Redfin (RDFN) Scheduled to Post 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.Parties interested in participating in the company’s 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 (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.01. Redfin had a negative net margin of 11.95% and a negative return on equity of 1,780.89%. The business had revenue of $218.08 million for the quarter, compared to analyst estimates of $220.32 million. During the same quarter last year, the business posted ($0.83) EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. 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 1.6 %

Shares of RDFN traded up $0.09 during midday trading on Tuesday, hitting $5.60. The company’s stock had a trading volume of 1,186,941 shares, compared to its average volume of 5,108,483. Redfin has a one year low of $4.26 and a one year high of $17.68. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 295.91. The company’s fifty day simple moving average is $6.24 and its two-hundred day simple moving average is $7.14.

Insiders Place Their Bets

In other news, insider Christian John Taubman sold 7,916 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 in the company, valued at approximately $359,607.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Redfin news, insider Anna Stevens sold 10,851 shares of the stock in a transaction on 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 directly owns 15,477 shares of the company’s stock, 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 the stock in a transaction on Friday, March 1st. The stock was 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.

Analyst Ratings Changes

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

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.