Jefferies Financial Group Weighs in on Redfin Co.’s Q1 2023 Earnings (NASDAQ:RDFN)

Redfin Co. (NASDAQ:RDFNGet Rating) – Research analysts at Jefferies Financial Group increased their Q1 2023 earnings estimates for shares of Redfin in a research note issued to investors on Monday, January 9th. Jefferies Financial Group analyst J. Colantuoni now expects that the company will earn ($0.49) per share for the quarter, up from their previous forecast of ($0.86). Jefferies Financial Group has a “Hold” rating and a $6.50 price target on the stock. The consensus estimate for Redfin’s current full-year earnings is ($3.45) per share. Jefferies Financial Group also issued estimates for Redfin’s Q2 2023 earnings at ($0.22) EPS, Q3 2023 earnings at ($0.19) EPS, Q4 2023 earnings at ($0.31) EPS, FY2023 earnings at ($1.21) EPS, Q1 2024 earnings at ($0.17) EPS, Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at ($0.07) EPS, Q4 2024 earnings at ($0.23) EPS, FY2024 earnings at ($0.54) EPS and FY2025 earnings at ($0.14) EPS.

A number of other equities analysts also recently commented on the stock. DA Davidson cut their price objective on shares of Redfin from $9.50 to $5.50 in a research report on Friday, November 25th. Citigroup started coverage on shares of Redfin in a research report on Tuesday, December 13th. They set a “neutral” rating and a $5.00 price objective for the company. Royal Bank of Canada cut their price objective on shares of Redfin from $10.00 to $5.00 and set a “sector perform” rating for the company in a research report on Thursday, November 10th. Evercore ISI cut their price objective on shares of Redfin to $5.00 in a research report on Tuesday, November 15th. Finally, Stephens cut their price objective on shares of Redfin to $4.00 in a research report on Wednesday, November 16th. Three research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, Redfin has a consensus rating of “Hold” and a consensus price target of $6.50.

Redfin Stock Up 5.7 %

Shares of Redfin stock opened at $6.13 on Thursday. The company has a market cap of $666.63 million, a P/E ratio of -2.28 and a beta of 1.87. The company has a debt-to-equity ratio of 11.34, a quick ratio of 1.43 and a current ratio of 1.89. Redfin has a one year low of $3.08 and a one year high of $34.63. The firm has a fifty day moving average of $4.79 and a two-hundred day moving average of $6.75.

Redfin (NASDAQ:RDFNGet Rating) last released its quarterly earnings results on Wednesday, November 9th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.02. Redfin had a negative net margin of 11.69% and a negative return on equity of 135.08%. The firm had revenue of $600.52 million during the quarter, compared to the consensus estimate of $601.69 million.

Institutional Investors Weigh In On Redfin

Large investors have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. acquired a new stake in shares of Redfin during the 4th quarter worth about $56,000. Bridgefront Capital LLC acquired a new stake in shares of Redfin during the 3rd quarter worth about $159,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Redfin during the 3rd quarter worth about $1,707,000. Murchinson Ltd. acquired a new stake in shares of Redfin during the 3rd quarter worth about $88,000. Finally, Two Sigma Advisers LP boosted its stake in shares of Redfin by 59.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,106,800 shares of the company’s stock worth $6,464,000 after purchasing an additional 413,700 shares during the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 11,104 shares of the stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $4.99, for a total value of $55,408.96. Following the sale, the insider now directly owns 34,338 shares of the company’s stock, valued at approximately $171,346.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.20% of the stock is owned by corporate insiders.

Redfin Company Profile

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Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; originates and sells mortgages; and buys and sells homes.

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Earnings History and Estimates for Redfin (NASDAQ:RDFN)

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