Zillow Group Inc. (NYSE: ZG) released its most recent quarterly results after the markets closed on Monday. Although the initial reaction was fairly negative, the stock seems to have evened out. Also as a result, there have been some downgrades, as well as price target hikes.
24/7 Wall St. has reviewed and included some of the highlights from the earnings report, as well as what analysts are saying about the firm after the fact.
The company posted $0.07 in earnings per share (EPS) on $299.9 million in revenue, compared with consensus estimates that called for $0.06 in EPS on revenue of $299.92 million. In the same period of last year, Zillow said it had EPS of $0.11 and $245.78 million in revenue.
In terms of the outlook for the second quarter, Zillow expects to see revenues between $322 million and $327 million and adjusted EBITDA in the range of $49 million to $57 million. The consensus estimates call for $0.12 in EPS on $343.03 million in revenue for the quarter.
At the same time, it was announced that Chief Financial Officer and Chief Legal Officer Kathleen Philips is retiring from her role as CFO effective May 31, 2018. Jennifer Rock, Zillow Group’s vice president of financial reporting, technical accounting and FP&A, will serve as interim CFO while the company engages an executive recruiting firm to search for a new one.
Here’s what analysts had to say:
- Cowen raised its price target to $52 from $51.
- Barclays raised its price target to $45 from $43.
- Benchmark cut its price target from $64 to $62.
- Canaccord Genuity raised its target to $60 from $54.
- Deutsche Bank cut its price target to $50 from $54.
- Jefferies raised its price target from $50 to $52.
- RBC downgraded it to Sector Perform from Outperform but raised its price target to $52 from $51.
- Stifel raised its target price to $40 from $38.
Shares of Zillow were last seen up 0.5% at $55.90 on Tuesday, with a consensus analyst price target of $54.39 and a 52-week range of $37.96 to $59.73.
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