RE/MAX (RMAX) to Release Earnings on Thursday

October 27, 2022 Beth McCandry

RE/MAX (NYSE:RMAX – Get Rating) will be releasing its earnings data after the market closes on Thursday, November 3rd. Analysts expect RE/MAX to post earnings of $0.59 per share for the quarter. RE/MAX has set its FY 2022 guidance at EPS and its Q3 2022 guidance at EPS. Persons interested in listening to the company’s earnings conference call can do so using this link.

RE/MAX (NYSE:RMAX – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $92.17 million for the quarter, compared to analyst estimates of $92.54 million. RE/MAX had a positive return on equity of 88.21% and a negative net margin of 4.06%. The business’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. On average, analysts expect RE/MAX to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

RE/MAX stock performance

Shares of NYSE:RMAX opened at $19.02 on Thursday. The company has a debt-to-equity ratio of 7.01, a current ratio of 2.17 and a quick ratio of 2.17. The business’s 50-day moving average price is $20.86 and its 200-day moving average price is $23.24. The firm has a market capitalization of $366.44 million, a PE ratio of -23.77 and a beta of 1.30. RE/MAX has a 1 year low of $17.74 and a 1 year high of $32.75.

RE/MAX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Stockholders of record on Tuesday, August 16th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend was Monday, August 15th. RE/MAX’s dividend payout ratio is currently -115.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RMAX. Jonestrading reduced their price objective on RE/MAX from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, September 26th. StockNews.com began coverage on RE/MAX in a research report on Wednesday, October 12th. They set a “hold” rating on the stock.

Insider buying and selling

In other RE/MAX news, major shareholder Adam K. Peterson bought 40,000 shares of RE/MAX stock in a transaction on Thursday, September 29th. The shares were bought at an average price of $18.38 per share, for a total transaction of $735,200.00. Following the completion of the transaction, the insider now directly owns 2,196,195 shares of the company’s stock, valued at $40,366,064.10. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other RE/MAX news, major shareholder Adam K. Peterson bought 4,830 shares of RE/MAX stock in a transaction on Monday, October 24th. The shares were bought at an average price of $18.57 per share, for a total transaction of $89,693.10. Following the completion of the transaction, the insider now directly owns 2,219,959 shares of the company’s stock, valued at $41,224,638.63. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Adam K. Peterson bought 40,000 shares of RE/MAX stock in a transaction on Thursday, September 29th. The stock was acquired at an average price of $18.38 per share, for a total transaction of $735,200.00. Following the transaction, the insider now directly owns 2,196,195 shares of the company’s stock, valued at $40,366,064.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 80,106 shares of company stock worth $1,469,858. 3.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RE/MAX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors raised its holdings in shares of RE/MAX by 115.0% in the 1st quarter. Captrust Financial Advisors now owns 1,017 shares of the financial services provider’s stock valued at $28,000 after buying an additional 544 shares during the period. MetLife Investment Management LLC raised its holdings in shares of RE/MAX by 49.9% in the 1st quarter. MetLife Investment Management LLC now owns 9,368 shares of the financial services provider’s stock valued at $260,000 after buying an additional 3,119 shares during the period. Raymond James & Associates purchased a new stake in shares of RE/MAX in the 1st quarter valued at $368,000. AQR Capital Management LLC raised its holdings in shares of RE/MAX by 80.6% in the 2nd quarter. AQR Capital Management LLC now owns 15,336 shares of the financial services provider’s stock valued at $376,000 after buying an additional 6,843 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of RE/MAX by 3.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,357 shares of the financial services provider’s stock valued at $401,000 after buying an additional 491 shares during the period. Hedge funds and other institutional investors own 98.85% of the company’s stock.

About RE/MAX

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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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