RE/MAX (RMAX) Set to Announce Quarterly Earnings on Thursday

RE/MAX (NYSE:RMAX) will be announcing its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.17 per share for the quarter. RE/MAX has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

RE/MAX (NYSE:RMAX) last released its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $76.60 million during the quarter, compared to analyst estimates of $77.19 million. RE/MAX had a negative return on equity of 116.18% and a negative net margin of 21.19%. On average, analysts expect RE/MAX to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

RE/MAX Price Performance

Shares of NYSE RMAX opened at $7.02 on Wednesday. The stock has a market capitalization of $128.33 million, a price-to-earnings ratio of -1.84 and a beta of 1.40. The firm’s 50 day simple moving average is $7.98 and its 200-day simple moving average is $9.81. RE/MAX has a 12 month low of $6.94 and a 12 month high of $20.48.

Insider Buying and Selling

In other news, EVP Abigail C. Lee sold 4,500 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total value of $38,295.00. Following the sale, the executive vice president now directly owns 89,229 shares in the company, valued at $759,338.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Adam K. Peterson purchased 54,000 shares of RE/MAX stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average cost of $7.64 per share, with a total value of $412,560.00. Following the completion of the transaction, the insider now directly owns 3,037,843 shares in the company, valued at $23,209,120.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Abigail C. Lee sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total value of $38,295.00. Following the transaction, the executive vice president now directly owns 89,229 shares in the company, valued at approximately $759,338.79. The disclosure for this sale can be found here. 5.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RMAX. Jonestrading reaffirmed a “hold” rating on shares of RE/MAX in a research note on Friday, March 1st. Keefe, Bruyette & Woods reduced their price objective on RE/MAX from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, February 28th. StockNews.com lowered shares of RE/MAX from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Morgan Stanley cut their price objective on shares of RE/MAX from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, RE/MAX currently has an average rating of “Hold” and a consensus target price of $14.00.

RE/MAX Company Profile

RE/MAX Holdings, Inc operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. It operates through Real Estate, Mortgage, and Marketing Funds segments. The company offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand; and mortgage loan processing software and services under the wemlo brand.