RE/MAX Holdings Inc. (RMAX) Raised to Buy at Zacks Investment Research
RE/MAX Holdings Inc. (NYSE:RMAX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $49.00 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 12.88% from the company’s previous close.
According to Zacks, “Re/Max Holdings, Inc. is a franchisor of real estate brokerage services. Re/Max Holdings, Inc. is based in Denver, CO. “
Separately, Keefe, Bruyette & Woods upped their price objective on RE/MAX Holdings from $34.00 to $41.00 and gave the company a “market perform” rating in a report on Monday, August 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $42.67.
RE/MAX Holdings (NYSE:RMAX) opened at 43.41 on Wednesday. The company has a 50 day moving average price of $42.19 and a 200-day moving average price of $39.71. The firm has a market cap of $765.97 million, a price-to-earnings ratio of 32.23 and a beta of 0.88. RE/MAX Holdings has a 52-week low of $30.22 and a 52-week high of $44.34.
RE/MAX Holdings (NYSE:RMAX) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business earned $43.40 million during the quarter, compared to the consensus estimate of $40.31 million. RE/MAX Holdings had a return on equity of 98.41% and a net margin of 11.87%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share. Equities research analysts anticipate that RE/MAX Holdings will post $3.80 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, August 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.38%. RE/MAX Holdings’s payout ratio is 44.78%.
A number of hedge funds and other institutional investors have recently bought and sold shares of RMAX. Mason Street Advisors LLC acquired a new position in RE/MAX Holdings during the second quarter worth about $139,000. Bank of Montreal Can acquired a new position in RE/MAX Holdings during the second quarter worth about $196,000. Highland Capital Management LLC acquired a new position in RE/MAX Holdings during the second quarter worth about $202,000. 1st Global Advisors Inc. acquired a new position in RE/MAX Holdings during the second quarter worth about $205,000. Finally, Capstone Asset Management Co. acquired a new position in RE/MAX Holdings during the second quarter worth about $213,000.
RE/MAX Holdings Company Profile
RE/MAX Holdings, Inc is a franchisor of real estate brokerage services. The Company is engaged in the business of recruiting and retaining agents, and selling franchises. The Company operates in two segments: Real Estate Franchise Services and Brokerages. The Real Estate Franchise Services segment comprises the operations of its owned and independent global franchising operations, and corporate-wide professional services expenses.
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