RE/MAX (RMAX) Set to Announce Quarterly Earnings on Thursday

RE/MAX (NYSE:RMAX – Get Rating) is scheduled to post its quarterly earnings results after the market closes on Thursday, August 4th. Analysts expect RE/MAX to post earnings of $0.64 per share for the quarter. Individuals interested in participating in the company’s earnings conference call can do so using this link.

RE/MAX (NYSE:RMAX – Get Rating) last issued its earnings results on Thursday, April 28th. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.29 by $0.08. RE/MAX had a positive return on equity of 68.84% and a negative net margin of 4.42%. The business had revenue of $91.00 million during the quarter, compared to the consensus estimate of $90.77 million. During the same quarter last year, the company earned $0.18 EPS. The firm’s revenue was up 25.9% compared to the same quarter last year. On average, analysts expect RE/MAX to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

RE/MAX Stock Up 1.5%

Shares of NYSE RMAX opened at $24.86 on Thursday. The company has a market cap of $478.95 million, a P/E ratio of -29.95 and a beta of 1.31. 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 business has a 50-day simple moving average of $24.00 and a two-hundred day simple moving average of $26.48. RE/MAX has a 52 week low of $21.48 and a 52 week high of $35.34.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on RE/MAX in a research report on Thursday, March 31st. They set a “hold” rating for the company.

Insiders Activity

In other RE/MAX news, major shareholder Adam K. Peterson purchased 4,435 shares of the company’s stock in a transaction dated Thursday, June 23rd. The stock was purchased at an average price of $23.62 per share, for a total transaction of $104,754.70. Following the transaction, the insider now owns 2,012,927 shares in the company, valued at approximately $47,545,335.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Adam K. Peterson acquired 4,435 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The shares were bought at an average cost of $23.62 per share, with a total value of $104,754.70. Following the acquisition, the insider now owns 2,012,927 shares in the company, valued at approximately $47,545,335.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Adam K. Peterson acquired 22,515 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were purchased at an average cost of $23.90 per share, for a total transaction of $538,108.50. Following the completion of the acquisition, the insider now owns 2,064,109 shares in the company, valued at approximately $49,332,205.10. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 123,885 shares of company stock worth $2,887,325. 3.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RE/MAX

A number of large investors have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of RE/MAX by 0.6% during the 1st quarter. BlackRock Inc. now owns 3,702,826 shares of the financial services provider’s stock valued at $102,679,000 after buying an additional 23,441 shares in the last quarter. Renaissance Technologies LLC increased its stake in RE/MAX by 5.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,089,000 shares of the financial services provider’s stock worth $30,198,000 after purchasing an additional 54,500 shares during the period. Dimensional Fund Advisors LP increased its stake in RE/MAX by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 932,178 shares of the financial services provider’s stock worth $25,850,000 after purchasing an additional 35,523 shares during the period. State Street Corp increased its stake in RE/MAX by 2.3% in the 1st quarter. State Street Corp now owns 655,888 shares of the financial services provider’s stock worth $18,188,000 after purchasing an additional 14,546 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in RE/MAX by 3.8% in the 1st quarter. Bank of New York Mellon Corp now owns 206,357 shares of the financial services provider’s stock worth $5,724,000 after purchasing an additional 7,507 shares during the period. 94.37% of the stock is owned by hedge funds and other institutional investors.

About RE/MAX

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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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