ValuEngine Lowers Re/Max (NYSE:RMAX) to Strong Sell

ValuEngine downgraded shares of Re/Max (NYSE:RMAX) from a sell rating to a strong sell rating in a research report report published on Wednesday morning, ValuEngine reports.

Other equities analysts also recently issued reports about the stock. Craig Hallum raised shares of Re/Max from a hold rating to a buy rating and set a $35.00 price objective for the company in a research note on Wednesday, August 21st. Zacks Investment Research raised Re/Max from a hold rating to a buy rating and set a $41.00 target price on the stock in a research note on Thursday, November 7th. JMP Securities upgraded Re/Max from a market perform rating to an outperform rating and set a $40.00 price target on the stock in a report on Monday, September 16th. Finally, Compass Point downgraded Re/Max from a buy rating to a neutral rating and reduced their price target for the company from $42.00 to $31.00 in a report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $39.86.

Shares of NYSE RMAX opened at $38.90 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.28. Re/Max has a 52 week low of $24.67 and a 52 week high of $44.16. The firm’s fifty day moving average is $36.33 and its 200 day moving average is $31.17. The company has a market cap of $683.97 million, a price-to-earnings ratio of 19.26 and a beta of 1.25.

Re/Max (NYSE:RMAX) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The business had revenue of $71.54 million during the quarter, compared to analysts’ expectations of $71.36 million. Re/Max had a net margin of 10.73% and a return on equity of 60.78%. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 EPS. Equities research analysts anticipate that Re/Max will post 1.98 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Tuesday, November 12th. Re/Max’s payout ratio is 41.58%.

Several large investors have recently bought and sold shares of RMAX. Penserra Capital Management LLC grew its holdings in shares of Re/Max by 25.0% during the 3rd quarter. Penserra Capital Management LLC now owns 1,360 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 272 shares during the period. Tyers Asset Management LLC lifted its position in Re/Max by 22.0% during the second quarter. Tyers Asset Management LLC now owns 2,576 shares of the financial services provider’s stock valued at $79,000 after buying an additional 464 shares during the period. Bank of Montreal Can lifted its position in Re/Max by 51.4% during the second quarter. Bank of Montreal Can now owns 2,982 shares of the financial services provider’s stock valued at $93,000 after buying an additional 1,013 shares during the period. Elkfork Partners LLC lifted its position in Re/Max by 22.0% during the second quarter. Elkfork Partners LLC now owns 3,542 shares of the financial services provider’s stock valued at $109,000 after buying an additional 638 shares during the period. Finally, Quantamental Technologies LLC lifted its position in Re/Max by 174.9% during the second quarter. Quantamental Technologies LLC now owns 4,154 shares of the financial services provider’s stock valued at $128,000 after buying an additional 2,643 shares during the period.

Re/Max Company Profile

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. It also provides real estate technology solutions.

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Analyst Recommendations for Re/Max (NYSE:RMAX)

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