$276.80 Million in Sales Expected for Zillow Group, Inc. (ZG) This Quarter
Equities analysts forecast that Zillow Group, Inc. (NASDAQ:ZG) will report $276.80 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Zillow Group’s earnings. The highest sales estimate is $278.10 million and the lowest is $275.71 million. Zillow Group reported sales of $224.59 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.2%. The business is scheduled to issue its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that Zillow Group will report full year sales of $276.80 million for the current year, with estimates ranging from $1.06 billion to $1.08 billion. For the next year, analysts forecast that the firm will report sales of $1.28 billion per share, with estimates ranging from $1.26 billion to $1.30 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Zillow Group.
Zillow Group (NASDAQ:ZG) last posted its quarterly earnings data on Tuesday, August 8th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.11). Zillow Group had a negative net margin of 4.47% and a negative return on equity of 0.40%. The company had revenue of $266.85 million for the quarter, compared to analyst estimates of $262.21 million. During the same quarter last year, the company earned ($0.71) EPS. The business’s revenue was up 28.0% compared to the same quarter last year.
ZG has been the topic of several research analyst reports. Bank of America Corporation reaffirmed a “buy” rating and set a $53.00 price target (up previously from $45.00) on shares of Zillow Group in a research report on Wednesday, June 21st. Craig Hallum reaffirmed a “buy” rating on shares of Zillow Group in a research report on Thursday, June 22nd. KeyCorp initiated coverage on Zillow Group in a research report on Monday, July 17th. They set an “equal weight” rating on the stock. Deutsche Bank AG reaffirmed a “hold” rating and set a $50.00 price target (up previously from $44.00) on shares of Zillow Group in a research report on Monday, August 7th. Finally, Needham & Company LLC lifted their price target on Zillow Group from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Zillow Group presently has a consensus rating of “Hold” and an average price target of $45.07.
Zillow Group (ZG) opened at 41.51 on Wednesday. The firm’s market cap is $7.70 billion. The stock’s 50 day moving average is $40.06 and its 200 day moving average is $41.90. Zillow Group has a 12-month low of $31.24 and a 12-month high of $50.91.
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Large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC acquired a new position in Zillow Group during the second quarter worth $32,613,000. Vanguard Group Inc. grew its holdings in Zillow Group by 11.9% during the first quarter. Vanguard Group Inc. now owns 4,192,272 shares of the technology company’s stock worth $141,741,000 after acquiring an additional 444,184 shares during the period. State of Wisconsin Investment Board grew its holdings in Zillow Group by 88.1% during the second quarter. State of Wisconsin Investment Board now owns 605,427 shares of the technology company’s stock worth $29,569,000 after acquiring an additional 283,536 shares during the period. Caledonia Private Investments Pty Ltd grew its holdings in Zillow Group by 2.0% during the second quarter. Caledonia Private Investments Pty Ltd now owns 13,628,910 shares of the technology company’s stock worth $667,953,000 after acquiring an additional 268,722 shares during the period. Finally, Quantitative Investment Management LLC acquired a new position in Zillow Group during the second quarter worth $12,532,000. 26.13% of the stock is currently owned by institutional investors and hedge funds.
Zillow Group Company Profile
Zillow Group, Inc operates real estate and home-related information marketplaces on mobile and the Web in the United States. The company offers a portfolio of brands and products to enable people find information about homes and connect with local professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
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