William Blair Weighs in on RE/MAX Holdings, Inc.’s FY2022 Earnings (NYSE:RMAX)

RE/MAX Holdings, Inc. (NYSE:RMAX) – Equity analysts at William Blair have raised their FY2022 EPS estimates for RE/MAX in a research note issued to investors on Tuesday, January 11. William Blair analyst S. Sheldon now forecasts the financial services firm to earn $1.79 per share for the year, up from its previous forecast of $1.78.

Several other equity analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of RE/MAX from a “hold” rating to a “buy” rating, setting a price target of $33.00 for the stock in a report Wednesday. Morgan Stanley lowered its price target for RE/MAX shares to $30.50 from $33.50 and gave the stock an “equal weight” rating in a report dated Thursday, December 9th.

Shares of RMAX stock opened at $31.09 on Thursday. The company’s 50-day moving average is $29.83 and its 200-day moving average is $31.81. The company has a debt to equity ratio of 6.78, a current ratio of 1.79 and a quick ratio of 1.79. RE/MAX has a 52-week low of $26.05 and a 52-week high of $43.85. RE/MAX (NYSE:RMAX) last released its quarterly earnings data on Monday, November 22nd. The financial services firm reported earnings per share (EPS) of $0.71 for the quarter, beating Thomson Reuters’ consensus estimate of $0.63 by $0.08. The company had revenue of $91.00 million for the quarter, compared to analyst estimates of $89.80 million. RE/MAX had a negative net margin of 5.61% and a positive return on equity of 44.19%. RE/MAX revenue increased 28.0% compared to the year-ago quarter. In the same period last year, the company posted earnings per share of $0.64.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a $34,000 new position in RE/MAX during the second quarter. PNC Financial Services Group Inc. increased its holdings of RE/MAX stock by 134.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,750 shares of the financial services provider, valued at $87,000, after purchasing an additional 1,576 shares last quarter. Federated Hermes Inc. increased its holdings of RE/MAX stock by 15.2% during the second quarter. Federated Hermes Inc. now owns 4,169 shares of the financial services provider, valued at $139,000, after purchasing an additional 549 shares last quarter. Metropolitan Life Insurance Co NY increased its holdings of RE/MAX stock by 94,733.3% during the second quarter. Metropolitan Life Insurance Co NY now owns 5,690 shares of the financial services provider, valued at $190,000, after buying another 5,684 shares last quarter. Finally, Martingale Asset Management LP acquired a new stake in RE/MAX stock valued at $209,000 during the third quarter. 92.42% of the shares are currently owned by institutional investors and hedge funds.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 1st. Shareholders of record were paid a dividend of $0.23 on Wednesday, November 17th. That equates to an annualized dividend of $0.92 and a yield of 2.96%. The ex-dividend date of this dividend was Tuesday November 16th. RE/MAX’s payout ratio is currently -97.87%.

RE/MAX Company Profile

RE/MAX Holdings, Inc, through its subsidiaries, is engaged in the provision of real estate franchise services. It operates through the following segments: Real Estate, Mortgage, Marketing Funds and Other. The real estate segment includes the operation of the Company’s owned and independent global franchised stores under the RE/MAX brand name, as well as revenue from technology and data subscriptions.

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