RE/MAX Holdings, Inc. (NYSE:RMAX) Expected to Post Quarterly Sales of $92.93 Million

Brokerages expect RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating) to post $92.93 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for RE/MAX’s earnings. The highest sales estimate is $93.36 million and the lowest is $92.50 million. RE/MAX reported sales of $77.25 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 20.3%. The company is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that RE/MAX will report full-year sales of $371.10 million for the current fiscal year, with estimates ranging from $371.00 million to $371.20 million. For the next financial year, analysts forecast that the firm will post sales of $390.10 million, with estimates ranging from $384.65 million to $397.05 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow RE/MAX.

RE/MAX (NYSE:RMAX – Get Rating) last announced its earnings results on Thursday, April 28th. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.22. The company had revenue of $91.00 million during the quarter, compared to analysts’ expectations of $90.77 million. RE/MAX had a positive return on equity of 68.84% and a negative net margin of 4.42%. RE/MAX’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS.

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Several research firms have recently weighed in on RMAX. Keefe, Bruyette & Woods decreased their price objective on RE/MAX from $37.00 to $35.00 in a report on Monday, February 28th. Zacks Investment Research upgraded RE/MAX from a “sell” rating to a “hold” rating in a research report on Saturday, April 30th. Jonestrading started coverage on RE/MAX in a report on Wednesday, March 2nd. They issued a “buy” rating and a $38.00 target price on the stock. Morgan Stanley lowered their target price on RE/MAX from $30.50 to $28.50 and set an “equal weight” rating on the stock in a report on Wednesday, March 9th. Finally, StockNews.com started coverage on RE/MAX in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, RE/MAX currently has a consensus rating of “Hold” and an average target price of $34.90.

Shares of RMAX opened at $22.96 on Monday. The stock has a 50 day moving average price of $26.33 and a 200 day moving average price of $28.65. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 6.40. The company has a market capitalization of $442.35 million, a price-to-earnings ratio of -27.66 and a beta of 1.41. RE/MAX has a 52-week low of $21.48 and a 52-week high of $35.90.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Stockholders of record on Wednesday, May 11th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 10th. This represents a $0.92 annualized dividend and a dividend yield of 4.01%. RE/MAX’s payout ratio is -110.84%.

A number of institutional investors have recently made changes to their positions in RMAX. Assenagon Asset Management SA purchased a new position in shares of RE/MAX during the fourth quarter valued at $6,958,000. KBC Group NV lifted its position in shares of RE/MAX by 36.1% during the 3rd quarter. KBC Group NV now owns 55,431 shares of the financial services provider’s stock worth $1,727,000 after purchasing an additional 14,715 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of RE/MAX by 16.6% during the 4th quarter. Victory Capital Management Inc. now owns 226,043 shares of the financial services provider’s stock worth $6,892,000 after purchasing an additional 32,175 shares during the last quarter. Tudor Investment Corp Et Al raised its holdings in RE/MAX by 72.0% in the 3rd quarter. Tudor Investment Corp Et Al now owns 25,599 shares of the financial services provider’s stock valued at $798,000 after acquiring an additional 10,713 shares in the last quarter. Finally, Virtus ETF Advisers LLC raised its holdings in RE/MAX by 23.1% in the 3rd quarter. Virtus ETF Advisers LLC now owns 48,025 shares of the financial services provider’s stock valued at $1,496,000 after acquiring an additional 8,997 shares in the last quarter. 94.37% of the stock is currently owned by hedge funds and other institutional investors.

About RE/MAX (Get Rating)

RE/MAX Holdings, Inc operates as a franchiser 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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