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

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

RE/MAX Stock Performance

RMAX stock opened at $11.36 on Friday. The firm has a market cap of $241.17 million, a P/E ratio of -27.05 and a beta of 1.82. The firm’s fifty day moving average is $10.02 and its 200 day moving average is $8.32. RE/MAX has a 52 week low of $5.46 and a 52 week high of $11.81.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Jump Financial LLC purchased a new stake in RE/MAX in the 4th quarter worth approximately $149,000. Wells Fargo & Company MN increased its stake in shares of RE/MAX by 45.9% during the fourth quarter. Wells Fargo & Company MN now owns 20,636 shares of the financial services provider’s stock valued at $157,000 after buying an additional 6,492 shares during the period. Campbell & CO Investment Adviser LLC raised its holdings in shares of RE/MAX by 7.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 25,753 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 1,796 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of RE/MAX by 96.3% during the fourth quarter. Metis Global Partners LLC now owns 24,575 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 12,059 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in RE/MAX in the third quarter worth $127,000. Hedge funds and other institutional investors own 93.17% of the company’s stock.

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.