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Redfin (RDFN) Moves 5.3% Higher: Will This Strength Last?
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Redfin (RDFN - Free Report) shares soared 5.3% in the last trading session to close at $6.57. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 21% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to the favorable operating environment.
This real estate broker is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $291.59 million, up 5.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Redfin, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RDFN going forward to see if this recent jump can turn into more strength down the road.
Redfin is a member of the Zacks Real Estate - Operations industry. One other stock in the same industry, Cushman & Wakefield (CWK - Free Report) , finished the last trading session 3.6% higher at $10.63. CWK has returned -5.7% over the past month.
For Cushman & Wakefield, the consensus EPS estimate for the upcoming report has changed -6.1% over the past month to $0.18. This represents a change of -18.2% from what the company reported a year ago. Cushman & Wakefield currently has a Zacks Rank of #3 (Hold).
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Redfin (RDFN) Moves 5.3% Higher: Will This Strength Last?
Redfin (RDFN - Free Report) shares soared 5.3% in the last trading session to close at $6.57. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 21% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to the favorable operating environment.
This real estate broker is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $291.59 million, up 5.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Redfin, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RDFN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Redfin is a member of the Zacks Real Estate - Operations industry. One other stock in the same industry, Cushman & Wakefield (CWK - Free Report) , finished the last trading session 3.6% higher at $10.63. CWK has returned -5.7% over the past month.
For Cushman & Wakefield, the consensus EPS estimate for the upcoming report has changed -6.1% over the past month to $0.18. This represents a change of -18.2% from what the company reported a year ago. Cushman & Wakefield currently has a Zacks Rank of #3 (Hold).