Zacks: Analysts Anticipate Zillow Group, Inc. (ZG) Will Post Quarterly Sales of $276.80 Million
Equities analysts forecast that Zillow Group, Inc. (NASDAQ:ZG) will announce sales of $276.80 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Zillow Group’s earnings, with estimates ranging from $275.71 million to $278.10 million. Zillow Group posted 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 firm is scheduled to announce 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 fiscal year, with estimates ranging from $1.06 billion to $1.08 billion. For the next financial year, analysts anticipate that the business will report sales of $1.28 billion per share, with estimates ranging from $1.26 billion to $1.30 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Zillow Group.
Zillow Group (NASDAQ:ZG) last released its quarterly earnings results on Tuesday, August 8th. The technology company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.11. The firm had revenue of $266.85 million for the quarter, compared to analyst estimates of $262.21 million. Zillow Group had a negative net margin of 4.47% and a negative return on equity of 0.40%. Zillow Group’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.71) earnings per share.
ZG has been the subject of a number of analyst reports. Cowen and Company lifted their target price on shares of Zillow Group from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Monday, May 15th. Bank of America Corporation reiterated a “buy” rating and issued a $53.00 target price (up from $45.00) on shares of Zillow Group in a research note on Wednesday, June 21st. Craig Hallum reiterated a “buy” rating on shares of Zillow Group in a research note on Thursday, June 22nd. KeyCorp began coverage on shares of Zillow Group in a research note on Monday, July 17th. They issued an “equal weight” rating for the company. Finally, Stephens restated an “overweight” rating and issued a $54.00 price objective (up from $48.00) on shares of Zillow Group in a research note on Monday, June 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $45.07.
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Hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC bought a new position in Zillow Group during the second quarter worth $473,000. Spark Investment Management LLC bought a new stake in Zillow Group in the 2nd quarter valued at $5,089,000. Teachers Advisors LLC increased its holdings in Zillow Group by 4.9% in the 1st quarter. Teachers Advisors LLC now owns 50,852 shares of the technology company’s stock valued at $1,719,000 after buying an additional 2,370 shares during the period. Geode Capital Management LLC increased its holdings in Zillow Group by 14.9% in the 1st quarter. Geode Capital Management LLC now owns 416,848 shares of the technology company’s stock valued at $14,093,000 after buying an additional 54,099 shares during the period. Finally, Accuvest Global Advisors bought a new stake in Zillow Group in the 2nd quarter valued at $527,000. 26.13% of the stock is currently owned by institutional investors and hedge funds.
Zillow Group (ZG) traded up 2.18% during midday trading on Monday, reaching $38.97. 88,197 shares of the company were exchanged. The firm’s market cap is $7.23 billion. Zillow Group has a one year low of $31.17 and a one year high of $50.91. The firm’s 50-day moving average is $41.82 and its 200-day moving average is $40.88.
About Zillow Group
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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