Q3 2021 EPS Estimates for Redfin Corp Decreased by Wedbush (NASDAQ:RDFN)

Redfin Corp (NASDAQ:RDFN) – Analysts at Wedbush cut their Q3 2021 earnings per share estimates for Redfin in a note issued to investors on Friday, July 24th. Wedbush analyst Y. Arounian now anticipates that the company will post earnings of $0.14 per share for the quarter, down from their previous estimate of $0.15. Wedbush currently has a “Outperform” rating and a $46.00 price target on the stock. Wedbush also issued estimates for Redfin’s Q1 2022 earnings at ($0.50) EPS, Q2 2022 earnings at ($0.21) EPS and FY2022 earnings at ($0.44) EPS.

RDFN has been the subject of a number of other reports. Zelman & Associates raised shares of Redfin from a “hold” rating to a “buy” rating in a report on Monday. Needham & Company LLC assumed coverage on shares of Redfin in a report on Tuesday, May 19th. They set a “hold” rating for the company. ValuEngine downgraded shares of Redfin from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. Zacks Investment Research raised shares of Redfin from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Wednesday, June 24th. Finally, Royal Bank of Canada downgraded shares of Redfin from an “outperform” rating to a “sector perform” rating and set a $41.00 price target for the company. in a research note on Thursday, July 9th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. Redfin currently has an average rating of “Hold” and a consensus target price of $32.69.

NASDAQ RDFN opened at $39.49 on Monday. Redfin has a 52-week low of $9.63 and a 52-week high of $44.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.84 and a current ratio of 3.36. The company has a market capitalization of $4.03 billion, a P/E ratio of -49.99 and a beta of 2.04. The company has a fifty day moving average of $38.36 and a 200-day moving average of $27.01.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.11. Redfin had a negative net margin of 8.57% and a negative return on equity of 23.57%. The company had revenue of $191.00 million during the quarter, compared to the consensus estimate of $178.77 million. During the same period in the previous year, the firm posted ($0.74) EPS. The firm’s revenue was up 73.5% compared to the same quarter last year.

In other Redfin news, insider Adam Wiener sold 20,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $34.53, for a total value of $690,600.00. Following the transaction, the insider now owns 296,221 shares in the company, valued at $10,228,511.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher John Nielsen sold 3,000 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $40.31, for a total transaction of $120,930.00. Following the completion of the transaction, the chief financial officer now owns 19,086 shares in the company, valued at approximately $769,356.66. The disclosure for this sale can be found here. Insiders sold 77,549 shares of company stock worth $2,276,524 in the last 90 days. Corporate insiders own 7.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new position in shares of Redfin during the fourth quarter valued at about $3,091,000. Public Employees Retirement Association of Colorado increased its position in shares of Redfin by 63.7% during the first quarter. Public Employees Retirement Association of Colorado now owns 12,149 shares of the company’s stock valued at $187,000 after buying an additional 4,727 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Redfin by 239.0% during the fourth quarter. Cubist Systematic Strategies LLC now owns 89,465 shares of the company’s stock valued at $1,891,000 after buying an additional 63,073 shares during the period. Geode Capital Management LLC increased its position in shares of Redfin by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 1,148,879 shares of the company’s stock valued at $24,287,000 after buying an additional 41,955 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Redfin by 278.7% during the first quarter. First Trust Advisors LP now owns 222,085 shares of the company’s stock valued at $3,425,000 after buying an additional 163,444 shares during the period. Institutional investors own 87.88% of the company’s stock.

About Redfin

Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.

Further Reading: Equity Income

Earnings History and Estimates for Redfin (NASDAQ:RDFN)

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