Zacks: Analysts Anticipate RE/MAX Holdings, Inc. (NYSE:RMAX) Will Announce Quarterly Sales of $90.35 Million

Analysts expect RE/MAX Holdings, Inc. (NYSE:RMAXGet Rating) to post $90.35 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for RE/MAX’s earnings. The highest sales estimate is $91.18 million and the lowest is $89.80 million. RE/MAX reported sales of $72.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 25%. The firm is expected to issue its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that RE/MAX will report full year sales of $372.52 million for the current financial year, with estimates ranging from $370.80 million to $375.55 million. For the next financial year, analysts forecast that the company will report sales of $388.70 million, with estimates ranging from $384.40 million to $397.05 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for RE/MAX.

RE/MAX (NYSE:RMAXGet Rating) last posted its earnings results on Wednesday, February 23rd. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $89.16 million during the quarter, compared to analysts’ expectations of $88.82 million.

RMAX has been the subject of a number of research reports. StockNews.com started coverage on RE/MAX in a research note on Thursday, March 31st. They set a “hold” rating for the company. Keefe, Bruyette & Woods reduced their price target on RE/MAX from $37.00 to $35.00 in a research report on Monday, February 28th. Zacks Investment Research raised RE/MAX from a “sell” rating to a “hold” rating in a research report on Tuesday, March 29th. Jonestrading started coverage on RE/MAX in a research report on Wednesday, March 2nd. They set a “buy” rating and a $38.00 price target for the company. Finally, Morgan Stanley reduced their price target on RE/MAX from $30.50 to $28.50 and set an “equal weight” rating for the company in a research report on Wednesday, March 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, RE/MAX has an average rating of “Hold” and a consensus price target of $34.90.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of RE/MAX by 1.9% in the 4th quarter. BlackRock Inc. now owns 3,679,385 shares of the financial services provider’s stock valued at $112,184,000 after buying an additional 69,991 shares during the last quarter. Aureus Asset Management LLC boosted its holdings in shares of RE/MAX by 15.0% in the 4th quarter. Aureus Asset Management LLC now owns 714,757 shares of the financial services provider’s stock valued at $21,793,000 after buying an additional 93,035 shares during the last quarter. State Street Corp raised its stake in RE/MAX by 8.0% in the 4th quarter. State Street Corp now owns 641,342 shares of the financial services provider’s stock valued at $19,555,000 after acquiring an additional 47,611 shares during the period. Confluence Investment Management LLC raised its stake in RE/MAX by 3.9% in the 1st quarter. Confluence Investment Management LLC now owns 597,740 shares of the financial services provider’s stock valued at $16,575,000 after acquiring an additional 22,626 shares during the period. Finally, Geode Capital Management LLC raised its stake in RE/MAX by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 405,186 shares of the financial services provider’s stock valued at $12,625,000 after acquiring an additional 8,233 shares during the period. 94.38% of the stock is owned by institutional investors.

NYSE RMAX opened at $25.28 on Tuesday. The business has a 50 day simple moving average of $27.98 and a 200 day simple moving average of $29.45. RE/MAX has a 52-week low of $24.62 and a 52-week high of $37.92. The company has a debt-to-equity ratio of 6.48, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market cap of $477.56 million, a price-to-earnings ratio of -29.74 and a beta of 1.40.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 16th. Stockholders of record on Friday, March 4th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Thursday, March 3rd. RE/MAX’s payout ratio is presently -108.23%.

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.

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