RE/MAX (NYSE:RMAX) Releases Earnings Results, Beats Expectations By $0.04 EPS

RE/MAX (NYSE:RMAXGet Rating) announced its earnings results on Thursday. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04, Briefing.com reports. The firm had revenue of $92.17 million for the quarter, compared to analyst estimates of $92.54 million. RE/MAX had a negative net margin of 4.42% and a positive return on equity of 68.84%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. RE/MAX updated its FY 2022 guidance to EPS and its Q3 2022 guidance to EPS.

RE/MAX Stock Up 2.8 %

NYSE:RMAX traded up $0.73 during mid-day trading on Friday, hitting $26.42. 168,942 shares of the company’s stock were exchanged, compared to its average volume of 162,518. RE/MAX has a one year low of $21.48 and a one year high of $35.34. The company has a debt-to-equity ratio of 6.40, a current ratio of 1.95 and a quick ratio of 1.95. The business has a fifty day moving average price of $24.33 and a 200 day moving average price of $26.24. The company has a market cap of $509.01 million, a PE ratio of -31.83 and a beta of 1.27.

RE/MAX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Stockholders of record on Tuesday, August 16th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Monday, August 15th. RE/MAX’s payout ratio is -110.84%.

Insider Buying and Selling

In other RE/MAX news, major shareholder Adam K. Peterson acquired 40,239 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The shares were acquired at an average price of $21.94 per share, with a total value of $882,843.66. Following the completion of the purchase, the insider now directly owns 2,008,492 shares of the company’s stock, valued at approximately $44,066,314.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RE/MAX news, major shareholder Adam K. Peterson acquired 40,239 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The shares were acquired at an average price of $21.94 per share, with a total value of $882,843.66. Following the completion of the purchase, the insider now directly owns 2,008,492 shares of the company’s stock, valued at approximately $44,066,314.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Adam K. Peterson bought 20,196 shares of the firm’s stock in a transaction on Thursday, July 14th. The stock was purchased at an average cost of $23.51 per share, with a total value of $474,807.96. Following the completion of the acquisition, the insider now directly owns 2,108,805 shares of the company’s stock, valued at approximately $49,578,005.55. The disclosure for this purchase can be found here. Insiders have acquired 123,885 shares of company stock valued at $2,887,325 over the last quarter. Corporate insiders own 3.37% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RMAX. Captrust Financial Advisors raised its holdings in shares of RE/MAX by 115.0% during the first quarter. Captrust Financial Advisors now owns 1,017 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 544 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of RE/MAX by 49.9% during the first quarter. MetLife Investment Management LLC now owns 9,368 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 3,119 shares during the last quarter. Raymond James & Associates purchased a new position in shares of RE/MAX during the first quarter valued at approximately $368,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of RE/MAX by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,287 shares of the financial services provider’s stock valued at $452,000 after purchasing an additional 2,009 shares during the last quarter. Finally, Mirabella Financial Services LLP purchased a new position in shares of RE/MAX during the first quarter valued at approximately $459,000. 94.37% of the stock is owned by hedge funds and other institutional investors.

RE/MAX Company Profile

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RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company operates through three segments: Real Estate, Mortgage, and Marketing Funds. It offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand; and mortgage loan processing software and services under the wemlo brand.

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Earnings History for RE/MAX (NYSE:RMAX)

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