Redfin (NASDAQ:RDFN) Issues Earnings Results, Beats Estimates By $0.01 EPS

Redfin (NASDAQ:RDFN) announced its quarterly earnings results on Tuesday. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.01, Briefing.com reports. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The company had revenue of $225.50 million during the quarter, compared to analyst estimates of $217.79 million. During the same period in the prior year, the firm posted ($0.93) earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis.

Redfin Stock Performance

Shares of NASDAQ RDFN traded down $0.07 during mid-day trading on Wednesday, hitting $6.30. The company had a trading volume of 4,364,502 shares, compared to its average volume of 5,168,688. The stock has a market cap of $752.66 million, a price-to-earnings ratio of -5.44 and a beta of 2.68. The firm’s 50 day simple moving average is $6.14 and its two-hundred day simple moving average is $7.16. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.66 and a quick ratio of 1.66. Redfin has a 12 month low of $4.26 and a 12 month high of $17.68.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Gordon Haskett cut shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price target on the stock. in a research report on Thursday, February 29th. Wedbush reiterated a “neutral” rating and issued a $8.00 price target on shares of Redfin in a report on Wednesday, February 28th. Stephens upgraded Redfin from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $8.00 to $9.00 in a research note on Wednesday. DA Davidson reiterated a “neutral” rating and issued a $6.75 target price on shares of Redfin in a research note on Friday, March 22nd. Finally, Citigroup reduced their price target on Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.14.

Insider Buying and Selling

In other news, insider Christian John Taubman sold 7,916 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 52,117 shares of the company’s stock, valued at $359,607.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anna Stevens sold 10,851 shares of Redfin stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total value of $73,569.78. Following the sale, the insider now directly owns 15,477 shares in the company, valued at approximately $104,934.06. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

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.