Analysts Expect RE/MAX Holdings, Inc. (RMAX) Will Announce Quarterly Sales of $50.15 Million
Equities analysts predict that RE/MAX Holdings, Inc. (NYSE:RMAX) will post $50.15 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for RE/MAX Holdings’ earnings, with estimates ranging from $48.00 million to $51.32 million. RE/MAX Holdings posted sales of $45.56 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.1%. The firm is scheduled to announce its next earnings results on Thursday, November 2nd.
On average, analysts expect that RE/MAX Holdings will report full-year sales of $50.15 million for the current year, with estimates ranging from $191.70 million to $197.39 million. For the next year, analysts forecast that the firm will report sales of $208.64 million per share, with estimates ranging from $205.91 million to $210.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover RE/MAX Holdings.
RE/MAX Holdings (NYSE:RMAX) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. The firm had revenue of $48.82 million during the quarter, compared to analysts’ expectations of $48.29 million. RE/MAX Holdings had a return on equity of 79.94% and a net margin of 12.45%. RE/MAX Holdings’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business earned $0.46 earnings per share.
Several research analysts have issued reports on the company. Craig Hallum assumed coverage on RE/MAX Holdings in a report on Wednesday, August 30th. They issued a “buy” rating and a $75.00 price target on the stock. BidaskClub upgraded RE/MAX Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded RE/MAX Holdings from a “sell” rating to a “hold” rating in a report on Saturday, July 29th. Stephens lowered RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 price target on the stock. in a report on Monday, August 7th. Finally, Bank of America Corporation lowered RE/MAX Holdings from a “neutral” rating to an “underperform” rating and set a $56.00 price target on the stock. in a report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $63.80.
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Shares of RE/MAX Holdings (NYSE:RMAX) traded up 0.65% on Thursday, reaching $61.95. The company had a trading volume of 51,739 shares. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 47.00 and a beta of 0.92. The company’s 50-day moving average price is $60.65 and its 200-day moving average price is $57.59. RE/MAX Holdings has a 52-week low of $41.48 and a 52-week high of $66.10.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 16th were issued a $0.18 dividend. The ex-dividend date was Monday, August 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.16%. RE/MAX Holdings’s dividend payout ratio is presently 54.96%.
In other news, President Geoffrey D. Lewis sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $60.00, for a total value of $72,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.58% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Piedmont Investment Advisors LLC bought a new stake in RE/MAX Holdings during the second quarter worth $215,000. The Manufacturers Life Insurance Company lifted its holdings in RE/MAX Holdings by 2.1% during the second quarter. The Manufacturers Life Insurance Company now owns 13,713 shares of the financial services provider’s stock worth $768,000 after acquiring an additional 276 shares during the period. State Street Corp lifted its holdings in RE/MAX Holdings by 4.6% during the second quarter. State Street Corp now owns 419,864 shares of the financial services provider’s stock worth $23,532,000 after acquiring an additional 18,611 shares during the period. Stifel Financial Corp lifted its holdings in RE/MAX Holdings by 0.3% during the second quarter. Stifel Financial Corp now owns 23,419 shares of the financial services provider’s stock worth $1,313,000 after acquiring an additional 61 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in RE/MAX Holdings by 24.6% during the second quarter. Voya Investment Management LLC now owns 18,855 shares of the financial services provider’s stock worth $1,057,000 after acquiring an additional 3,726 shares during the period.
About RE/MAX Holdings
RE/MAX Holdings, Inc is a franchisor in the real estate industry, franchising real estate brokerages around the world under the RE/MAX brand and mortgage brokerages within the United States under the Motto Mortgage brand. The Company is a franchised business, with all of the RE/MAX branded brokerage office locations being operated by franchisees, including RE/MAX, LLC, which owns the RE/MAX brand, and sells franchises and franchising rights; Independent Regional Franchise Owner, which owns rights to sell brokerage franchises in a specified region; Franchisee (or Broker-Owner), which operates a RE/MAX-branded brokerage office, lists properties and recruits agents, and Agent (or Sales Associate), including branded independent contractors operating out of local franchise brokerage offices.
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