RE/MAX (NYSE:RMAX) Announces Quarterly Earnings Results
RE / MAX (NYSE: RMAX) released its results on Thursday. The financial services company reported earnings of $ 0.47 per share for the quarter, beating the consensus estimate of $ 0.33 by $ 0.14, MarketWatch Earnings reported. RE / MAX had a net margin of 4.80% and a return on equity of 44.11%. RE / MAX has updated its forecast for business hours in the first quarter of 2021 to EPS and its forecast for business hours in fiscal year 2021 to EPS.
The shares of RMAX stock traded around $ 1.60 during Friday’s trading hours to hit $ 42.37. The company had a trading volume of 6,470 shares compared to an average volume of 89,352 shares. The company’s 50-day moving average is $ 38.86 and the company’s 200-day moving average is $ 35.44. The company has a leverage ratio of 1.98, a current of 2.24, and a fast of 2.24. RE / MAX has a fifty-two week low of $ 14.40 and a fifty-two week high of $ 41.74. The stock has a market cap of $ 786.26 million, a P / E of 60.57, and a beta of 1.55.
The company recently announced a quarterly dividend, which will be paid on Wednesday, March 17th. A dividend of $ 0.23 will be paid to shareholders of record on Wednesday March 3rd. This is a positive change from RE / MAX’s previous quarterly dividend of $ 0.22. This equates to an annualized dividend of $ 0.92 and a dividend yield of 2.17%. The ex-dividend day of this dividend is Tuesday, March 2nd. The payout ratio of RE / MAX is currently 45.60%.
Several stock analysts have rated the RMAX share. Morgan Stanley raised its target price on RE / MAX shares from $ 37.00 to $ 40.00 and rated the company as overweight in a report on Tuesday, January 5th. Zacks Investment Research upgraded RE / MAX shares from a “sell” rating to a “hold” rating in a report on Wednesday, February 3rd. Finally, in a report on Monday, December 21, JPMorgan Chase & Co. upgraded RE / MAX’s stock from an “underweight” rating to a “neutral” rating and raised its price target for the company from $ 27.00 to 36.00 .00 USD raised. Three analysts have given the share a hold rating and three have given it a buy rating. The stock currently has a consensus rating of “Buy” and an average price target of $ 37.00.
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In other RE / MAX 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 transaction of $ 106,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC website. Company insiders hold 2.67% of the company’s shares.
RE / MAX company profile
RE / MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services 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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