Zacks: Analysts Anticipate Redfin Corp (RDFN) Will Post Quarterly Sales of $91.60 Million

Wall Street brokerages expect Redfin Corp (NASDAQ:RDFN) to announce $91.60 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Redfin’s earnings, with estimates ranging from $91.20 million to $92.00 million. The business is scheduled to report its next earnings results on Thursday, February 8th.

On average, analysts expect that Redfin will report full-year sales of $91.60 million for the current financial year, with estimates ranging from $365.40 million to $366.28 million. For the next fiscal year, analysts expect that the firm will report sales of $473.06 million per share, with estimates ranging from $464.00 million to $476.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Redfin.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.12 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. The company had revenue of $109.50 million for the quarter, compared to analysts’ expectations of $110.62 million. The firm’s revenue was up 35.0% on a year-over-year basis.

Several analysts have commented on RDFN shares. BidaskClub raised Redfin from a “hold” rating to a “buy” rating in a research note on Saturday, December 30th. Oppenheimer reduced their price objective on Redfin from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday, November 10th. KeyCorp started coverage on Redfin in a research note on Tuesday, December 19th. They set a “sector weight” rating for the company. William Blair started coverage on Redfin in a research note on Thursday, October 19th. They set an “outperform” rating for the company. Finally, Zacks Investment Research raised Redfin from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.50.

Shares of Redfin (RDFN) opened at $19.76 on Friday. Redfin has a one year low of $19.29 and a one year high of $33.49.

Hedge funds have recently modified their holdings of the company. Advisor Group Inc. purchased a new position in shares of Redfin during the 3rd quarter worth approximately $129,000. SG Americas Securities LLC purchased a new position in shares of Redfin during the 3rd quarter worth approximately $139,000. Wells Fargo & Company MN purchased a new position in shares of Redfin during the 3rd quarter worth approximately $158,000. FNY Partners Fund LP purchased a new position in shares of Redfin during the 3rd quarter worth approximately $175,000. Finally, American International Group Inc. purchased a new position in shares of Redfin during the 3rd quarter worth approximately $181,000. 37.90% of the stock is owned by institutional investors and hedge funds.

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Redfin Company Profile

Redfin Corporation is engaged in providing residential real estate brokerage services. The customer can search for homes by neighborhood, city or MLS number, or can refine results using detailed parameters, such as price and number of beds or baths. The Company serves home buyers and sellers. The Company offers online tools to consumers, including Redfin Estimate, which is an automated home-valuation tool.

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Earnings History and Estimates for Redfin (NASDAQ:RDFN)

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