Redfin Corp (NASDAQ:RDFN) – Research analysts at Jefferies Financial Group issued their Q1 2019 earnings estimates for Redfin in a research report issued to clients and investors on Wednesday, January 9th. Jefferies Financial Group analyst B. Thill anticipates that the company will post earnings per share of ($0.49) for the quarter. Jefferies Financial Group has a “Hold” rating on the stock. Jefferies Financial Group also issued estimates for Redfin’s Q2 2019 earnings at ($0.09) EPS, Q3 2019 earnings at ($0.05) EPS, FY2019 earnings at ($0.84) EPS and FY2020 earnings at ($0.61) EPS.
A number of other research analysts also recently weighed in on the stock. Macquarie initiated coverage on shares of Redfin in a research report on Monday, September 17th. They set a “neutral” rating and a $20.00 target price for the company. Cowen set a $23.00 target price on shares of Redfin and gave the company a “buy” rating in a research report on Friday, October 19th. BidaskClub downgraded shares of Redfin from a “hold” rating to a “sell” rating in a research report on Saturday, October 6th. Susquehanna Bancshares initiated coverage on shares of Redfin in a research report on Thursday, November 29th. They set a “positive” rating and a $19.00 target price for the company. Finally, Needham & Company LLC initiated coverage on shares of Redfin in a research report on Tuesday. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $22.50.
Redfin stock opened at $16.96 on Friday. Redfin has a twelve month low of $13.50 and a twelve month high of $27.27. The company has a market cap of $1.41 billion, a PE ratio of -84.80 and a beta of 0.24. The company has a quick ratio of 8.15, a current ratio of 8.57 and a debt-to-equity ratio of 0.30.
Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, November 8th. The company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. Redfin had a negative net margin of 6.88% and a negative return on equity of 12.10%. The firm had revenue of $140.30 million during the quarter, compared to the consensus estimate of $139.45 million. During the same period in the prior year, the firm earned $0.12 EPS. The company’s revenue was up 28.1% compared to the same quarter last year.
In related news, insider Adam Wiener sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $16.05, for a total transaction of $160,500.00. Following the sale, the insider now directly owns 208,449 shares in the company, valued at approximately $3,345,606.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher John Nielsen sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 24th. The shares were sold at an average price of $14.00, for a total transaction of $42,000.00. Following the sale, the chief financial officer now owns 3,000 shares in the company, valued at $42,000. The disclosure for this sale can be found here. Insiders have sold a total of 47,755 shares of company stock worth $758,106 over the last 90 days. 8.80% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Capital International Investors purchased a new stake in Redfin in the 3rd quarter worth approximately $107,820,000. Vanguard Group Inc lifted its stake in Redfin by 29.5% in the 3rd quarter. Vanguard Group Inc now owns 8,056,148 shares of the company’s stock worth $150,651,000 after purchasing an additional 1,836,101 shares in the last quarter. Vanguard Group Inc. lifted its stake in Redfin by 29.5% in the 3rd quarter. Vanguard Group Inc. now owns 8,056,148 shares of the company’s stock worth $150,651,000 after purchasing an additional 1,836,101 shares in the last quarter. BlackRock Inc. lifted its stake in Redfin by 33.8% in the 3rd quarter. BlackRock Inc. now owns 4,953,847 shares of the company’s stock worth $92,637,000 after purchasing an additional 1,251,210 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its stake in Redfin by 31.9% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 2,333,868 shares of the company’s stock worth $43,783,000 after purchasing an additional 564,802 shares in the last quarter. Institutional investors own 93.83% of the company’s stock.
Redfin Company Profile
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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