for the quarter, compared to analysts’ expectations of $509.30 million. During the same period last year, the company earned ($0.06) earnings per share. Zillow Group updated its Q2 2024 guidance to EPS.

Zillow Group Trading Down 4.7 %

Shares of NASDAQ:Z traded down $1.96 on Thursday, hitting $39.93. 7,231,119 shares of the company’s stock were exchanged, compared to its average volume of 3,881,528. Zillow Group has a 12 month low of $33.80 and a 12 month high of $61.13. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of -58.00 and a beta of 1.79. The business’s 50 day simple moving average is $49.08 and its two-hundred day simple moving average is $48.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.24 and a quick ratio of 3.24.

Insider Activity at Zillow Group

In other news, Director Amy Bohutinsky sold 93,750 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $56.69, for a total transaction of $5,314,687.50. Following the sale, the director now owns 5,652 shares in the company, valued at $320,411.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Amy Bohutinsky sold 93,750 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $56.69, for a total value of $5,314,687.50. Following the sale, the director now owns 5,652 shares in the company, valued at $320,411.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Bradley D. Owens sold 966 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $58.01, for a total value of $56,037.66. Following the completion of the sale, the general counsel now owns 17,181 shares in the company, valued at approximately $996,669.81. The disclosure for this sale can be found here. Insiders sold 171,289 shares of company stock worth $9,642,508 over the last three months. 23.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Z has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of Zillow Group from $65.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday. Jefferies Financial Group raised their target price on shares of Zillow Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Monday, March 4th. Wedbush dropped their price objective on shares of Zillow Group from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zillow Group in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Zillow Group currently has a consensus rating of “Hold” and an average price target of $56.20.

About Zillow Group

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.