Re/Max (NYSE:RMAX) posted its earnings results on Thursday. The financial services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.06, Bloomberg Earnings reports. Re/Max had a return on equity of 70.42% and a net margin of 11.45%. The company had revenue of $71.40 million during the quarter, compared to the consensus estimate of $72.26 million. During the same quarter last year, the firm earned $0.62 earnings per share. The company’s revenue was up 31.5% on a year-over-year basis. Re/Max updated its FY 2019 guidance to EPS and its Q3 2019 guidance to EPS.
NYSE RMAX traded down $0.60 during trading on Friday, hitting $28.23. 569,159 shares of the company’s stock were exchanged, compared to its average volume of 248,683. The company has a debt-to-equity ratio of 3.40, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market capitalization of $516.29 million, a P/E ratio of 13.98 and a beta of 1.16. Re/Max has a fifty-two week low of $25.68 and a fifty-two week high of $51.25. The firm’s 50 day moving average price is $30.46.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Tuesday, August 13th. Re/Max’s dividend payout ratio (DPR) is presently 41.58%.
In other Re/Max news, Director Gail A. Liniger bought 122,911 shares of the stock in a transaction on Wednesday, June 5th. The stock was purchased at an average price of $30.33 per share, with a total value of $3,727,890.63. Following the completion of the purchase, the director now owns 45,169 shares in the company, valued at $1,369,975.77. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gail A. Liniger bought 45,169 shares of the stock in a transaction on Monday, June 3rd. The shares were acquired at an average cost of $30.11 per share, with a total value of $1,360,038.59. Following the purchase, the director now owns 45,169 shares of the company’s stock, valued at approximately $1,360,038.59. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 446,380 shares of company stock valued at $13,990,354. Insiders own 0.52% of the company’s stock.
A number of research firms have recently weighed in on RMAX. Craig Hallum downgraded Re/Max from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a report on Friday, May 3rd. Compass Point raised Re/Max from a “neutral” rating to a “buy” rating in a research note on Monday, July 8th. Zacks Investment Research downgraded Re/Max from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. TheStreet downgraded Re/Max from a “b-” rating to a “c+” rating in a research note on Tuesday, May 28th. Finally, ValuEngine raised Re/Max from a “strong sell” rating to a “sell” rating in a research note on Thursday. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $46.83.
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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