Zacks Investment Research upgraded shares of RE/MAX Holdings, Inc. (NYSE:RMAX) from a hold rating to a buy rating in a report published on Wednesday. The brokerage currently has $69.00 target price on the financial services provider’s stock.
According to Zacks, “Re/Max Holdings, Inc. is a franchisor of real estate brokerage services. Re/Max Holdings, Inc. is based in Denver, CO. “
Several other equities research analysts also recently issued reports on the stock. BidaskClub upgraded shares of RE/MAX Holdings from a hold rating to a buy rating in a research note on Saturday, July 1st. Bank of America Corporation downgraded shares of RE/MAX Holdings from a neutral rating to an underperform rating and set a $56.00 price objective on the stock. in a research note on Friday, June 30th. Finally, Stephens downgraded shares of RE/MAX Holdings from an overweight rating to an equal weight rating and set a $66.00 price objective on the stock. in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $61.00.
RE/MAX Holdings (NYSE RMAX) traded down 1.23% during mid-day trading on Wednesday, reaching $60.15. 114,089 shares of the company traded hands. RE/MAX Holdings has a 52-week low of $40.41 and a 52-week high of $66.10. The stock has a 50 day moving average price of $58.31 and a 200-day moving average price of $57.04. The company has a market capitalization of $1.06 billion, a P/E ratio of 45.64 and a beta of 0.93.
RE/MAX Holdings (NYSE:RMAX) last announced its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. The business had revenue of $48.82 million for the quarter, compared to the consensus estimate of $48.29 million. RE/MAX Holdings had a net margin of 12.45% and a return on equity of 79.94%. RE/MAX Holdings’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company posted $0.46 earnings per share. Analysts expect that RE/MAX Holdings will post $1.90 EPS for the current fiscal year.
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The firm 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 dividend of $0.18 per share. The ex-dividend date is Monday, August 14th. This represents a $0.72 dividend on an annualized basis and a yield of 1.20%. RE/MAX Holdings’s dividend payout ratio is currently 54.96%.
In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of RE/MAX Holdings stock in a transaction on Friday, August 4th. The shares were sold at an average price of $60.00, for a total transaction of $72,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.58% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of RMAX. 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 in the last quarter. 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 in the last quarter. Bank of Montreal Can increased its stake in RE/MAX Holdings by 108.2% in the first quarter. Bank of Montreal Can now owns 9,980 shares of the financial services provider’s stock worth $593,000 after buying an additional 5,187 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in RE/MAX Holdings by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 7,200 shares of the financial services provider’s stock worth $428,000 after buying an additional 100 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in RE/MAX Holdings by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 1,950 shares of the financial services provider’s stock worth $115,000 after buying an additional 40 shares in the last quarter.
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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