Wall Street analysts forecast that Redfin (RDFN) will report quarterly loss of $0.24 per share in its upcoming release, pointing to a year-over-year decline of 20%. It is anticipated that revenues will amount to $241.47 million, exhibiting an increase of 10.7% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Redfin metrics that are commonly monitored and projected by Wall Street analysts.
The consensus estimate for 'Revenue- Real estate services' stands at $147.32 million. The estimate indicates a year-over-year change of +10.9%.
The combined assessment of analysts suggests that 'Revenue- Rentals' will likely reach $51.15 million. The estimate indicates a year-over-year change of +4%.
The collective assessment of analysts points to an estimated 'Revenue- Other' of $14.17 million. The estimate indicates a year-over-year change of +45.4%.
According to the collective judgment of analysts, 'Revenue- Mortgage' should come in at $29.82 million. The estimate points to a change of +13.5% from the year-ago quarter.
Analysts expect 'Real estate services transactions - Total' to come in at 13.76 million. Compared to the current estimate, the company reported 13.34 million in the same quarter of the previous year.
Analysts' assessment points toward 'Average number of lead agents' reaching 1,742. Compared to the present estimate, the company reported 1,692 in the same quarter last year.
The consensus among analysts is that 'Real estate services transactions - Partner' will reach 2.92 million. The estimate is in contrast to the year-ago figure of 3.19 million.
It is projected by analysts that the 'Real estate services revenue per transaction - Aggregate' will reach $10.66 million. Compared to the present estimate, the company reported $9.96 million in the same quarter last year.
Analysts predict that the 'Monthly average visitors' will reach 43.87 million. The estimate compares to the year-ago value of 43.86 million.
Based on the collective assessment of analysts, 'Real estate services revenue per transaction - Partner' should arrive at $3.03 million. Compared to the current estimate, the company reported $2.68 million in the same quarter of the previous year.
Analysts forecast 'Real estate services transactions - Brokerage' to reach 10.84 million. Compared to the present estimate, the company reported 10.15 million in the same quarter last year.
The average prediction of analysts places 'Real estate services revenue per transaction - Brokerage' at $12.8 million. Compared to the present estimate, the company reported $12.25 million in the same quarter last year.
View all Key Company Metrics for Redfin here>>>
Shares of Redfin have experienced a change of -1.2% in the past month compared to the -0.5% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), RDFN is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
