RE/MAX Holdings, Inc. (RMAX) Given Buy Rating at Piper Jaffray Companies
Piper Jaffray Companies reiterated their buy rating on shares of RE/MAX Holdings, Inc. (NYSE:RMAX) in a research report released on Wednesday. Piper Jaffray Companies currently has a $69.00 target price on the financial services provider’s stock.
A number of other equities research analysts also recently weighed in on the company. BidaskClub downgraded RE/MAX Holdings from a strong-buy rating to a buy rating in a research report on Wednesday. Zacks Investment Research downgraded RE/MAX Holdings from a hold rating to a sell rating in a research report on Thursday, October 5th. Craig Hallum assumed coverage on RE/MAX Holdings in a research report on Wednesday, August 30th. They issued a buy rating and a $75.00 target price for the company. Finally, Stephens downgraded RE/MAX Holdings from an overweight rating to an equal weight rating and set a $66.00 target price for the company. in a research report on Monday, August 7th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $64.67.
RE/MAX Holdings (NYSE:RMAX) last released its earnings results on Thursday, August 3rd. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. The firm had revenue of $48.82 million during the quarter, compared to the consensus estimate of $48.29 million. RE/MAX Holdings had a return on equity of 79.94% and a net margin of 12.45%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 earnings per share.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.72 annualized dividend and a dividend yield of 1.08%. RE/MAX Holdings’s dividend payout ratio is currently 54.96%.
In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of the company’s stock in a transaction 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 legal filing with the SEC, which is accessible through this link. 0.58% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Suntrust Banks Inc. raised its stake in RE/MAX Holdings by 0.5% during the 2nd quarter. Suntrust Banks Inc. now owns 8,606 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 45 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in RE/MAX Holdings by 1.1% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 5,680 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 60 shares during the period. Stifel Financial Corp raised its stake in RE/MAX Holdings by 0.3% during the 2nd quarter. Stifel Financial Corp now owns 23,419 shares of the financial services provider’s stock valued at $1,313,000 after purchasing an additional 61 shares during the period. Texas Permanent School Fund raised its stake in RE/MAX Holdings by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 12,921 shares of the financial services provider’s stock valued at $724,000 after purchasing an additional 140 shares during the period. Finally, Prudential Financial Inc. raised its stake in RE/MAX Holdings by 0.6% during the 1st quarter. Prudential Financial Inc. now owns 32,530 shares of the financial services provider’s stock valued at $1,934,000 after purchasing an additional 200 shares during the period.
RE/MAX Holdings Company Profile
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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