Redfin Corp (NASDAQ:RDFN) – Research analysts at Wedbush issued their Q1 2020 EPS estimates for Redfin in a note issued to investors on Monday, July 29th, Zacks Investment Research reports. Wedbush analyst Y. Arounian forecasts that the company will post earnings of ($0.83) per share for the quarter. Wedbush currently has a “Buy” rating and a $30.00 target price on the stock. Wedbush also issued estimates for Redfin’s Q2 2020 earnings at $0.03 EPS, Q3 2020 earnings at $0.20 EPS and Q4 2020 earnings at ($0.07) EPS.
RDFN has been the subject of a number of other reports. Zacks Investment Research cut Redfin from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Bank of America upped their price target on Redfin from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. SunTrust Banks began coverage on Redfin in a research note on Tuesday, July 9th. They issued a “buy” rating and a $23.00 price target for the company. TheStreet cut Redfin from a “c-” rating to a “d+” rating in a research note on Tuesday, May 14th. Finally, KeyCorp began coverage on Redfin in a research note on Friday, July 19th. They issued a “sector weight” rating and a $18.00 price target for the company. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Redfin currently has a consensus rating of “Buy” and a consensus target price of $22.93.
NASDAQ:RDFN traded down $1.18 on Thursday, hitting $16.86. 765,998 shares of the stock were exchanged, compared to its average volume of 1,240,872. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.19 and a current ratio of 3.91. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -34.41 and a beta of 1.36. The company’s 50-day moving average price is $17.93 and its 200 day moving average price is $18.87. Redfin has a 52 week low of $13.50 and a 52 week high of $23.47.
Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. The firm had revenue of $197.80 million during the quarter, compared to analysts’ expectations of $190.35 million. Redfin had a negative return on equity of 25.83% and a negative net margin of 15.47%. The company’s quarterly revenue was up 38.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 EPS.
In other Redfin news, CFO Christopher John Nielsen sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $17.35, for a total transaction of $52,050.00. Following the completion of the transaction, the chief financial officer now owns 8,542 shares of the company’s stock, valued at approximately $148,203.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Adam Wiener sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $18.03, for a total value of $90,150.00. Following the transaction, the insider now directly owns 255,503 shares of the company’s stock, valued at approximately $4,606,719.09. The disclosure for this sale can be found here. Insiders sold a total of 150,282 shares of company stock valued at $2,675,385 over the last quarter. 8.20% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in RDFN. Vanguard Group Inc. raised its stake in Redfin by 7.2% in the 2nd quarter. Vanguard Group Inc. now owns 10,440,413 shares of the company’s stock valued at $187,718,000 after acquiring an additional 704,587 shares during the period. Jackson Square Partners LLC raised its stake in Redfin by 6.9% in the 1st quarter. Jackson Square Partners LLC now owns 6,490,949 shares of the company’s stock valued at $131,571,000 after acquiring an additional 417,458 shares during the period. Baillie Gifford & Co. raised its stake in Redfin by 21.7% in the 2nd quarter. Baillie Gifford & Co. now owns 5,779,516 shares of the company’s stock valued at $103,915,000 after acquiring an additional 1,032,134 shares during the period. BlackRock Inc. raised its stake in Redfin by 9.9% in the 2nd quarter. BlackRock Inc. now owns 5,618,562 shares of the company’s stock valued at $101,023,000 after acquiring an additional 504,808 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its stake in Redfin by 2.4% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,267,650 shares of the company’s stock valued at $22,792,000 after acquiring an additional 30,000 shares during the period. 93.14% of the stock is owned by hedge funds and other institutional investors.
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, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.