Zacks: Brokerages Expect RE/MAX Holdings, Inc. (NYSE:RMAX) Will Announce Quarterly Sales of $92.93 Million

Equities research analysts expect that RE/MAX Holdings, Inc. (NYSE:RMAXGet Rating) will post sales of $92.93 million for the current quarter, according to Zacks. Two analysts have issued estimates for RE/MAX’s earnings, with the highest sales estimate coming in at $93.36 million and the lowest estimate coming in at $92.50 million. RE/MAX reported sales of $77.25 million during the same quarter last year, which indicates a positive year over year growth rate of 20.3%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that RE/MAX will report full-year sales of $371.10 million for the current financial year, with estimates ranging from $371.00 million to $371.20 million. For the next fiscal year, analysts expect that the firm will post sales of $390.10 million, with estimates ranging from $384.65 million to $397.05 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for RE/MAX.

RE/MAX (NYSE:RMAXGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.22. The company had revenue of $91.00 million for the quarter, compared to the consensus estimate of $90.77 million. RE/MAX had a negative net margin of 4.42% and a positive return on equity of 68.84%. RE/MAX’s revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share.

RMAX has been the topic of a number of research reports. Keefe, Bruyette & Woods cut their target price on shares of RE/MAX from $37.00 to $35.00 in a research note on Monday, February 28th. Morgan Stanley cut their target price on shares of 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. StockNews.com began coverage on shares of RE/MAX in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research raised shares of RE/MAX from a “sell” rating to a “hold” rating in a report on Saturday, April 30th. Finally, Jonestrading began coverage on shares of RE/MAX in a report on Wednesday, March 2nd. They set a “buy” rating and a $38.00 price target for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.90.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Magnolia Group LLC bought a new stake in RE/MAX in the 1st quarter valued at about $23,429,000. Assenagon Asset Management S.A. bought a new stake in RE/MAX in the 4th quarter valued at about $6,958,000. Balyasny Asset Management LLC bought a new stake in RE/MAX in the 3rd quarter valued at about $5,327,000. Hotchkis & Wiley Capital Management LLC lifted its position in RE/MAX by 203.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 207,210 shares of the financial services provider’s stock valued at $6,457,000 after purchasing an additional 139,020 shares during the last quarter. Finally, Aureus Asset Management LLC lifted its position in RE/MAX by 16.2% in the 1st quarter. Aureus Asset Management LLC now owns 830,829 shares of the financial services provider’s stock valued at $23,039,000 after purchasing an additional 116,072 shares during the last quarter. 94.37% of the stock is owned by institutional investors and hedge funds.

NYSE:RMAX opened at $22.96 on Monday. The firm’s 50 day moving average is $26.33 and its two-hundred day moving average is $28.65. RE/MAX has a fifty-two week low of $21.48 and a fifty-two week high of $35.90. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 6.40. The company has a market cap of $442.35 million, a P/E ratio of -27.66 and a beta of 1.41.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 25th. Shareholders of record on Wednesday, May 11th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Tuesday, May 10th. RE/MAX’s dividend payout ratio is currently -110.84%.

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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