RE/MAX (NYSE:RMAX) Posts Earnings Results, Misses Estimates By $0.05 EPS

RE/MAX (NYSE:RMAX) issued its quarterly earnings results on Thursday. The financial services provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.05), FiscalAI reports. The company had revenue of $51.72 million during the quarter, compared to the consensus estimate of $72.80 million. RE/MAX had a negative return on equity of 88.46% and a negative net margin of 3.04%.

RE/MAX Stock Performance

RMAX traded up $0.59 during midday trading on Friday, hitting $11.36. The stock had a trading volume of 711,915 shares, compared to its average volume of 397,681. RE/MAX has a 1 year low of $5.46 and a 1 year high of $11.81. The business has a fifty day moving average of $9.99 and a 200 day moving average of $8.30. The company has a market cap of $241.17 million, a P/E ratio of 14.36 and a beta of 1.82.

Institutional Investors Weigh In On RE/MAX

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in RE/MAX by 95.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 533,201 shares of the financial services provider’s stock worth $5,028,000 after purchasing an additional 260,416 shares during the period. Geode Capital Management LLC increased its holdings in shares of RE/MAX by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 462,742 shares of the financial services provider’s stock worth $3,513,000 after buying an additional 12,372 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of RE/MAX by 166.7% in the third quarter. Russell Investments Group Ltd. now owns 398,707 shares of the financial services provider’s stock worth $3,760,000 after buying an additional 249,188 shares during the period. Nuveen LLC lifted its stake in shares of RE/MAX by 23.1% in the 4th quarter. Nuveen LLC now owns 307,771 shares of the financial services provider’s stock valued at $2,336,000 after acquiring an additional 57,760 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in RE/MAX by 6.6% during the 3rd quarter. Bridgeway Capital Management LLC now owns 283,601 shares of the financial services provider’s stock valued at $2,674,000 after acquiring an additional 17,545 shares during the period. Hedge funds and other institutional investors own 93.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on RMAX. JonesTrading raised shares of RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 price objective for the company in a report on Monday, April 27th. Weiss Ratings reissued a “sell (d)” rating on shares of RE/MAX in a research note on Friday, July 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, RE/MAX presently has an average rating of “Hold” and an average target price of $13.80.

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.