RE/MAX (NYSE:RMAX) Posts Quarterly Earnings Results, Beats Expectations By $0.22 EPS

RE/MAX (NYSE:RMAX – Get Rating) issued its quarterly earnings data on Thursday. The financial services provider reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.22, Briefing.com reports. RE/MAX had a positive return on equity of 53.58% and a negative net margin of 4.78%. The company had revenue of $91.00 million for the quarter, compared to analysts’ expectations of $90.77 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis.

Shares of RMAX stock traded down $0.89 during trading hours on Friday, reaching $23.46. 362,070 shares of the company’s stock were exchanged, compared to its average volume of 146,606. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 6.48. The stock’s 50-day moving average is $27.60 and its 200-day moving average is $29.33. RE/MAX has a fifty-two week low of $23.19 and a fifty-two week high of $37.92. The company has a market cap of $443.18 million, a price-to-earnings ratio of -27.60 and a beta of 1.40.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 25th. Stockholders of record on Wednesday, May 11th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Tuesday, May 10th. RE/MAX’s payout ratio is currently -108.23%.

(Ad)

Whether you’re looking to learn the basics of futures or are a seasoned vet looking to hone your trading skills, our Technical Analysis Guide has everything you need to succeed in today’s futures markets!

Several equities research analysts have weighed in on the company. StockNews.com assumed coverage on RE/MAX in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Keefe, Bruyette & Woods dropped their target price on RE/MAX from $37.00 to $35.00 in a research report on Monday, February 28th. Morgan Stanley dropped their target price on RE/MAX from $30.50 to $28.50 and set an “equal weight” rating for the company in a research report on Wednesday, March 9th. Jonestrading started coverage on RE/MAX in a report on Wednesday, March 2nd. They issued a “buy” rating and a $38.00 price target for the company. Finally, Zacks Investment Research upgraded RE/MAX from a “sell” rating to a “hold” rating in a report on Tuesday, March 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, RE/MAX currently has a consensus rating of “Hold” and an average price target of $34.90.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of RE/MAX by 1.9% in the 4th quarter. BlackRock Inc. now owns 3,679,385 shares of the financial services provider’s stock valued at $112,184,000 after acquiring an additional 69,991 shares during the period. State Street Corp boosted its holdings in RE/MAX by 8.0% in the fourth quarter. State Street Corp now owns 641,342 shares of the financial services provider’s stock valued at $19,555,000 after purchasing an additional 47,611 shares during the last quarter. Morgan Stanley boosted its holdings in RE/MAX by 63.9% in the third quarter. Morgan Stanley now owns 231,505 shares of the financial services provider’s stock valued at $7,214,000 after purchasing an additional 90,261 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in RE/MAX by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 213,689 shares of the financial services provider’s stock valued at $6,658,000 after purchasing an additional 5,200 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in RE/MAX by 52.7% in the fourth quarter. invesco ltd now owns 69,162 shares of the financial services provider’s stock valued at $2,109,000 after purchasing an additional 23,882 shares during the last quarter. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

About RE/MAX (Get Rating)

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.

So see

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in RE/MAX right now?

Before you consider RE/MAX, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and RE/MAX wasn’t on the list.

While RE/MAX currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here