RE/MAX (NYSE:RMAX) Posts Earnings Results, Beats Expectations By $0.02 EPS

RE/MAX (NYSE:RMAX) announced its quarterly earnings data on Thursday. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02, FiscalAI reports. The company had revenue of $71.14 million for the quarter, compared to analysts’ expectations of $71.33 million. RE/MAX had a negative return on equity of 61.21% and a net margin of 4.27%.

RE/MAX Stock Performance

RMAX traded up $0.11 during trading on Thursday, reaching $6.94. 302,622 shares of the stock were exchanged, compared to its average volume of 182,738. RE/MAX has a twelve month low of $6.74 and a twelve month high of $10.46. The stock has a market cap of $139.20 million, a P/E ratio of 11.38 and a beta of 1.25. The stock’s 50 day moving average price is $7.69 and its two-hundred day moving average price is $8.30.

Analysts Set New Price Targets

A number of research firms recently weighed in on RMAX. Wall Street Zen raised RE/MAX from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of RE/MAX in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, RE/MAX currently has an average rating of “Reduce” and a consensus price target of $9.00.

Institutional Trading of RE/MAX

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd bought a new stake in RE/MAX in the 1st quarter valued at about $129,000. Empowered Funds LLC raised its stake in shares of RE/MAX by 7.1% during the 1st quarter. Empowered Funds LLC now owns 124,913 shares of the financial services provider’s stock worth $1,046,000 after purchasing an additional 8,318 shares during the period. Jane Street Group LLC raised its stake in shares of RE/MAX by 388.7% in the first quarter. Jane Street Group LLC now owns 57,213 shares of the financial services provider’s stock valued at $479,000 after buying an additional 45,506 shares during the period. Strs Ohio bought a new stake in RE/MAX in the 1st quarter valued at about $30,000. Finally, Geode Capital Management LLC lifted its stake in shares of RE/MAX by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 437,340 shares of the financial services provider’s stock valued at $3,578,000 after buying an additional 11,760 shares in the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.

About RE/MAX

RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.

Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.