What is B. Riley’s Estimate for Redfin FY2029 Earnings?

Redfin Co. (NASDAQ:RDFN) – Research analysts at B. Riley decreased their FY2029 earnings per share (EPS) estimates for Redfin in a report issued on Monday, May 12th. B. Riley analyst N. Khan now forecasts that the company will post earnings of $0.46 per share for the year, down from their prior estimate of $0.51. B. Riley has a “Hold” rating on the stock. The consensus estimate for Redfin’s current full-year earnings is ($1.25) per share.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.04). The business had revenue of $221.03 million during the quarter, compared to the consensus estimate of $220.89 million. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.57) earnings per share.

Several other brokerages also recently weighed in on RDFN. Susquehanna reduced their target price on Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. DA Davidson reiterated a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Wednesday, February 19th. Gordon Haskett upgraded Redfin to a “hold” rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. boosted their price target on Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.45.

Redfin Price Performance

Shares of RDFN stock opened at $9.84 on Tuesday. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -7.69 and a beta of 2.50. The stock has a 50 day simple moving average of $9.48 and a 200-day simple moving average of $8.88. Redfin has a 1-year low of $5.49 and a 1-year high of $15.29.

Insider Buying and Selling at Redfin

In other news, insider Christian John Taubman sold 16,209 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the completion of the transaction, the insider now directly owns 74,616 shares in the company, valued at approximately $831,968.40. This represents a 17.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Redfin

A number of hedge funds have recently modified their holdings of RDFN. Hennessy Advisors Inc. purchased a new position in shares of Redfin during the 4th quarter worth $40,109,000. Alpine Associates Management Inc. acquired a new position in Redfin during the 1st quarter worth about $12,150,000. Nuveen LLC purchased a new position in Redfin during the 1st quarter valued at about $10,222,000. ABC Arbitrage SA purchased a new position in Redfin during the 1st quarter valued at about $4,692,000. Finally, Two Sigma Advisers LP boosted its holdings in Redfin by 17.4% during the 4th quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company’s stock valued at $19,865,000 after acquiring an additional 374,200 shares during the period. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

About Redfin

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.