Zacks: Analysts Anticipate Re/Max Holdings Inc (RMAX) Will Announce Quarterly Sales of $49.95 Million

Wall Street brokerages expect that Re/Max Holdings Inc (NYSE:RMAX) will report sales of $49.95 million for the current quarter, Zacks reports. Two analysts have made estimates for Re/Max’s earnings, with the highest sales estimate coming in at $50.00 million and the lowest estimate coming in at $49.90 million. Re/Max reported sales of $49.50 million in the same quarter last year, which would suggest a positive year over year growth rate of 0.9%. The company is expected to report its next earnings results on Thursday, February 28th.

On average, analysts expect that Re/Max will report full year sales of $212.69 million for the current year, with estimates ranging from $211.60 million to $214.47 million. For the next financial year, analysts forecast that the company will report sales of $223.67 million, with estimates ranging from $216.90 million to $230.38 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Re/Max.

Re/Max (NYSE:RMAX) last issued its earnings results on Thursday, November 1st. The financial services provider reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.06). The firm had revenue of $54.90 million during the quarter, compared to analysts’ expectations of $55.80 million. Re/Max had a net margin of 8.19% and a return on equity of 90.23%. Re/Max’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS.

Several equities research analysts have commented on the company. Zacks Investment Research upgraded Re/Max from a “hold” rating to a “strong-buy” rating and set a $64.00 price objective on the stock in a research report on Tuesday, July 24th. Piper Jaffray Companies restated a “buy” rating and issued a $65.00 price objective on shares of Re/Max in a research report on Friday, August 3rd. TheStreet lowered Re/Max from a “b-” rating to a “c+” rating in a research report on Friday, October 12th. Stephens lowered their price objective on Re/Max from $60.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Craig Hallum set a $50.00 price objective on Re/Max and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Re/Max presently has a consensus rating of “Hold” and an average price target of $56.50.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in Re/Max by 6.5% in the 2nd quarter. BlackRock Inc. now owns 2,432,754 shares of the financial services provider’s stock valued at $127,598,000 after purchasing an additional 148,313 shares during the last quarter. Van Berkom & Associates Inc. increased its stake in shares of Re/Max by 0.7% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,401,902 shares of the financial services provider’s stock worth $73,530,000 after acquiring an additional 9,824 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Re/Max by 7.0% in the 2nd quarter. Renaissance Technologies LLC now owns 998,100 shares of the financial services provider’s stock worth $52,350,000 after acquiring an additional 64,900 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Re/Max by 15.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 829,693 shares of the financial services provider’s stock worth $43,517,000 after acquiring an additional 110,530 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Re/Max by 40.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 688,309 shares of the financial services provider’s stock worth $30,526,000 after acquiring an additional 198,539 shares during the last quarter. 99.59% of the stock is owned by institutional investors and hedge funds.

NYSE RMAX traded up $0.30 during trading hours on Friday, reaching $34.43. The stock had a trading volume of 1,506 shares, compared to its average volume of 120,916. The firm has a market cap of $623.42 million, a P/E ratio of 18.20, a P/E/G ratio of 2.36 and a beta of 0.66. Re/Max has a 52-week low of $33.53 and a 52-week high of $61.27. The company has a quick ratio of 5.71, a current ratio of 5.51 and a debt-to-equity ratio of 3.17.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 14th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Tuesday, November 13th. Re/Max’s payout ratio is 42.78%.

About Re/Max

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. The company was founded in 1973 and is headquartered in Denver, Colorado.

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