RE/MAX (NYSE:RMAX) Announces Earnings Results

RE/MAX (NYSE:RMAX) issued its earnings results on Thursday. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02, FiscalAI reports. RE/MAX had a net margin of 4.27% and a negative return on equity of 61.21%. The company had revenue of $71.14 million during the quarter, compared to the consensus estimate of $71.33 million.

RE/MAX Trading Up 1.6%

Shares of NYSE:RMAX traded up $0.11 during trading on Thursday, reaching $6.94. The stock had a trading volume of 302,622 shares, compared to its average volume of 182,738. The company has a market capitalization of $139.20 million, a P/E ratio of 11.38 and a beta of 1.25. The firm’s 50-day simple moving average is $7.69 and its 200 day simple moving average is $8.30. RE/MAX has a one year low of $6.74 and a one year high of $10.46.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RMAX. Weiss Ratings reissued a “sell (d)” rating on shares of RE/MAX in a research report on Wednesday, January 28th. Wall Street Zen upgraded RE/MAX from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $9.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Strs Ohio purchased a new position in shares of RE/MAX during the first quarter worth $30,000. IFC & Insurance Marketing Inc. purchased a new position in RE/MAX during the 4th quarter valued at about $76,000. Sei Investments Co. acquired a new position in RE/MAX in the 2nd quarter valued at about $86,000. Squarepoint Ops LLC purchased a new stake in RE/MAX during the third quarter worth about $127,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of RE/MAX during the second quarter worth about $110,000. 93.17% of the stock is owned by institutional investors and hedge funds.

RE/MAX Company Profile

RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.

Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.