Zillow Group, Inc. (NASDAQ:ZG) Expected to Announce Quarterly Sales of $1.27 Billion

Brokerages predict that Zillow Group, Inc. (NASDAQ:ZG) will announce sales of $1.27 billion for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Zillow Group’s earnings, with the lowest sales estimate coming in at $1.26 billion and the highest estimate coming in at $1.28 billion. Zillow Group reported sales of $768.35 million during the same quarter last year, which indicates a positive year-over-year growth rate of 65.3%. The company is expected to announce its next quarterly earnings report on Thursday, August 5th.

On average, analysts expect that Zillow Group will report full-year sales of $5.49 billion for the current fiscal year, with estimates ranging from $5.23 billion to $5.73 billion. For the next fiscal year, analysts anticipate that the business will report sales of $8.02 billion, with estimates ranging from $7.25 billion to $8.83 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Zillow Group.

Zillow Group (NASDAQ:ZG) last released its earnings results on Tuesday, May 4th. The technology company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.41. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Zillow Group had a negative net margin of 11.54% and a negative return on equity of 9.76%. Zillow Group’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.25) EPS.

Several analysts have recently issued reports on the stock. JMP Securities boosted their price objective on shares of Zillow Group from $97.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, February 11th. Citigroup lowered their price objective on shares of Zillow Group from $250.00 to $230.00 in a research note on Friday, May 7th. DA Davidson reduced their target price on shares of Zillow Group from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday. BTIG Research reduced their target price on shares of Zillow Group from $215.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, April 27th. Finally, Needham & Company LLC assumed coverage on shares of Zillow Group in a report on Tuesday, April 27th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $164.36.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trustcore Financial Services LLC bought a new stake in shares of Zillow Group during the 1st quarter valued at about $26,000. Steward Partners Investment Advisory LLC grew its position in shares of Zillow Group by 43.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 215 shares of the technology company’s stock valued at $29,000 after buying an additional 65 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Zillow Group by 143.9% during the 1st quarter. Fifth Third Bancorp now owns 278 shares of the technology company’s stock valued at $37,000 after buying an additional 164 shares during the last quarter. Encompass Wealth Advisors LLC bought a new stake in shares of Zillow Group during the 4th quarter valued at about $41,000. Finally, TRU Independence Asset Management 2 LLC bought a new stake in shares of Zillow Group during the 4th quarter valued at about $41,000. 25.98% of the stock is owned by institutional investors.

ZG stock opened at $109.87 on Thursday. The stock has a market capitalization of $26.44 billion, a P/E ratio of -56.06 and a beta of 1.31. The company has a debt-to-equity ratio of 0.45, a quick ratio of 9.73 and a current ratio of 10.08. Zillow Group has a one year low of $44.70 and a one year high of $212.40. The company has a 50 day moving average price of $134.10 and a two-hundred day moving average price of $137.78.

Zillow Group Company Profile

Zillow Group, Inc, a digital real estate company, operates real estate brands on mobile applications and websites in the United States. It operates through three segments: Homes; Internet, Media & Technology; and Mortgages. The company's mobile applications and websites offer various real estate transactions and related services, including buying, selling, renting, and financing services for residential real estate properties; purchase and sell homes; offer title and escrow services, title insurance products and services, and mortgage loans.

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Earnings History and Estimates for Zillow Group (NASDAQ:ZG)

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