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

RE/MAX (NYSE:RMAX) posted 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. 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 net margin of 3.04% and a negative return on equity of 88.46%.

RE/MAX Price Performance

Shares of NYSE RMAX traded up $0.59 during midday trading on Friday, reaching $11.36. The company’s stock had a trading volume of 711,915 shares, compared to its average volume of 397,681. RE/MAX has a 12-month low of $5.46 and a 12-month high of $11.81. The firm has a 50 day moving average price of $10.02 and a 200-day moving average price of $8.32. The stock has a market capitalization of $241.17 million, a P/E ratio of -27.05 and a beta of 1.82.

Institutional Trading of RE/MAX

Institutional investors and hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new position in RE/MAX in the first quarter worth $129,000. Empowered Funds LLC raised its stake in shares of RE/MAX by 7.1% during the 1st quarter. Empowered Funds LLC now owns 124,913 shares of the financial services provider’s stock worth $1,046,000 after purchasing an additional 8,318 shares during the period. Jane Street Group LLC raised its stake in shares of RE/MAX by 388.7% during the 1st quarter. Jane Street Group LLC now owns 57,213 shares of the financial services provider’s stock worth $479,000 after purchasing an additional 45,506 shares during the period. Strs Ohio purchased a new position in shares of RE/MAX in the 1st quarter worth about $30,000. Finally, Geode Capital Management LLC boosted its holdings in shares of RE/MAX by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 437,340 shares of the financial services provider’s stock worth $3,578,000 after buying an additional 11,760 shares during the last quarter. 93.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

RE/MAX Company Profile

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.