Zacks: Brokerages Expect RE/MAX Holdings, Inc. (NYSE:RMAX) Will Announce Earnings of $0.48 Per Share

Equities research analysts predict that RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating) will report earnings per share of $0.48 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for RE/MAX’s earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.47. RE/MAX posted earnings per share of $0.46 in the same quarter last year, which suggests a positive year over year growth rate of 4.3%. The company is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that RE/MAX will report full-year earnings of $2.55 per share for the current fiscal year, with EPS estimates ranging from $2.52 to $2.58. For the next year, analysts expect that the company will report earnings of $2.69 per share, with EPS estimates ranging from $2.65 to $2.75. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow RE/MAX.

RE/MAX (NYSE:RMAX – Get Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.08. RE/MAX had a positive return on equity of 53.58% and a negative net margin of 4.78%. The firm had revenue of $89.16 million for the quarter, compared to analysts’ expectations of $88.82 million.

Several brokerages recently issued reports on RMAX. Jonestrading began coverage on RE/MAX in a research note on Wednesday, March 2nd. They set a “buy” rating and a $38.00 price objective on the stock. StockNews.com began coverage on RE/MAX in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley cut their target price on RE/MAX from $30.50 to $28.50 and set an “equal weight” rating on the stock in a research note on Wednesday, March 9th. Zacks Investment Research upgraded RE/MAX from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th. Finally, Keefe, Bruyette & Woods cut their target price on RE/MAX from $37.00 to $35.00 in a research note on Monday, February 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, RE/MAX has an average rating of “Hold” and an average price target of $34.90.

Shares of RMAX opened at $25.11 on Friday. The business’s fifty day moving average price is $28.10 and its 200 day moving average price is $29.52. RE/MAX has a 12-month low of $25.06 and a 12-month high of $37.92. The stock has a market capitalization of $474.35 million, a PE ratio of -29.54 and a beta of 1.40. The company has a debt-to-equity ratio of 6.48, a current ratio of 1.81 and a quick ratio of 1.81.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 16th. Stockholders of record on Friday, March 4th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Thursday, March 3rd. RE/MAX’s dividend payout ratio (DPR) is -108.23%.

Several institutional investors and hedge funds have recently modified their holdings of RMAX. Wells Fargo & Company MN increased its holdings in shares of RE/MAX by 123.4% during the second quarter. Wells Fargo & Company MN now owns 39,236 shares of the financial services provider’s stock valued at $1,307,000 after purchasing an additional 21,669 shares during the period. Morgan Stanley increased its holdings in shares of RE/MAX by 105.8% during the second quarter. Morgan Stanley now owns 141,244 shares of the financial services provider’s stock valued at $4,708,000 after purchasing an additional 72,598 shares during the period. Maryland State Retirement & Pension System acquired a new position in shares of RE/MAX during the third quarter valued at $231,000. SG Americas Securities LLC grew its holdings in RE/MAX by 178.5% during the third quarter. SG Americas Securities LLC now owns 41,192 shares of the financial services provider’s stock worth $1,284,000 after acquiring an additional 26,400 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in RE/MAX by 34.3% during the third quarter. Victory Capital Management Inc. now owns 193,868 shares of the financial services provider’s stock worth $6,041,000 after acquiring an additional 49,551 shares during the period. 94.38% of the stock is currently owned by institutional investors.

About RE/MAX (Get Rating)

RE/MAX Holdings, Inc operates as a franchisor 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.

Read More