Re/Max (RMAX) Sets New 12-Month Low at $29.52

Shares of Re/Max Holdings Inc (NYSE:RMAX) hit a new 52-week low during trading on Friday . The stock traded as low as $29.52 and last traded at $29.45, with a volume of 2076 shares trading hands. The stock had previously closed at $30.28.

Several brokerages have recently commented on RMAX. Zacks Investment Research downgraded Re/Max from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. Craig Hallum set a $50.00 target price on Re/Max and gave the company a “buy” rating in a research note on Monday, November 5th. TheStreet downgraded Re/Max from a “b-” rating to a “c+” rating in a research note on Friday, October 12th. Stephens reduced their target price on Re/Max from $60.00 to $41.00 and set an “equal weight” rating for the company in a research note on Monday, November 5th. Finally, Morgan Stanley upgraded Re/Max from an “equal weight” rating to an “overweight” rating and set a $36.00 target price for the company in a research note on Monday, November 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $53.57.

The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 3.17. The company has a market cap of $525.81 million, a P/E ratio of 14.38, a PEG ratio of 2.10 and a beta of 0.61.

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 Thomson Reuters’ consensus estimate of $0.59 by ($0.06). The firm had revenue of $54.90 million during the quarter, compared to analyst estimates of $55.80 million. Re/Max had a net margin of 8.19% and a return on equity of 90.23%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, equities research analysts forecast that Re/Max Holdings Inc will post 2.02 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.70%. Re/Max’s dividend payout ratio is presently 42.78%.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Re/Max by 5.2% during the 3rd quarter. BlackRock Inc. now owns 2,559,945 shares of the financial services provider’s stock valued at $113,532,000 after purchasing an additional 127,191 shares during the last quarter. Vanguard Group Inc. boosted its stake in Re/Max by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,978,312 shares of the financial services provider’s stock valued at $87,738,000 after purchasing an additional 145,307 shares during the last quarter. Vanguard Group Inc boosted its stake in Re/Max by 7.9% during the 3rd quarter. Vanguard Group Inc now owns 1,978,312 shares of the financial services provider’s stock valued at $87,738,000 after purchasing an additional 145,307 shares during the last quarter. Van Berkom & Associates Inc. boosted its stake in Re/Max by 28.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,797,834 shares of the financial services provider’s stock valued at $79,734,000 after purchasing an additional 395,932 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Re/Max by 14.9% during the 3rd quarter. Renaissance Technologies LLC now owns 1,146,698 shares of the financial services provider’s stock valued at $50,856,000 after purchasing an additional 148,598 shares during the last quarter. Institutional investors and hedge funds own 99.57% of the company’s stock.

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Re/Max Company Profile (NYSE:RMAX)

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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