Re/Max Holdings Inc (RMAX) Expected to Announce Quarterly Sales of $50.27 Million

Wall Street analysts predict that Re/Max Holdings Inc (NYSE:RMAX) will report sales of $50.27 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Re/Max’s earnings. The highest sales estimate is $50.92 million and the lowest is $49.90 million. Re/Max reported sales of $49.50 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.6%. The firm is scheduled to issue its next earnings report on Thursday, February 28th.

According to Zacks, analysts expect that Re/Max will report full year sales of $212.69 million for the current year, with estimates ranging from $211.60 million to $214.47 million. For the next year, analysts anticipate that the company will report sales of $220.56 million, with estimates ranging from $216.90 million to $229.38 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Re/Max.

Re/Max (NYSE:RMAX) last posted its earnings results on Thursday, November 1st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The company had revenue of $54.90 million during the quarter, compared to the consensus estimate of $55.80 million. Re/Max had a net margin of 8.19% and a return on equity of 90.23%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 earnings per share.

A number of brokerages have recently commented on RMAX. TheStreet lowered Re/Max from a “b-” rating to a “c+” rating in a report on Friday, October 12th. Zacks Investment Research lowered Re/Max from a “hold” rating to a “sell” rating in a report on Friday, November 9th. Stephens lowered their price target on Re/Max from $60.00 to $41.00 and set an “equal weight” rating on the stock in a report on Monday, November 5th. Craig Hallum set a $50.00 price target on Re/Max and gave the company a “buy” rating in a report on Monday, November 5th. Finally, Morgan Stanley raised Re/Max from an “equal weight” rating to an “overweight” rating and set a $36.00 price target on the stock in a report on Monday, November 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Re/Max currently has a consensus rating of “Hold” and a consensus target price of $53.57.

RMAX stock traded down $0.83 during mid-day trading on Tuesday, reaching $32.97. The company had a trading volume of 165,958 shares, compared to its average volume of 170,689. The company has a debt-to-equity ratio of 3.17, a quick ratio of 5.51 and a current ratio of 5.51. The stock has a market capitalization of $585.09 million, a price-to-earnings ratio of 17.63, a PEG ratio of 2.33 and a beta of 0.66. Re/Max has a one year low of $29.73 and a one year high of $61.27.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 28th. Investors of record on Wednesday, November 14th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Tuesday, November 13th. Re/Max’s payout ratio is currently 42.78%.

Large investors have recently added to or reduced their stakes in the stock. Van Berkom & Associates Inc. increased its stake in shares of Re/Max by 28.2% during the third quarter. Van Berkom & Associates Inc. now owns 1,797,834 shares of the financial services provider’s stock worth $79,734,000 after purchasing an additional 395,932 shares during the period. JPMorgan Chase & Co. increased its stake in Re/Max by 40.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 688,309 shares of the financial services provider’s stock worth $30,526,000 after acquiring an additional 198,539 shares during the period. PNC Financial Services Group Inc. increased its stake in Re/Max by 45.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 582,368 shares of the financial services provider’s stock worth $25,828,000 after acquiring an additional 182,885 shares during the period. Renaissance Technologies LLC increased its stake in Re/Max by 14.9% during the 3rd quarter. Renaissance Technologies LLC now owns 1,146,698 shares of the financial services provider’s stock worth $50,856,000 after acquiring an additional 148,598 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Re/Max by 6.5% during the 2nd quarter. BlackRock Inc. now owns 2,432,754 shares of the financial services provider’s stock valued at $127,598,000 after acquiring an additional 148,313 shares in the last quarter.

Re/Max Company Profile

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. The company was founded in 1973 and is headquartered in Denver, Colorado.

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