Redfin (RDFN) Set to Announce Earnings on Tuesday

Redfin (NASDAQ:RDFN) will post 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 posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. The company had revenue of $218.08 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business earned ($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 Trading Up 5.1 %

Shares of NASDAQ RDFN opened at $6.20 on Monday. The business has a 50 day simple moving average of $6.16 and a 200 day simple moving average of $7.14. Redfin has a 52 week low of $4.26 and a 52 week high of $17.68. 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

Several brokerages recently commented on RDFN. Gordon Haskett cut Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price target for the company. in a research note on Thursday, February 29th. DA Davidson reaffirmed a “neutral” rating and set a $6.75 target price on shares of Redfin in a research report on Friday, March 22nd. Royal Bank of Canada decreased their target price on Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Citigroup decreased their target price on Redfin from $10.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Finally, Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Redfin in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.03.

Insiders Place Their Bets

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

About Redfin

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.