Brokerages Anticipate RE/MAX Holdings, Inc. (NYSE:RMAX) Will Announce Earnings of $0.44 Per Share
Stock analysts predict that RE / MAX Holdings, Inc. (NYSE: RMAX) will post earnings of $ 0.44 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have released estimates for RE / MAX earnings that range between $ 0.43 and $ 0.47. RE / MAX posted earnings of $ 0.47 per share for the same quarter last year, a negative year-over-year growth rate of 6.4%. The company is expected to release its next earnings report after the market closes on Thursday, February 25th.
According to Zacks, analysts expect RE / MAX to post annual earnings of $ 1.84 per share for the current fiscal year, with EPS estimates ranging between $ 1.80 and $ 1.88. For the next year, analysts expect earnings per share of $ 2.17, with EPS estimates ranging between $ 2.08 and $ 2.30. Zacks’ average earnings per share is based on a survey of sell-side research firms covering RE / MAX.
RE / MAX (NYSE: RMAX) last released its quarterly results on Thursday, November 5th. The financial services company reported earnings per share of $ 0.64 for the quarter, beating Zacks’ consensus estimate of $ 0.60 by $ 0.04. RE / MAX had a return on equity of 44.11% and a net margin of 4.80%. The company posted revenue of $ 71.10 million for the quarter, compared to the consensus estimate of $ 70.62 million. For the same period last year, the company had earnings per share of $ 0.61. The company’s quarterly revenue declined 0.6% year over year.
A number of equity analysts have published reports on RMAX stocks. JPMorgan Chase & Co. raised RE / MAX in a research note on Monday, December 21st, from an “underweight” rating to a “neutral” rating and raised the price target for the company from USD 27.00 to USD 36.00 raised. Morgan Stanley raised its target price on RE / MAX shares from USD 37.00 to USD 40.00 and rated the company as overweight in a research report on Tuesday, January 5th. Finally, on Wednesday, Zacks Investment Research upgraded the shares of RE / MAX from a “Sell” rating to a “Hold” rating in a research report. Three analysts have given the share a hold rating and three have given it a buy rating. RE / MAX has an average “Buy” rating and an average price target of $ 37.00.
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RE / MAX stock opened at $ 38.15 on Thursday. RE / MAX has a one-year low of $ 14.40 and a one-year high of $ 40.78. The stock has a 50-day moving average of $ 37.82 and a 200-day moving average of $ 34.73. The company has a leverage ratio of 1.98, a fast rate of 2.24, and a current rate of 2.24. The stock has a market cap of $ 707.95 million, a P / E of 55.29, and a beta of 1.55.
In related news, CAO Brett A. Ritchie sold 2,670 shares in a transaction that occurred on Monday, January 25th. The shares were sold at an average price of $ 40.00 for a total value of $ 106,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this link. 2.67% of the shares are owned by insiders.
Several institutional investors and hedge funds have recently increased or decreased their stake in RMAX. PNC Financial Services Group Inc. increased its stake in RE / MAX by 40.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,133 shares in the financial services company, valued at $ 37,000, after purchasing an additional 328 shares last quarter. BNP Paribas Arbitrage SA increased its stake in RE / MAX by 342.0% in the third quarter. BNP Paribas Arbitrage SA now owns 4,513 shares in the financial services company valued at $ 148,000 after purchasing an additional 3,492 shares during the period. Strs Ohio acquired a new position in RE / MAX valued at approximately $ 163,000 in the fourth quarter. The Florida Retirement System State Board of Administration acquired a new position in RE / MAX valued at approximately $ 212,000 in the third quarter. Finally, Two Sigma Advisers LP bought a new position in RE / MAX in Q2 for approximately $ 239,000. Institutional investors own 95.47% of the company’s shares.
About RE / MAX
RE / MAX Holdings, Inc operates real estate and mortgage brokerage franchisors in the United States, Canada and internationally. The company operates in four segments: RE / MAX Franchising, Motto Franchising, Marketing Funds and Other. The company offers its real estate franchise services under the brand name RE / MAX. and Mortgage branded mortgage brokerage services.
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