Redfin Corporation to Post FY2020 Earnings of $0.30 Per Share, Oppenheimer Holdings Forecasts (RDFN)

Redfin Corporation (NASDAQ:RDFN) – Stock analysts at Oppenheimer Holdings cut their FY2020 earnings per share estimates for Redfin Corporation in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst J. Helfstein now anticipates that the company will earn $0.30 per share for the year, down from their previous estimate of $0.33. Oppenheimer Holdings has a “Outperform” rating and a $27.00 price target on the stock.

Redfin Corporation (NASDAQ:RDFN) last released its earnings results on Thursday, November 9th. The company reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. The business had revenue of $109.50 million for the quarter, compared to the consensus estimate of $110.62 million. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year.

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RDFN has been the topic of a number of other research reports. William Blair initiated coverage on Redfin Corporation in a research note on Thursday, October 19th. They set an “outperform” rating on the stock. CIBC initiated coverage on Redfin Corporation in a research note on Tuesday, August 22nd. They set an “outperform” rating and a $31.00 target price on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and set a $26.00 target price on shares of Redfin Corporation in a research note on Wednesday, November 1st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $28.00 target price on shares of Redfin Corporation in a research note on Monday, October 30th. Finally, Stifel Nicolaus initiated coverage on Redfin Corporation in a research note on Tuesday, August 22nd. They issued a “hold” rating and a $24.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $25.86.

Redfin Corporation (NASDAQ RDFN) traded up $0.36 on Monday, hitting $21.29. The stock had a trading volume of 684,500 shares, compared to its average volume of 1,129,533. Redfin Corporation has a 1 year low of $19.29 and a 1 year high of $33.49.

A number of large investors have recently made changes to their positions in RDFN. Nationwide Fund Advisors bought a new position in Redfin Corporation in the third quarter worth approximately $285,000. First Trust Advisors LP bought a new position in Redfin Corporation in the third quarter worth approximately $1,548,000. Baillie Gifford & Co. bought a new position in Redfin Corporation in the third quarter worth approximately $15,442,000. Advisor Group Inc. bought a new position in Redfin Corporation in the third quarter worth approximately $129,000. Finally, Bank of New York Mellon Corp bought a new position in Redfin Corporation in the third quarter worth approximately $832,000. 1.50% of the stock is currently owned by institutional investors.

Redfin Corporation 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.

Earnings History and Estimates for Redfin Corporation (NASDAQ:RDFN)

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