Redfin (RDFN) Scheduled to Post Earnings on Tuesday

Redfin (NASDAQ:RDFN) will issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.58) per share for the quarter. Redfin has set its Q1 2024 guidance at EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.01. The business had revenue of $218.08 million for the quarter, compared to analyst estimates of $220.32 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.83) EPS. On average, analysts expect Redfin to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Redfin Price Performance

NASDAQ:RDFN opened at $6.20 on Friday. The company has a 50 day moving average price of $6.16 and a 200-day moving average price of $7.13. Redfin has a 1-year low of $4.26 and a 1-year high of $17.68. The firm has a market cap of $740.72 million, a price-to-earnings ratio of -5.30 and a beta of 2.68. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.66 and a quick ratio of 1.66.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Royal Bank of Canada reduced their target price on Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Citigroup decreased their price objective on Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Gordon Haskett cut shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 target price for the company. in a research report on Thursday, February 29th. DA Davidson restated a “neutral” rating and set a $6.75 price target on shares of Redfin in a research report on Friday, March 22nd. Finally, Wedbush reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, Redfin has an average rating of “Hold” and an average target price of $7.92.

Insider Activity

In other news, insider Christian John Taubman sold 7,916 shares of Redfin stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $6.90, for a total transaction of $54,620.40. Following the sale, the insider now owns 52,117 shares of the company’s stock, valued at approximately $359,607.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Christian John Taubman sold 7,916 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $6.90, for a total transaction of $54,620.40. Following the completion of the transaction, the insider now directly owns 52,117 shares in the company, valued at approximately $359,607.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anna Stevens sold 10,851 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of the sale, the insider now owns 15,477 shares in the company, valued at $104,934.06. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

Redfin Company Profile

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; and originates and sells mortgages.