Re/Max (NYSE:RMAX) Downgraded by ValuEngine to Strong Sell

ValuEngine downgraded shares of Re/Max (NYSE:RMAX) from a sell rating to a strong sell rating in a research report released on Wednesday morning, ValuEngine reports.

Several other equities research analysts have also commented on the company. Compass Point lowered Re/Max from a buy rating to a neutral rating and cut their price objective for the stock from $42.00 to $31.00 in a research note on Tuesday, August 6th. Craig Hallum upgraded Re/Max from a hold rating to a buy rating and set a $35.00 target price on the stock in a research report on Wednesday, August 21st. JMP Securities raised 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. Finally, Zacks Investment Research upgraded Re/Max from a hold rating to a buy rating and set a $41.00 price target for the company in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Re/Max has a consensus rating of Hold and a consensus target price of $39.86.

Shares of NYSE RMAX traded up $0.09 during trading on Wednesday, hitting $38.90. The company had a trading volume of 210,437 shares, compared to its average volume of 180,679. The stock has a fifty day simple moving average of $36.33 and a two-hundred day simple moving average of $31.17. Re/Max has a fifty-two week low of $24.67 and a fifty-two week high of $44.16. The firm has a market capitalization of $683.97 million, a price-to-earnings ratio of 19.26 and a beta of 1.25. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.28.

Re/Max (NYSE:RMAX) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. The firm had revenue of $71.54 million during the quarter, compared to the consensus estimate of $71.36 million. Re/Max had a net margin of 10.73% and a return on equity of 60.78%. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. On average, analysts anticipate that Re/Max will post 1.98 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.84 dividend on an annualized basis and a yield of 2.16%. Re/Max’s payout ratio is presently 41.58%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new position in shares of Re/Max during the 3rd quarter worth approximately $286,000. Public Employees Retirement System of Ohio increased its holdings in shares of Re/Max by 71.2% in the third quarter. Public Employees Retirement System of Ohio now owns 12,988 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 5,402 shares during the last quarter. Penserra Capital Management LLC increased its holdings in shares of Re/Max by 25.0% in the third quarter. Penserra Capital Management LLC now owns 1,360 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 272 shares during the last quarter. California State Teachers Retirement System lifted its position in Re/Max by 1.2% during the third quarter. California State Teachers Retirement System now owns 27,847 shares of the financial services provider’s stock worth $896,000 after buying an additional 333 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in Re/Max by 25.3% during the third quarter. Voya Investment Management LLC now owns 20,093 shares of the financial services provider’s stock worth $646,000 after buying an additional 4,055 shares in the last quarter.

About Re/Max

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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Analyst Recommendations for Re/Max (NYSE:RMAX)

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