Re/Max (RMAX) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Re/Max (NYSE:RMAX) from a hold rating to a sell rating in a research note released on Friday.

According to Zacks, “Re/Max Holdings, Inc. is a franchisor of real estate brokerage services. Re/Max Holdings, Inc. is based in Denver, CO. “

A number of other brokerages have also commented on RMAX. Piper Jaffray Companies restated a buy rating and set a $65.00 price target on shares of Re/Max in a research note on Friday, August 3rd. TheStreet lowered shares of Re/Max from a b- rating to a c+ rating in a research note on Friday, October 12th. Stephens decreased their price target on shares of Re/Max from $60.00 to $41.00 and set an equal weight rating for the company in a research note on Monday, November 5th. Finally, Craig Hallum set a $50.00 target price on shares of Re/Max and gave the stock a buy rating in a research note on Monday, November 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Re/Max currently has an average rating of Hold and a consensus target price of $56.50.

RMAX stock traded down $0.90 during midday trading on Friday, reaching $32.63. 144,032 shares of the company’s stock traded hands, compared to its average volume of 136,796. The firm has a market capitalization of $604.96 million, a PE ratio of 16.55, a price-to-earnings-growth ratio of 2.41 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 $32.23 and a 52 week high of $61.27.

Re/Max (NYSE:RMAX) last announced its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.06). The business had revenue of $54.90 million for the quarter, compared to the consensus estimate of $55.80 million. Re/Max had a net margin of 8.19% and a return on equity of 90.23%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 EPS. On average, equities analysts predict that Re/Max will post 2.02 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 28th. Investors of record on Wednesday, November 14th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, November 13th. Re/Max’s dividend payout ratio (DPR) is currently 42.78%.

Large investors have recently modified their holdings of the stock. Simplex Trading LLC purchased a new position in shares of Re/Max in the 3rd quarter worth about $107,000. GSA Capital Partners LLP purchased a new stake in Re/Max during the second quarter valued at about $203,000. Itau Unibanco Holding S.A. purchased a new stake in Re/Max during the second quarter valued at about $205,000. Xact Kapitalforvaltning AB purchased a new stake in Re/Max during the first quarter valued at about $222,000. Finally, Hikari Power Ltd purchased a new stake in Re/Max during the second quarter valued at about $234,000. 99.59% of the stock is currently owned by institutional investors.

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. 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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