Analysts Expect Zillow Group Inc (NASDAQ:ZG) Will Announce Quarterly Sales of $584.72 Million

Brokerages expect that Zillow Group Inc (NASDAQ:ZG) will post sales of $584.72 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Zillow Group’s earnings, with estimates ranging from $581.00 million to $594.00 million. Zillow Group posted sales of $325.25 million during the same quarter last year, which suggests a positive year over year growth rate of 79.8%. The firm is scheduled to announce its next quarterly earnings results on Monday, August 5th.

According to Zacks, analysts expect that Zillow Group will report full year sales of $2.39 billion for the current financial year, with estimates ranging from $2.16 billion to $2.60 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $4.11 billion, with estimates ranging from $2.83 billion to $5.61 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Zillow Group.

Zillow Group (NASDAQ:ZG) last issued its earnings results on Thursday, May 9th. The technology company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.08. The firm had revenue of $454.10 million during the quarter, compared to analysts’ expectations of $432.09 million. Zillow Group had a negative return on equity of 3.18% and a negative net margin of 11.35%. Zillow Group’s quarterly revenue was up 51.4% compared to the same quarter last year. During the same period last year, the business earned $0.07 earnings per share.

ZG has been the subject of several recent analyst reports. BidaskClub lowered Zillow Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Canaccord Genuity set a $52.00 price objective on Zillow Group and gave the stock a “hold” rating in a research note on Wednesday, June 19th. Guggenheim increased their price objective on Zillow Group from $45.00 to $50.00 in a research note on Tuesday, June 18th. Piper Jaffray Companies initiated coverage on Zillow Group in a research note on Thursday, June 13th. They set a “neutral” rating and a $48.00 price objective for the company. Finally, Craig Hallum increased their price objective on Zillow Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Zillow Group has a consensus rating of “Hold” and an average target price of $45.20.

Shares of ZG stock opened at $45.76 on Friday. The company has a market capitalization of $9.09 billion, a PE ratio of -176.00 and a beta of 0.83. Zillow Group has a one year low of $26.20 and a one year high of $64.66. The business has a fifty day moving average price of $42.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.98 and a current ratio of 4.73.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Zillow Group by 4.0% in the fourth quarter. BlackRock Inc. now owns 2,328,142 shares of the technology company’s stock valued at $73,173,000 after buying an additional 88,853 shares in the last quarter. State of Wisconsin Investment Board increased its stake in shares of Zillow Group by 94.0% in the first quarter. State of Wisconsin Investment Board now owns 1,819,535 shares of the technology company’s stock valued at $62,228,000 after buying an additional 881,815 shares in the last quarter. Norges Bank acquired a new stake in shares of Zillow Group in the fourth quarter valued at $28,753,000. FMR LLC increased its stake in shares of Zillow Group by 241.4% in the fourth quarter. FMR LLC now owns 528,637 shares of the technology company’s stock valued at $16,615,000 after buying an additional 373,785 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Zillow Group by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 479,865 shares of the technology company’s stock valued at $15,082,000 after buying an additional 28,766 shares in the last quarter. Institutional investors own 24.15% of the company’s stock.

Zillow Group Company Profile

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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Earnings History and Estimates for Zillow Group (NASDAQ:ZG)

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