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

Analysts expect Re/Max Holdings Inc (NYSE:RMAX) to report sales of $50.27 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Re/Max’s earnings. The lowest sales estimate is $49.90 million and the highest is $50.92 million. Re/Max reported sales of $49.50 million during the same quarter last year, which suggests a positive year-over-year growth rate of 1.6%. The business is expected to announce its next earnings results after the market closes on Thursday, February 21st.

According to Zacks, analysts expect that Re/Max will report full year sales of $212.20 million for the current year, with estimates ranging from $211.60 million to $212.70 million. For the next fiscal year, analysts forecast that the firm will post sales of $219.14 million, with estimates ranging from $216.90 million to $223.68 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Re/Max.

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

RMAX has been the subject of several research reports. Zacks Investment Research downgraded shares of Re/Max from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. TheStreet downgraded shares of Re/Max from a “b-” rating to a “c+” rating in a research report on Friday, October 12th. Craig Hallum set a $50.00 target price on shares of Re/Max and gave the company a “buy” rating in a research report on Monday, November 5th. Stephens decreased their target price on shares of Re/Max from $60.00 to $41.00 and set an “equal weight” rating for the company in a research report on Monday, November 5th. Finally, Morgan Stanley upgraded shares of Re/Max from an “equal weight” rating to an “overweight” rating and set a $36.00 target price for the company in a research report on Monday, November 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Re/Max has an average rating of “Hold” and a consensus target price of $53.88.

Shares of NYSE:RMAX traded up $0.44 on Friday, hitting $37.02. 581 shares of the company were exchanged, compared to its average volume of 175,984. Re/Max has a 1-year low of $27.84 and a 1-year high of $61.27. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 3.17. The company has a market capitalization of $648.44 million, a P/E ratio of 19.79, a PEG ratio of 2.52 and a beta of 0.62.

Institutional investors have recently modified their holdings of the business. Simplex Trading LLC acquired a new position in shares of Re/Max in the third quarter worth about $107,000. GSA Capital Partners LLP acquired a new position in shares of Re/Max in the second quarter worth about $203,000. Jefferies Group LLC acquired a new position in shares of Re/Max in the third quarter worth about $247,000. Marshall Wace LLP acquired a new position in shares of Re/Max in the third quarter worth about $252,000. Finally, United Services Automobile Association raised its position in shares of Re/Max by 30.7% in the second quarter. United Services Automobile Association now owns 6,176 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 1,449 shares during the period. Institutional investors and hedge funds own 99.57% of the company’s stock.

About Re/Max

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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