Analysts Expect RE/MAX Holdings, Inc. (NYSE:RMAX) Will Post Quarterly Sales of $88.90 Million
Wall Street brokers predict RE / MAX Holdings, Inc. (NYSE: RMAX) will have revenue of $ 88.90 million for the current quarter, according to Zacks Investment Research. Two analysts have estimated RE / MAX’s revenue to be between $ 88.20 million and $ 89.59 million. RE / MAX reported revenue of $ 72.45 million for the same quarter last year, indicating a positive year-over-year growth rate of 22.7%. The company is expected to release its next earnings report on Thursday, February 24th.
On average, analysts expect RE / MAX to post total annual revenue of $ 329.34 million for the current fiscal year, with estimates ranging from $ 328.80 million to $ 330.12 million. For the next fiscal year, analysts are forecasting revenues of $ 366.38 million, with estimates ranging between $ 355.96 million and $ 380.77 million. Zacks Investment Research averages based on a survey of research firms covering RE / MAX.
RE / MAX (NYSE: RMAX) last announced its quarterly results on Monday, November 22nd. The financial services company reported earnings per share (EPS) for the quarter of $ 0.71, beating the consensus estimate of $ 0.63 by $ 0.08. The company had revenue of $ 91.00 million for the quarter, compared to analyst estimates of $ 89.80 million. RE / MAX had a positive return on equity of 44.19% and a negative net margin of 5.61%. The company’s quarterly revenue increased 28.0% year over year. For the same quarter last year, the company had earnings per share of $ 0.64.
RMAX has been the subject of several recent research reports. Morgan Stanley cut its RE / MAX price target from $ 33.50 to $ 30.50 and rated the stock “equilibrium” in a report dated Thursday, December 9th. Zacks Investment Research upgraded RE / MAX from a “hold” rating to a “buy” rating and set a target price of $ 33.00 on the stock in a report on Wednesday.
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Several institutional investors and hedge funds recently changed their holdings in RMAX. Northwestern Mutual Wealth Management Co. acquired a new stake in RE / MAX for $ 34,000 in the second quarter. PNC Financial Services Group Inc. increased its position in RE / MAX by 134.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,750 shares in the financial services company valued at $ 87,000 after purchasing an additional 1,576 shares last quarter. Federated Hermes Inc. increased its position in RE / MAX by 15.2% in the second quarter. Federated Hermes Inc. now owns 4,169 shares in the financial services company valued at $ 139,000 after buying an additional 549 shares last quarter. Metropolitan Life Insurance Co NY increased its position in RE / MAX by 94,733.3% in the second quarter. Metropolitan Life Insurance Co NY now owns 5,690 shares of the financial services company valued at $ 190,000 after buying an additional 5,684 shares last quarter. Finally, Martingale Asset Management LP acquired a new stake in RE / MAX for $ 209,000 in the third quarter. 89.56% of the shares are owned by institutional investors.
Stocks of NYSE: RMAX opened at $ 31.09 on Thursday. The 50 day simple moving average is $ 29.83 and the 200 day simple moving average is $ 31.81. The company has a market cap of $ 587.32 million, a P / E of -33.07, and a beta of 1.47. The company has a debt of 6.78, a quick ratio of 1.79 and a current ratio of 1.79. RE / MAX has a 52-week low of $ 26.05 and a 52-week high of $ 43.85.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 1st. Investors registered on Wednesday, November 17th, received a dividend of $ 0.23 per share. This equates to an annual dividend of $ 0.92 and a dividend yield of 2.96%. The ex-dividend date was Tuesday, November 16th. The payout ratio of RE / MAX is -97.87%.
About RE / MAX
RE / MAX Holdings, Inc. provides real estate franchise services through its subsidiaries. It operates in the following segments: real estate, mortgage, marketing funds and other. The real estate segment comprises the operation of the company’s own independent global franchising business under the brand name RE / MAX as well as income from technology and data subscriptions.
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