Analysts expect RE/MAX Holdings, Inc. (NYSE: RMAX – Get a rating) will report earnings per share (EPS) of $0.66 for the current quarter, according to Zacks Investment Research. Two analysts have made earnings estimates for RE/MAX, with the highest EPS estimate of $0.72 and the lowest estimate of $0.61. RE/MAX posted earnings of $0.63 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 4.8%. The company is expected to release its next quarterly results on Monday, January 1.
On average, analysts expect RE/MAX to report annual earnings of $2.50 per share for the current year, with EPS estimates ranging from $2.44 to $2.52. For the next fiscal year, analysts expect the company to report earnings of $2.60 per share, with EPS estimates ranging from $2.55 to $2.66. Zacks Investment Research’s EPS calculations are an average average based on a survey of analysts who provide coverage for RE/MAX.
RE/MAX (NYSE: RMAX – Get a rating) last released its quarterly earnings data on Thursday, April 28. The financial services provider reported earnings per share of $0.51 for the quarter, beating the consensus estimate of $0.29 by $0.22. The company posted revenue of $91.00 million in the quarter, versus analyst estimates of $90.77 million. RE/MAX had a negative net margin of 4.42% and a positive return on equity of 68.84%. The company’s revenue increased 25.9% year over year. In the same quarter last year, the company posted earnings per share of $0.18.
RMAX has been the subject of a number of recent analyst reports. Morgan Stanley lowered its price target on RE/MAX shares from $30.50 to $28.50 and set an “equal weight” rating on the stock in a Wednesday, March 9 report. Zacks Investment Research upgraded RE/MAX shares from a “sell” to a “hold” rating in a Saturday, April 30 report. Jonestrading launched a hedge on RE/MAX shares in a Wednesday, March 2 report. They set a “buy” rating and a price target of $38.00 on the stock. StockNews.com supposed coverage of RE/MAX shares in a Thursday, March 31 report. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods lowered their price target on RE/MAX shares from $37.00 to $35.00 in a Monday, Feb. 28 research note. Three equity research analysts gave the stock a hold rating and two gave the stock a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.90.
Shares of RE/MAX traded down $0.35 at midday Friday, hitting $24.33. The company had a trading volume of 104,850 shares, compared to an average volume of 261,721. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt ratio of 6.40. The company has a market capitalization of $468.84 million, a price-earnings ratio of -29.31 and a beta of 1.40. The stock has a fifty-day simple moving average of $24.86 and a 200-day simple moving average of $27.87. RE/MAX has a 1 year minimum of $21.48 and a 1 year maximum of $35.62.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 25. Shareholders of record on Wednesday, May 11 received a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 10. This represents a dividend of $0.92 on an annualized basis and a dividend yield of 3.78%. RE/MAX’s distribution rate is -110.84%.
Several hedge funds have recently changed their positions in the stock. Magnolia Group LLC bought a new position in RE/MAX in the first quarter worth approximately $23,429,000. Assenagon Asset Management SA bought a new position in RE/MAX in the fourth quarter worth approximately $6,958,000. Balyasny Asset Management LLC bought a new position in RE/MAX in the third quarter worth approximately $5,327,000. Aureus Asset Management LLC increased its position in RE/MAX by 16.2% in the first quarter. Aureus Asset Management LLC now owns 830,829 shares of the financial services provider valued at $23,039,000 after purchasing an additional 116,072 shares in the last quarter. Finally, Morgan Stanley increased its position in RE/MAX by 63.9% in the third quarter. Morgan Stanley now owns 231,505 shares of the financial services provider valued at $7,214,000 after buying an additional 90,261 shares in the last quarter. Institutional investors and hedge funds own 94.37% of the company’s shares.
About RE/MAX (Get a rating)
RE/MAX Holdings, Inc. operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada and internationally. The Company operates through three segments: Real Estate, Mortgages and Marketing Funds. It offers franchise real estate brokerage services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals and other investors under the Motto Mortgage brand; and mortgage processing software and services under the wemlo brand.
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