BidaskClub Downgrades RE/MAX Holdings, Inc. (NYSE:RMAX) to Hold
BidaskClub cut shares of RE/MAX Holdings, Inc. (NYSE:RMAX) from a buy rating to a hold rating in a research note issued to investors on Thursday, July 27th.
RMAX has been the topic of a number of other research reports. Zacks Investment Research lowered shares of RE/MAX Holdings from a buy rating to a hold rating in a research note on Friday, May 5th. Keefe, Bruyette & Woods set a $53.00 price target on shares of RE/MAX Holdings and gave the company a hold rating in a research note on Monday, April 10th. Finally, Bank of America Corporation lowered shares of RE/MAX Holdings from a neutral rating to an underperform rating and set a $56.00 price target on the stock. in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. RE/MAX Holdings has an average rating of Hold and an average target price of $61.00.
RE/MAX Holdings (NYSE:RMAX) traded down 1.56% on Thursday, reaching $59.90. 32,510 shares of the company’s stock traded hands. The stock has a market capitalization of $1.06 billion, a PE ratio of 45.45 and a beta of 0.93. The firm’s 50-day moving average is $58.66 and its 200 day moving average is $57.18. RE/MAX Holdings has a 52-week low of $40.41 and a 52-week high of $66.10.
RE/MAX Holdings (NYSE:RMAX) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. RE/MAX Holdings had a net margin of 12.45% and a return on equity of 79.94%. The business had revenue of $48.82 million for the quarter, compared to analyst estimates of $48.29 million. During the same quarter last year, the firm earned $0.46 EPS. RE/MAX Holdings’s quarterly revenue was up 12.5% compared to the same quarter last year. Analysts forecast that RE/MAX Holdings will post $1.90 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Monday, August 14th. RE/MAX Holdings’s payout ratio is currently 54.96%.
In other news, President Geoffrey D. Lewis sold 1,200 shares of RE/MAX Holdings stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $60.00, for a total value of $72,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System acquired a new stake in RE/MAX Holdings during the fourth quarter worth about $463,000. State Street Corp increased its stake in RE/MAX Holdings by 10.9% in the fourth quarter. State Street Corp now owns 371,733 shares of the financial services provider’s stock worth $20,817,000 after buying an additional 36,406 shares during the period. Dimensional Fund Advisors LP increased its stake in RE/MAX Holdings by 18.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 548,099 shares of the financial services provider’s stock worth $30,694,000 after buying an additional 83,433 shares during the period. Teachers Advisors LLC increased its stake in RE/MAX Holdings by 5.4% in the fourth quarter. Teachers Advisors LLC now owns 29,462 shares of the financial services provider’s stock worth $1,650,000 after buying an additional 1,503 shares during the period. Finally, Cutler Group LP increased its stake in RE/MAX Holdings by 172.1% in the first quarter. Cutler Group LP now owns 2,076 shares of the financial services provider’s stock worth $123,000 after buying an additional 1,313 shares during the period.
About RE/MAX Holdings
RE/MAX Holdings, Inc is a franchisor in the real estate industry, franchising real estate brokerages around the world under the RE/MAX brand and mortgage brokerages within the United States under the Motto Mortgage brand. The Company is a franchised business, with all of the RE/MAX branded brokerage office locations being operated by franchisees, including RE/MAX, LLC, which owns the RE/MAX brand, and sells franchises and franchising rights; Independent Regional Franchise Owner, which owns rights to sell brokerage franchises in a specified region; Franchisee (or Broker-Owner), which operates a RE/MAX-branded brokerage office, lists properties and recruits agents, and Agent (or Sales Associate), including branded independent contractors operating out of local franchise brokerage offices.
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