RE/MAX (NYSE:RMAX) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

RE/MAX (NYSE:RMAXGet Rating) issued its quarterly earnings results on Thursday. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04, Briefing.com reports. RE/MAX had a negative net margin of 4.42% and a positive return on equity of 68.84%. The company had revenue of $92.17 million during the quarter, compared to the consensus estimate of $92.54 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. RE/MAX updated its FY 2022 guidance to EPS and its Q3 2022 guidance to EPS.

RE/MAX Stock Up 2.8 %

RMAX stock traded up $0.73 during midday trading on Friday, reaching $26.42. 168,942 shares of the company were exchanged, compared to its average volume of 162,518. The company has a debt-to-equity ratio of 6.40, a quick ratio of 1.95 and a current ratio of 1.95. RE/MAX has a 1-year low of $21.48 and a 1-year high of $35.34. The stock’s 50-day simple moving average is $24.33 and its 200 day simple moving average is $26.24. The company has a market cap of $509.01 million, a price-to-earnings ratio of -31.83 and a beta of 1.27.

RE/MAX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 30th. Shareholders of record on Tuesday, August 16th will be issued a dividend of $0.23 per share. The ex-dividend date is Monday, August 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.48%. RE/MAX’s payout ratio is currently -110.84%.

Insiders Place Their Bets

In related news, major shareholder Adam K. Peterson acquired 40,239 shares of the business’s stock in a transaction on Thursday, June 16th. The shares were bought at an average price of $21.94 per share, with a total value of $882,843.66. Following the completion of the acquisition, the insider now owns 2,008,492 shares in the company, valued at $44,066,314.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other RE/MAX news, major shareholder Adam K. Peterson bought 40,239 shares of the business’s stock in a transaction dated Thursday, June 16th. The shares were acquired at an average cost of $21.94 per share, with a total value of $882,843.66. Following the acquisition, the insider now directly owns 2,008,492 shares of the company’s stock, valued at approximately $44,066,314.48. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Adam K. Peterson bought 22,515 shares of the business’s stock in a transaction dated Tuesday, June 28th. The stock was acquired at an average cost of $23.90 per share, for a total transaction of $538,108.50. Following the completion of the acquisition, the insider now directly owns 2,064,109 shares in the company, valued at $49,332,205.10. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 123,885 shares of company stock valued at $2,887,325. 3.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RE/MAX

Several institutional investors have recently bought and sold shares of RMAX. Captrust Financial Advisors boosted its position in shares of RE/MAX by 115.0% during the 1st quarter. Captrust Financial Advisors now owns 1,017 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 544 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of RE/MAX by 49.9% during the 1st quarter. MetLife Investment Management LLC now owns 9,368 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 3,119 shares in the last quarter. Raymond James & Associates purchased a new stake in shares of RE/MAX in the 1st quarter worth about $368,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of RE/MAX by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,287 shares of the financial services provider’s stock worth $452,000 after buying an additional 2,009 shares in the last quarter. Finally, Mirabella Financial Services LLP purchased a new stake in shares of RE/MAX in the 1st quarter worth about $459,000. 94.37% of the stock is owned by institutional investors and hedge funds.

About RE/MAX

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RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company operates through three segments: Real Estate, Mortgage, and Marketing Funds. It offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand; and mortgage loan processing software and services under the wemlo brand.

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Earnings History for RE/MAX (NYSE:RMAX)

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