Brokerages forecast that Re/Max Holdings Inc (NYSE:RMAX) will report $68.17 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Re/Max’s earnings, with the lowest sales estimate coming in at $68.00 million and the highest estimate coming in at $68.52 million. Re/Max posted sales of $50.84 million in the same quarter last year, which indicates a positive year over year growth rate of 34.1%. The company is expected to announce its next quarterly earnings results on Thursday, February 20th.
On average, analysts expect that Re/Max will report full-year sales of $282.43 million for the current fiscal year, with estimates ranging from $282.00 million to $283.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $286.82 million, with estimates ranging from $282.00 million to $292.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Re/Max.
Re/Max (NYSE:RMAX) last issued its earnings results on Thursday, October 31st. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Re/Max had a net margin of 10.73% and a return on equity of 60.78%. The company had revenue of $71.54 million for the quarter, compared to the consensus estimate of $71.36 million. During the same period in the previous year, the firm earned $0.65 earnings per share. Re/Max’s quarterly revenue was up 30.4% compared to the same quarter last year.
A number of research firms have recently issued reports on RMAX. JMP Securities raised shares of Re/Max from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Monday, September 16th. Zacks Investment Research raised shares of Re/Max from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Thursday, November 7th. ValuEngine raised shares of Re/Max from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 21st. Stephens boosted their price target on shares of Re/Max from $31.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, Craig Hallum upgraded shares of Re/Max from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Re/Max presently has a consensus rating of “Hold” and a consensus price target of $39.86.
RMAX stock traded down $0.12 during trading on Friday, reaching $38.23. 146,765 shares of the stock were exchanged, compared to its average volume of 180,511. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 2.28. The business has a 50 day moving average price of $35.28 and a 200-day moving average price of $31.06. Re/Max has a 1 year low of $24.67 and a 1 year high of $44.16. The firm has a market capitalization of $683.97 million, a price-to-earnings ratio of 18.93 and a beta of 1.25.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Tuesday, November 12th. Re/Max’s payout ratio is 41.58%.
A number of hedge funds have recently added to or reduced their stakes in RMAX. Confluence Investment Management LLC raised its position in Re/Max by 252.3% during the 3rd quarter. Confluence Investment Management LLC now owns 501,435 shares of the financial services provider’s stock worth $16,126,000 after buying an additional 359,111 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in Re/Max by 24.1% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 967,610 shares of the financial services provider’s stock worth $29,764,000 after buying an additional 188,008 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new position in Re/Max during the 2nd quarter worth $3,798,000. Southside Capital LLC raised its position in Re/Max by 87.1% during the 2nd quarter. Southside Capital LLC now owns 260,000 shares of the financial services provider’s stock worth $7,998,000 after buying an additional 121,048 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new position in Re/Max during the 2nd quarter worth $3,676,000.
Re/Max Company Profile
RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. It also provides real estate technology solutions.
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