Zillow Group Inc (NASDAQ:ZG) Expected to Post Quarterly Sales of $585.76 Million
Equities analysts forecast that Zillow Group Inc (NASDAQ:ZG) will announce sales of $585.76 million for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Zillow Group’s earnings. The highest sales estimate is $594.00 million and the lowest is $581.00 million. Zillow Group reported sales of $325.25 million during the same quarter last year, which suggests a positive year over year growth rate of 80.1%. The company is expected to announce its next earnings results after the market closes on Wednesday, August 7th.
According to Zacks, analysts expect that Zillow Group will report full year sales of $2.41 billion for the current fiscal year, with estimates ranging from $2.16 billion to $2.60 billion. For the next fiscal year, analysts forecast that the business will report sales of $4.18 billion, with estimates ranging from $2.83 billion to $5.61 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Zillow Group.
Zillow Group (NASDAQ:ZG) last posted its earnings results on Thursday, May 9th. The technology company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.08. Zillow Group had a negative return on equity of 3.18% and a negative net margin of 11.35%. The company had revenue of $454.10 million for the quarter, compared to the consensus estimate of $432.09 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. Zillow Group’s revenue was up 51.4% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZG. HGI Capital Management LLC purchased a new position in Zillow Group during the 2nd quarter worth $778,000. FNY Investment Advisers LLC grew its stake in Zillow Group by 198,944.4% during the 2nd quarter. FNY Investment Advisers LLC now owns 17,896 shares of the technology company’s stock worth $818,000 after buying an additional 17,905 shares during the last quarter. CAPROCK Group Inc. purchased a new position in Zillow Group during the 2nd quarter worth $701,000. Garner Asset Management Corp grew its stake in Zillow Group by 16.5% during the 2nd quarter. Garner Asset Management Corp now owns 28,215 shares of the technology company’s stock worth $1,291,000 after buying an additional 3,995 shares during the last quarter. Finally, Norris Perne & French LLP MI purchased a new position in Zillow Group during the 2nd quarter worth $217,000. Institutional investors and hedge funds own 24.16% of the company’s stock.
Shares of NASDAQ ZG traded up $0.20 during trading on Monday, hitting $48.94. The company had a trading volume of 378,704 shares, compared to its average volume of 774,560. The company has a 50 day simple moving average of $46.68. The company has a quick ratio of 3.98, a current ratio of 4.73 and a debt-to-equity ratio of 0.25. Zillow Group has a 12 month low of $26.20 and a 12 month high of $62.54. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of -188.23 and a beta of 0.82.
About Zillow Group
Zillow Group, Inc operates real estate and home-related brands on mobile and the Web in the United States. The company offers a portfolio of brands and products to empowering consumers with unparalleled data, inspiration, and knowledge around homes and connecting them with real estate professionals. Its brands focus on various stages of the home lifecycle, including renting, buying, selling, and financing.
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