What is B. Riley's Estimate for Redfin FY2024 Earnings?

Redfin Co. (NASDAQ:RDFN - Free Report) - Equities research analysts at B. Riley dropped their FY2024 earnings estimates for Redfin in a research report issued on Monday, November 11th. B. Riley analyst N. Khan now anticipates that the company will post earnings per share of ($1.31) for the year, down from their previous estimate of ($1.15). B. Riley has a "Buy" rating and a $15.00 price target on the stock. The consensus estimate for Redfin's current full-year earnings is ($1.18) per share. B. Riley also issued estimates for Redfin's Q4 2024 earnings at ($0.24) EPS, Q1 2025 earnings at ($0.31) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at ($0.22) EPS, FY2025 earnings at ($0.96) EPS, FY2026 earnings at ($0.69) EPS and FY2027 earnings at ($0.24) EPS.

Several other research analysts have also commented on RDFN. Susquehanna raised their price objective on shares of Redfin from $7.00 to $10.00 and gave the company a "neutral" rating in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of Redfin from $7.00 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday. Jefferies Financial Group raised their price objective on shares of Redfin from $7.50 to $11.50 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Redfin in a report on Wednesday, August 7th. Finally, Wedbush boosted their price objective on shares of Redfin from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Redfin presently has an average rating of "Hold" and an average target price of $9.23.

Redfin Stock Down 1.3 %

Shares of RDFN traded down $0.11 during trading on Thursday, reaching $8.68. 2,365,462 shares of the company traded hands, compared to its average volume of 5,572,485. The stock has a 50-day simple moving average of $11.15 and a 200-day simple moving average of $8.60. Redfin has a twelve month low of $5.10 and a twelve month high of $15.29. The stock has a market cap of $1.08 billion, a PE ratio of -6.87 and a beta of 2.70.

Redfin (NASDAQ:RDFN - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.08). The business had revenue of $278.02 million for the quarter, compared to analyst estimates of $280.21 million. During the same period in the previous year, the company posted ($0.17) EPS.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total transaction of $33,596.00. Following the completion of the transaction, the insider now owns 71,720 shares of the company's stock, valued at approximately $663,410. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redfin

Several hedge funds have recently bought and sold shares of RDFN. Vanguard Group Inc. boosted its holdings in shares of Redfin by 11.3% during the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company's stock worth $127,623,000 after purchasing an additional 1,953,127 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Redfin by 25.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company's stock worth $14,450,000 after purchasing an additional 445,486 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Redfin by 210.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company's stock worth $13,687,000 after purchasing an additional 740,759 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Redfin by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company's stock worth $12,508,000 after purchasing an additional 92,023 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Redfin by 476.6% during the third quarter. BNP Paribas Financial Markets now owns 799,523 shares of the company's stock worth $10,018,000 after purchasing an additional 660,872 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company's stock.

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.