Re/Max (NYSE:RMAX) had its price objective cut by Stephens from $60.00 to $41.00 in a research note issued to investors on Monday morning, The Fly reports. They currently have an equal weight rating on the financial services provider’s stock.
RMAX has been the subject of several other reports. Zacks Investment Research lowered Re/Max from a hold rating to a sell rating in a research note on Saturday, September 22nd. Craig Hallum set a $50.00 price objective on Re/Max and gave the stock a buy rating in a research note on Monday. TheStreet lowered Re/Max from a b- rating to a c+ rating in a research note on Friday, October 12th. Finally, Piper Jaffray Companies restated a buy rating and issued a $65.00 price objective on shares of Re/Max in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $56.50.
RMAX traded down $0.49 during mid-day trading on Monday, reaching $33.91. 2,208 shares of the company traded hands, compared to its average volume of 120,916. The firm has a market cap of $623.42 million, a PE ratio of 18.27, a P/E/G ratio of 2.36 and a beta of 0.66. The company has a current ratio of 5.51, a quick ratio of 5.71 and a debt-to-equity ratio of 3.17. Re/Max has a 52-week low of $33.81 and a 52-week high of $61.27.
Re/Max (NYSE:RMAX) last announced its earnings results on Thursday, November 1st. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The company had revenue of $54.90 million for the quarter, compared to analysts’ expectations of $55.80 million. Re/Max had a net margin of 8.19% and a return on equity of 90.23%. Re/Max’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. As a group, research analysts forecast that Re/Max will post 2.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 14th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.36%. Re/Max’s dividend payout ratio (DPR) is 42.78%.
Several large investors have recently bought and sold shares of RMAX. BlackRock Inc. increased its stake in shares of Re/Max by 6.5% in the 2nd quarter. BlackRock Inc. now owns 2,432,754 shares of the financial services provider’s stock worth $127,598,000 after purchasing an additional 148,313 shares in the last quarter. TD Asset Management Inc. increased its stake in Re/Max by 557.1% in the 2nd quarter. TD Asset Management Inc. now owns 147,342 shares of the financial services provider’s stock worth $7,728,000 after buying an additional 124,920 shares in the last quarter. WINTON GROUP Ltd increased its stake in Re/Max by 1,022.3% in the 2nd quarter. WINTON GROUP Ltd now owns 121,576 shares of the financial services provider’s stock worth $6,377,000 after buying an additional 110,743 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Re/Max by 15.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 829,693 shares of the financial services provider’s stock worth $43,517,000 after buying an additional 110,530 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Re/Max by 7.0% in the 2nd quarter. Renaissance Technologies LLC now owns 998,100 shares of the financial services provider’s stock worth $52,350,000 after buying an additional 64,900 shares in the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.
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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