RE/MAX Holdings, Inc. (NYSE:RMAX) Declares $0.23 Quarterly Dividend

RE/MAX Holdings, Inc. (NYSE:RMAXGet Rating) announced a quarterly dividend on Wednesday, April 27th, Zacks reports. Shareholders of record on Wednesday, May 11th will be paid a dividend of 0.23 per share by the financial services provider on Wednesday, May 25th. This represents a $0.92 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Tuesday, May 10th.

RE/MAX has increased its dividend payment by an average of 4.8% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. RE/MAX has a dividend payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RE/MAX to earn $1.88 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 48.9%.

Shares of RMAX opened at $24.35 on Friday. The company has a debt-to-equity ratio of 6.48, a current ratio of 1.81 and a quick ratio of 1.81. RE/MAX has a 1 year low of $23.61 and a 1 year high of $37.92. The company has a 50 day simple moving average of $27.60 and a two-hundred day simple moving average of $29.33. The firm has a market cap of $460.00 million, a P/E ratio of -28.65 and a beta of 1.40.

RE/MAX (NYSE:RMAXGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.22. RE/MAX had a negative net margin of 4.78% and a positive return on equity of 53.58%. The business had revenue of $91.00 million during the quarter, compared to analyst estimates of $90.77 million. During the same period last year, the firm posted $0.18 EPS. The company’s revenue was up 25.9% on a year-over-year basis. On average, sell-side analysts anticipate that RE/MAX will post 1.75 earnings per share for the current year.

A number of equities research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of RE/MAX in a report on Thursday, March 31st. They set a “hold” rating for the company. Jonestrading initiated coverage on RE/MAX in a research report on Wednesday, March 2nd. They set a “buy” rating and a $38.00 target price for the company. Morgan Stanley lowered their target price 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. Keefe, Bruyette & Woods lowered their target price on RE/MAX from $37.00 to $35.00 in a research report on Monday, February 28th. Finally, Zacks Investment Research upgraded RE/MAX from a “sell” rating to a “hold” rating in a research report on Tuesday, March 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.90.

A number of institutional investors and hedge funds have recently modified their holdings of RMAX. Canada Pension Plan Investment Board bought a new stake in RE/MAX in the fourth quarter worth $274,000. Royal Bank of Canada lifted its position in RE/MAX by 8.0% in the third quarter. Royal Bank of Canada now owns 10,471 shares of the financial services provider’s stock worth $325,000 after buying an additional 774 shares during the last quarter. LPL Financial LLC lifted its position in RE/MAX by 3.6% in the third quarter. LPL Financial LLC now owns 10,822 shares of the financial services provider’s stock worth $337,000 after buying an additional 377 shares during the last quarter. Deutsche Bank AG lifted its position in RE/MAX by 5.7% in the fourth quarter. Deutsche Bank AG now owns 11,250 shares of the financial services provider’s stock worth $343,000 after buying an additional 604 shares during the last quarter. Finally, Citigroup Inc. lifted its position in RE/MAX by 35.2% in the fourth quarter. Citigroup Inc. now owns 17,501 shares of the financial services provider’s stock worth $534,000 after buying an additional 4,556 shares during the last quarter. Institutional investors own 94.38% of the company’s stock.

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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Dividend History for RE/MAX (NYSE:RMAX)

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