Redfin (RDFN) Scheduled to Post Earnings on Tuesday

Redfin (NASDAQ:RDFN) is scheduled to be announcing its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.58) per share for the quarter. Redfin has set its Q1 2024 guidance at EPS.Persons that wish to register for 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) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. The firm had revenue of $218.08 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the company earned ($0.83) earnings per share. On average, analysts expect Redfin to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Redfin Stock Up 1.6 %

NASDAQ RDFN traded up $0.09 during trading hours on Tuesday, hitting $5.60. The company had a trading volume of 1,186,941 shares, compared to its average volume of 5,108,483. The firm has a 50 day simple moving average of $6.24 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 quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 295.91.

Analysts Set New Price Targets

A number of analysts recently weighed in on RDFN shares. Royal Bank of Canada decreased 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. Gordon Haskett lowered Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price objective for the company. in a research note on Thursday, February 29th. Wedbush restated a “neutral” rating and issued a $8.00 target price on shares of Redfin in a research note on Wednesday, February 28th. Citigroup dropped their price target 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, DA Davidson restated a “neutral” rating and issued a $6.75 price objective on shares of Redfin in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.92.

Insiders Place Their Bets

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

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.