Redfin (RDFN) Set to Announce Quarterly Earnings on Thursday

Redfin (NASDAQ:RDFN) is scheduled to be releasing its earnings data after the market closes on Thursday, November 7th. Analysts expect Redfin to post earnings of ($0.20) per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. The firm had revenue of $295.20 million during the quarter, compared to the consensus estimate of $291.59 million. During the same quarter last year, the business posted ($0.25) earnings per share. Redfin’s revenue was up 7.2% compared to the same quarter last year. On average, analysts expect Redfin to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Redfin Price Performance

NASDAQ:RDFN traded up $0.17 during trading hours on Tuesday, hitting $10.61. The stock had a trading volume of 297,254 shares, compared to its average volume of 5,456,703. Redfin has a one year low of $5.10 and a one year high of $15.29. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -8.92 and a beta of 2.70. The company has a 50 day simple moving average of $11.14 and a two-hundred day simple moving average of $8.35.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. B. Riley boosted their target price on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Susquehanna cut their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group boosted their target price on Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.20.

Insiders Place Their Bets

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total transaction of $33,596.00. Following the transaction, the insider now directly owns 71,720 shares of the company’s stock, valued at $663,410. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.40% of the stock is currently owned by company 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.