RE/MAX (NYSE:RMAX) Posts Earnings Results, Beats Estimates By $0.04 EPS

RE/MAX (NYSE:RMAX – Get Rating) announced its quarterly earnings data on Thursday. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04, Briefing.com reports. The firm had revenue of $92.17 million during the quarter, compared to analysts’ expectations of $92.54 million. RE/MAX had a negative net margin of 4.42% and a positive return on equity of 68.84%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 earnings per share. RE/MAX updated its FY 2022 guidance to EPS and its Q3 2022 guidance to EPS.

RE/MAX Stock Up 2.8%

Shares of RMAX stock traded up $0.73 during trading on Friday, reaching $26.42. The company’s stock had a trading volume of 169,208 shares, compared to its average volume of 162,518. The company has a debt-to-equity ratio of 6.40, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $509.01 million, a price-to-earnings ratio of -31.82 and a beta of 1.27. The stock’s 50-day moving average price is $24.33 and its 200-day moving average price is $26.24. RE/MAX has a 1-year low of $21.48 and a 1-year high of $35.34.

RE/MAX Announces Dividend

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Tuesday, August 16th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Monday, August 15th. RE/MAX’s dividend payout ratio (DPR) is currently -110.84%.

Insider Activity at RE/MAX

In other RE/MAX news, major shareholder Adam K. Peterson acquired 4,435 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The stock was purchased at an average price of $23.62 per share, for a total transaction of $104,754.70. Following the completion of the acquisition, the insider now owns 2,012,927 shares of the company’s stock, valued at approximately $47,545,335.74. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Adam K. Peterson purchased 4,435 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The stock was bought at an average price of $23.62 per share, for a total transaction of $104,754.70. Following the completion of the purchase, the insider now directly owns 2,012,927 shares of the company’s stock, valued at $47,545,335.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Adam K. Peterson purchased 40,239 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The stock was purchased at an average price of $21.94 per share, with a total value of $882,843.66. Following the purchase, the insider now directly owns 2,008,492 shares of the company’s stock, valued at $44,066,314.48. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 123,885 shares of company stock worth $2,887,325. Corporate insiders own 3.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of RE/MAX by 0.6% during the 1st quarter. BlackRock Inc. now owns 3,702,826 shares of the financial services provider’s stock worth $102,679,000 after buying an additional 23,441 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of RE/MAX by 5.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,089,000 shares of the financial services provider’s stock worth $30,198,000 after buying an additional 54,500 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of RE/MAX by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 932,178 shares of the financial services provider’s stock worth $25,850,000 after buying an additional 35,523 shares during the last quarter. State Street Corp lifted its position in shares of RE/MAX by 2.3% during the 1st quarter. State Street Corp now owns 655,888 shares of the financial services provider’s stock worth $18,188,000 after buying an additional 14,546 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of RE/MAX by 3.8% during the 1st 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 last quarter. Hedge funds and other institutional investors own 94.37% of the company’s stock.

RE/MAX Company Profiles

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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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