RE/MAX Holdings, Inc. (NYSE:RMAX) Expected to Post Quarterly Sales of $76.05 Million

Wall Street analysts forecast that RE/MAX Holdings, Inc. (NYSE:RMAX) will report $76.05 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for RE/MAX’s earnings. The highest sales estimate is $76.10 million and the lowest is $76.00 million. RE/MAX posted sales of $52.21 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 45.7%. The firm is expected to issue its next earnings results on Thursday, August 5th.

According to Zacks, analysts expect that RE/MAX will report full year sales of $308.81 million for the current year, with estimates ranging from $300.06 million to $321.47 million. For the next financial year, analysts forecast that the business will report sales of $333.25 million, with estimates ranging from $308.58 million to $373.96 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow RE/MAX.

RE/MAX (NYSE:RMAX) last issued its earnings results on Thursday, May 6th. The financial services provider reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. RE/MAX had a net margin of 3.52% and a return on equity of 37.07%. The company had revenue of $72.30 million for the quarter, compared to analyst estimates of $74.03 million. During the same period in the prior year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year.

Several brokerages have weighed in on RMAX. Zacks Investment Research lowered shares of RE/MAX from a “hold” rating to a “sell” rating in a research report on Friday, March 5th. Compass Point lowered shares of RE/MAX from a “buy” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research report on Monday, March 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. RE/MAX currently has an average rating of “Hold” and a consensus price target of $40.00.

Hedge funds have recently modified their holdings of the company. Federated Hermes Inc. purchased a new position in shares of RE/MAX in the 4th quarter valued at $40,000. Veriti Management LLC purchased a new position in shares of RE/MAX in the 4th quarter valued at $42,000. Vantage Consulting Group Inc purchased a new stake in RE/MAX during the 4th quarter worth $48,000. Quantbot Technologies LP increased its stake in RE/MAX by 180.7% during the 1st quarter. Quantbot Technologies LP now owns 1,684 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,084 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in RE/MAX during the 4th quarter worth $160,000. 92.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of RMAX opened at $34.51 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.93. The business’s 50-day moving average is $36.61. RE/MAX has a twelve month low of $29.40 and a twelve month high of $43.85. The firm has a market capitalization of $641.06 million, a price-to-earnings ratio of 67.67 and a beta of 1.50.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 2nd. Investors of record on Wednesday, May 19th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 18th. This represents a $0.92 dividend on an annualized basis and a yield of 2.67%. RE/MAX’s dividend payout ratio (DPR) is currently 62.59%.

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. It operates through three segments: Real Estate, Mortgage, and Marketing Funds. The company offers its real estate franchise services under the RE/MAX brand; and mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand.

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