Redfin (RDFN) Set to Announce Earnings on Tuesday

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

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

Redfin Trading Up 5.1 %

RDFN stock opened at $6.20 on Monday. Redfin has a fifty-two week low of $4.26 and a fifty-two week high of $17.68. The business’s 50 day moving average price is $6.16 and its two-hundred day moving average price is $7.14. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 295.91.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Gordon Haskett downgraded Redfin from a “hold” rating to an “underperform” rating and set a $5.50 target price on the stock. in a report on Thursday, February 29th. DA Davidson restated a “neutral” rating and issued a $6.75 price target on shares of Redfin in a research note on Friday, March 22nd. Royal Bank of Canada cut their price target on Redfin from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Wedbush reiterated a “neutral” rating and set a $8.00 target price on shares of Redfin in a research note on Wednesday, February 28th. Finally, Citigroup lowered their price target on Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.03.

Insider Buying and Selling at Redfin

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