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

Redfin (NASDAQ:RDFN) announced its quarterly earnings data on Tuesday. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $225.50 million for the quarter, compared to analysts’ expectations of $217.79 million. During the same period in the previous year, the business posted ($0.93) EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year.

Redfin Price Performance

Shares of RDFN stock traded down $0.07 during trading hours on Wednesday, hitting $6.30. 4,364,502 shares of the company’s stock were exchanged, compared to its average volume of 5,168,688. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 295.91. Redfin has a 12-month low of $4.26 and a 12-month high of $17.68. The business’s 50 day simple moving average is $6.14 and its 200-day simple moving average is $7.16. The company has a market capitalization of $752.66 million, a PE ratio of -5.44 and a beta of 2.68.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RDFN shares. DA Davidson reiterated a “neutral” rating and issued a $6.75 price objective on shares of Redfin in a research note on Friday, March 22nd. Gordon Haskett downgraded shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price target on the stock. in a report on Thursday, February 29th. Wedbush reiterated a “neutral” rating and issued a $8.00 target price on shares of Redfin in a research note on Wednesday, February 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a report on Wednesday. Finally, Stephens raised Redfin from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $8.00 to $9.00 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.14.

Insider Buying and Selling

In other news, insider Anna Stevens sold 10,851 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total transaction of $73,569.78. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Redfin news, insider Christian John Taubman sold 7,916 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anna Stevens sold 10,851 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the completion of the sale, the insider now directly owns 15,477 shares in the company, valued at $104,934.06. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate 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.