Analysts Anticipate RE/MAX Holdings, Inc. (NYSE:RMAX) Will Announce Quarterly Sales of $88.95 Million
Equities analysts expect RE/MAX Holdings, Inc. (NYSE:RMAX) to report sales of $88.95 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for RE/MAX’s earnings. The highest sales estimate is $89.59 million and the lowest is $88.30 million. RE/MAX posted sales of $72.45 million in the same quarter last year, which suggests a positive year-over-year growth rate of 22.8%. The business is expected to issue its next quarterly earnings report after the market closes on Wednesday, February 23rd.
According to Zacks, analysts expect that RE/MAX will report full-year sales of $329.34 million for the current fiscal year, with estimates ranging from $328.80 million to $330.12 million. For the next year, analysts expect that the firm will post sales of $366.48 million, with estimates ranging from $355.96 million to $380.77 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow RE/MAX.
RE/MAX (NYSE:RMAX) last announced its earnings results on Monday, November 22nd. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. RE/MAX had a positive return on equity of 44.19% and a negative net margin of 5.61%. The business had revenue of $91.00 million for the quarter, compared to the consensus estimate of $89.80 million. During the same period in the previous year, the business earned $0.64 EPS. RE/MAX’s revenue was up 28.0% compared to the same quarter last year.
A number of research analysts recently issued reports on RMAX shares. Zacks Investment Research raised RE/MAX from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Wednesday, January 12th. Morgan Stanley dropped their target price on shares of RE/MAX from $33.50 to $30.50 and set an “equal weight” rating for the company in a research note on Thursday, December 9th.
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Several institutional investors have recently made changes to their positions in RMAX. Northwestern Mutual Wealth Management Co. acquired a new position in RE/MAX during the second quarter valued at approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of RE/MAX by 143.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,708 shares of the financial services provider’s stock valued at $83,000 after buying an additional 1,594 shares during the period. PNC Financial Services Group Inc. increased its position in shares of RE/MAX by 134.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,750 shares of the financial services provider’s stock valued at $87,000 after buying an additional 1,576 shares in the last quarter. Federated Hermes Inc. increased its position in shares of RE/MAX by 15.2% in the 2nd quarter. Federated Hermes Inc. now owns 4,169 shares of the financial services provider’s stock valued at $139,000 after buying an additional 549 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY raised its stake in RE/MAX by 94,733.3% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 5,690 shares of the financial services provider’s stock worth $190,000 after buying an additional 5,684 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.
Shares of RMAX stock opened at $29.85 on Wednesday. RE/MAX has a 52 week low of $26.05 and a 52 week high of $43.85. The stock has a market capitalization of $563.90 million, a PE ratio of -31.75 and a beta of 1.47. The company has a debt-to-equity ratio of 6.78, a quick ratio of 1.79 and a current ratio of 1.79. The stock’s fifty-day moving average is $29.49 and its 200-day moving average is $31.45.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 1st. Investors of record on Wednesday, November 17th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Tuesday, November 16th. RE/MAX’s dividend payout ratio (DPR) is -97.87%.
RE/MAX Company Profiles
RE/MAX Holdings, Inc engages in the provision of real estate franchise services through its subsidiaries. It operates through the following segments: Real Estate, Mortgage, Marketing Funds, and Other. The Real Estate segment includes operations of the company’s owned and independent global franchising operations under the RE/MAX brand name and technology and data subscription revenue.
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