Wall Street brokerages expect Re/Max Holdings Inc (NYSE:RMAX) to report earnings of $0.38 per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Re/Max’s earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.30. Re/Max reported earnings of $0.40 per share in the same quarter last year, which indicates a negative year over year growth rate of 5%. The company is expected to announce its next quarterly earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that Re/Max will report full year earnings of $2.10 per share for the current fiscal year, with EPS estimates ranging from $2.03 to $2.16. For the next year, analysts forecast that the company will post earnings of $2.34 per share, with EPS estimates ranging from $2.29 to $2.44. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Re/Max.
Several equities analysts have recently commented on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $69.00 price objective on shares of Re/Max in a report on Wednesday, November 1st. BidaskClub lowered shares of Re/Max from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 1st. TheStreet lowered shares of Re/Max from a “b” rating to a “c-” rating in a report on Friday. Stephens restated a “hold” rating and issued a $60.00 price objective on shares of Re/Max in a report on Friday. Finally, Craig Hallum set a $65.00 price objective on shares of Re/Max and gave the stock a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $59.25.
Shares of Re/Max (NYSE:RMAX) traded up $0.35 during midday trading on Tuesday, reaching $55.55. 148,533 shares of the company traded hands, compared to its average volume of 150,037. Re/Max has a one year low of $43.85 and a one year high of $67.50. The company has a debt-to-equity ratio of 3.30, a current ratio of 4.54 and a quick ratio of 10.83.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, March 6th. This is a positive change from Re/Max’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.44%.
A number of institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its holdings in Re/Max by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,713 shares of the financial services provider’s stock worth $768,000 after buying an additional 276 shares in the last quarter. Northern Trust Corp lifted its holdings in Re/Max by 0.4% during the 2nd quarter. Northern Trust Corp now owns 223,028 shares of the financial services provider’s stock worth $12,501,000 after buying an additional 805 shares in the last quarter. TD Asset Management Inc. lifted its holdings in Re/Max by 7.1% during the 3rd quarter. TD Asset Management Inc. now owns 15,100 shares of the financial services provider’s stock worth $960,000 after buying an additional 1,000 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Re/Max by 12.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 9,204 shares of the financial services provider’s stock worth $585,000 after buying an additional 1,038 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Re/Max by 15.9% during the 3rd quarter. California Public Employees Retirement System now owns 8,230 shares of the financial services provider’s stock worth $523,000 after buying an additional 1,130 shares in the last quarter.
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RE/MAX Holdings, Inc is a franchisor in the real estate industry, franchising real estate brokerages around the world under the RE/MAX brand and mortgage brokerages within the United States under the Motto Mortgage brand. The Company is a franchised business, with all of the RE/MAX branded brokerage office locations being operated by franchisees, including RE/MAX, LLC, which owns the RE/MAX brand, and sells franchises and franchising rights; Independent Regional Franchise Owner, which owns rights to sell brokerage franchises in a specified region; Franchisee (or Broker-Owner), which operates a RE/MAX-branded brokerage office, lists properties and recruits agents, and Agent (or Sales Associate), including branded independent contractors operating out of local franchise brokerage offices.
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