RE/MAX Holdings, Inc. (RMAX) Expected to Announce Quarterly Sales of $49.66 Million
Wall Street brokerages predict that RE/MAX Holdings, Inc. (NYSE:RMAX) will report $49.66 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for RE/MAX Holdings’ earnings. The highest sales estimate is $51.32 million and the lowest is $48.00 million. RE/MAX Holdings posted sales of $45.56 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9%. The firm is scheduled to issue its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that RE/MAX Holdings will report full-year sales of $49.66 million for the current year, with estimates ranging from $191.70 million to $197.39 million. For the next year, analysts expect that the company will post sales of $208.64 million per share, with estimates ranging from $205.91 million to $210.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover RE/MAX Holdings.
RE/MAX Holdings (NYSE:RMAX) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. The business had revenue of $48.82 million during the quarter, compared to analyst estimates of $48.29 million. RE/MAX Holdings had a return on equity of 79.94% and a net margin of 12.45%. RE/MAX Holdings’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share.
Several research firms recently weighed in on RMAX. Stephens cut RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 price target for the company. in a report on Monday, August 7th. Zacks Investment Research cut RE/MAX Holdings from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Bank of America Corporation cut RE/MAX Holdings from a “neutral” rating to an “underperform” rating and set a $56.00 price target for the company. in a report on Friday, June 30th. BidaskClub cut RE/MAX Holdings from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 17th. Finally, Craig Hallum began coverage on RE/MAX Holdings in a report on Wednesday. They set a “buy” rating and a $75.00 price target for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $63.80.
ILLEGAL ACTIVITY WARNING: This story was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another site, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/09/02/remax-holdings-inc-rmax-expected-to-announce-quarterly-sales-of-49-66-million.html.
In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of RE/MAX Holdings stock in a transaction on Friday, August 4th. The stock was sold at an average price of $60.00, for a total value of $72,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in RMAX. State of Alaska Department of Revenue boosted its position in shares of RE/MAX Holdings by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 1,950 shares of the financial services provider’s stock valued at $115,000 after buying an additional 40 shares in the last quarter. Suntrust Banks Inc. boosted its position in shares of RE/MAX Holdings by 0.5% in the second quarter. Suntrust Banks Inc. now owns 8,606 shares of the financial services provider’s stock valued at $481,000 after buying an additional 45 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of RE/MAX Holdings by 1.1% in the first quarter. Municipal Employees Retirement System of Michigan now owns 5,680 shares of the financial services provider’s stock valued at $338,000 after buying an additional 60 shares in the last quarter. Stifel Financial Corp boosted its position in shares of RE/MAX Holdings by 0.3% in the second quarter. Stifel Financial Corp now owns 23,419 shares of the financial services provider’s stock valued at $1,313,000 after buying an additional 61 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of RE/MAX Holdings by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 7,200 shares of the financial services provider’s stock valued at $428,000 after buying an additional 100 shares in the last quarter.
RE/MAX Holdings (NYSE:RMAX) opened at 63.30 on Friday. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 48.03 and a beta of 0.93. The company has a 50 day moving average price of $59.67 and a 200-day moving average price of $57.45. RE/MAX Holdings has a 52 week low of $40.99 and a 52 week high of $66.10.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.72 annualized dividend and a yield of 1.14%. RE/MAX Holdings’s payout ratio is currently 54.96%.
RE/MAX Holdings Company Profile
RE/MAX Holdings, Inc is a franchisor in the real estate industry, franchising real estate brokerages around the world under the RE/MAX brand and mortgage brokerages within the United States under the Motto Mortgage brand. The Company is a franchised business, with all of the RE/MAX branded brokerage office locations being operated by franchisees, including RE/MAX, LLC, which owns the RE/MAX brand, and sells franchises and franchising rights; Independent Regional Franchise Owner, which owns rights to sell brokerage franchises in a specified region; Franchisee (or Broker-Owner), which operates a RE/MAX-branded brokerage office, lists properties and recruits agents, and Agent (or Sales Associate), including branded independent contractors operating out of local franchise brokerage offices.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for RE/MAX Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RE/MAX Holdings Inc. and related stocks with our FREE daily email newsletter.