RE/MAX (RMAX) to Release Quarterly Earnings on Thursday
RE/MAX (NYSE:RMAX – Get Rating) will 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 registering for the company’s earnings conference call can do so using this link.
RE/MAX (NYSE:RMAX – Get Rating) last announced its earnings results on Thursday, April 28th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The firm had revenue of $91.00 million during the quarter, compared to analyst estimates of $90.77 million. RE/MAX had a positive return on equity of 68.84% and a negative net margin of 4.42%. The business’s revenue was up 25.9% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. 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%
RMAX stock opened at $24.86 on Thursday. RE/MAX has a fifty-two week low of $21.48 and a fifty-two week high of $35.34. The stock has a fifty-day moving average of $24.00 and a 200-day moving average of $26.48. The company has a debt-to-equity ratio of 6.40, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $478.95 million, a price-to-earnings ratio of -29.95 and a beta of 1.31.
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.
Insider Transactions at RE/MAX
In other news, major shareholder Adam K. Peterson purchased 4,435 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The shares were bought at an average cost of $23.62 per share, for a total transaction of $104,754.70. Following the completion of the transaction, the insider now directly owns 2,012,927 shares of the company’s stock, valued at approximately $47,545,335.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Adam K. Peterson acquired 40,239 shares of RE/MAX stock in a transaction that occurred on Thursday, June 16th. The stock was bought at an average price of $21.94 per share, for a total transaction of $882,843.66. Following the completion of the transaction, the insider now owns 2,008,492 shares in the company, valued at $44,066,314.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Adam K. Peterson purchased 4,435 shares of RE/MAX stock in a transaction on Thursday, June 23rd. The stock was bought at an average price of $23.62 per share, with a total value of $104,754.70. Following the transaction, the insider now owns 2,012,927 shares of the company’s stock, valued at $47,545,335.74. The disclosure for this purchase can be found here. In the last three months, insiders have 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 hedge funds have recently made changes to their positions in the business. Raymond James & Associates bought a new position in RE/MAX during the first quarter valued at approximately $368,000. Bank of New York Mellon Corp raised its holdings in shares of RE/MAX by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 206,357 shares of the financial services provider’s stock worth $5,724,000 after buying an additional 7,507 shares during the period. American Century Companies Inc. increased its holdings in RE/MAX by 28.6% during the 1st quarter. American Century Companies Inc. now owns 99,191 shares of the financial services provider’s stock worth $2,751,000 after purchasing an additional 22,034 shares during the period. Citigroup Inc. increased its holdings in RE/MAX by 5.5% during the 1st quarter. Citigroup Inc. now owns 18,470 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 969 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in RE/MAX by 49.9% during the 1st quarter. MetLife Investment Management LLC now owns 9,368 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 3,119 shares during the period. Institutional investors own 94.37% of the company’s stock.
RE/MAX Company Profiles
(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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