RE/MAX (RMAX) to Release Quarterly Earnings on Thursday

RE/MAX (NYSE:RMAX) is scheduled to be issuing its quarterly earnings data 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 interested in listening to the company’s conference call can do so using this link.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $76.60 million for the quarter, compared to analysts’ expectations 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 Stock Performance

RE/MAX stock opened at $7.19 on Tuesday. RE/MAX has a fifty-two week low of $6.94 and a fifty-two week high of $20.48. The stock has a fifty day moving average of $7.98 and a two-hundred day moving average of $9.81. The company has a market capitalization of $131.43 million, a price-to-earnings ratio of -1.89 and a beta of 1.40.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

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