Wall Street brokerages expect that Re/Max Holdings Inc (NYSE:RMAX) will post $65.25 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Re/Max’s earnings. The lowest sales estimate is $53.30 million and the highest is $71.46 million. Re/Max posted sales of $52.64 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 24%. The company is expected to issue its next earnings report after the market closes on Thursday, May 2nd.
According to Zacks, analysts expect that Re/Max will report full-year sales of $270.72 million for the current fiscal year, with estimates ranging from $215.60 million to $290.33 million. For the next year, analysts anticipate that the company will post sales of $281.34 million, with estimates ranging from $223.30 million to $302.89 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Re/Max.
Re/Max (NYSE:RMAX) last released its earnings results on Thursday, February 21st. The financial services provider reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. Re/Max had a return on equity of 84.43% and a net margin of 12.72%. The business had revenue of $50.84 million during the quarter, compared to analysts’ expectations of $50.56 million. During the same quarter last year, the firm posted $0.45 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis.
Several brokerages have recently weighed in on RMAX. Zacks Investment Research cut Re/Max from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. TheStreet upgraded Re/Max from a “c” rating to a “b-” rating in a research report on Monday, March 11th. Bank of America cut Re/Max to a “sell” rating and set a $56.00 price target for the company. in a research report on Thursday, December 20th. Compass Point assumed coverage on Re/Max in a research report on Thursday, January 24th. They issued a “neutral” rating and a $40.00 price target for the company. Finally, Morgan Stanley set a $39.00 target price on Re/Max and gave the stock a “buy” rating in a research report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $50.71.
A number of hedge funds have recently modified their holdings of RMAX. O Shaughnessy Asset Management LLC bought a new stake in Re/Max during the fourth quarter worth about $64,000. Quantamental Technologies LLC bought a new stake in shares of Re/Max in the 4th quarter valued at about $102,000. Public Employees Retirement System of Ohio bought a new stake in shares of Re/Max in the 4th quarter valued at about $172,000. Metropolitan Life Insurance Co. NY lifted its stake in shares of Re/Max by 307.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,013 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 4,536 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new stake in shares of Re/Max in the 4th quarter valued at about $208,000. 99.57% of the stock is owned by hedge funds and other institutional investors.
NYSE RMAX traded up $0.16 during trading hours on Friday, hitting $40.58. 117 shares of the company’s stock were exchanged, compared to its average volume of 92,867. Re/Max has a 1-year low of $27.84 and a 1-year high of $58.65. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.40 and a quick ratio of 5.40. The stock has a market capitalization of $723.47 million, a P/E ratio of 20.01, a P/E/G ratio of 2.85 and a beta of 0.88.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.84 annualized dividend and a yield of 2.07%. This is a positive change from Re/Max’s previous quarterly dividend of $0.20. Re/Max’s payout ratio is 41.58%.
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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