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

Redfin (NASDAQ:RDFN) posted its quarterly earnings results on Tuesday. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.01, Briefing.com reports. The firm had revenue of $225.50 million during the quarter, compared to analyst estimates of $217.79 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. Redfin’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.93) EPS.

Redfin Price Performance

RDFN stock opened at $7.07 on Friday. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $844.66 million, a PE ratio of -5.94 and a beta of 2.68. The company’s fifty day moving average price is $6.12 and its 200-day moving average price is $7.15. Redfin has a one year low of $4.26 and a one year high of $17.68.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RDFN shares. Stephens upgraded shares of Redfin from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $8.00 to $9.00 in a research note on Wednesday. DA Davidson increased their price objective on Redfin from $6.75 to $7.25 and gave the company a “neutral” rating in a research report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Wednesday. Citigroup lowered 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 Wednesday. Finally, Wedbush reissued a “neutral” rating and set a $8.00 price target on shares of Redfin in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.08.

Insider Buying and Selling at Redfin

In related news, insider Anna Stevens sold 10,851 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of 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 filing with the SEC, which is available through this link. In other 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 sale, the insider now directly owns 52,117 shares in the company, valued at approximately $359,607.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anna Stevens sold 10,851 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of the transaction, the insider now directly owns 15,477 shares of the company’s stock, valued at approximately $104,934.06. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by 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.