Re/Max Holdings Inc (NYSE:RMAX) Expected to Announce Quarterly Sales of $70.64 Million

Wall Street analysts expect that Re/Max Holdings Inc (NYSE:RMAX) will announce $70.64 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Re/Max’s earnings, with the lowest sales estimate coming in at $70.00 million and the highest estimate coming in at $71.53 million. Re/Max posted sales of $54.87 million during the same quarter last year, which suggests a positive year-over-year growth rate of 28.7%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, October 31st.

According to Zacks, analysts expect that Re/Max will report full-year sales of $283.41 million for the current financial year, with estimates ranging from $280.00 million to $289.00 million. For the next year, analysts forecast that the business will report sales of $290.54 million, with estimates ranging from $284.00 million to $298.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Re/Max.

Re/Max (NYSE:RMAX) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.06. The business had revenue of $71.40 million during the quarter, compared to the consensus estimate of $72.26 million. Re/Max had a net margin of 11.03% and a return on equity of 73.12%. The company’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 earnings per share.

RMAX has been the subject of a number of analyst reports. Compass Point downgraded shares of Re/Max from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $42.00 to $31.00 in a research note on Tuesday, August 6th. ValuEngine upgraded shares of Re/Max from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded shares of Re/Max from a “hold” rating to a “sell” rating in a research note on Tuesday. Craig Hallum upgraded shares of Re/Max from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, August 21st. Finally, Stephens boosted their target price on shares of Re/Max from $31.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.67.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC boosted its stake in Re/Max by 48.1% in the first quarter. Advisory Services Network LLC now owns 1,105 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 359 shares in the last quarter. Tyers Asset Management LLC boosted its stake in Re/Max by 22.0% in the second quarter. Tyers Asset Management LLC now owns 2,576 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 464 shares in the last quarter. United Services Automobile Association boosted its stake in Re/Max by 5.3% in the second quarter. United Services Automobile Association now owns 10,586 shares of the financial services provider’s stock valued at $326,000 after acquiring an additional 530 shares in the last quarter. Elkfork Partners LLC boosted its stake in Re/Max by 22.0% in the second quarter. Elkfork Partners LLC now owns 3,542 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 638 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Re/Max by 2.5% in the second quarter. Swiss National Bank now owns 33,100 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 800 shares in the last quarter.

Shares of RMAX stock traded up $0.33 on Monday, reaching $31.96. 160,453 shares of the stock were exchanged, compared to its average volume of 190,397. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 3.07. The business’s 50 day moving average price is $28.85 and its 200 day moving average price is $32.02. The company has a market capitalization of $569.85 million, a price-to-earnings ratio of 15.82 and a beta of 1.22. Re/Max has a twelve month low of $24.67 and a twelve month high of $44.16.

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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