Re/Max (RMAX) Sets New 1-Year Low on Analyst Downgrade

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Shares of Re/Max Holdings Inc (NYSE:RMAX) reached a new 52-week low on Monday after Stephens lowered their price target on the stock from $60.00 to $41.00. Stephens currently has an equal weight rating on the stock. Re/Max traded as low as $33.91 and last traded at $34.28, with a volume of 1383 shares. The stock had previously closed at $35.13.

A number of other analysts have also recently weighed in on RMAX. Craig Hallum set a $50.00 price objective on shares of Re/Max and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research raised shares of Re/Max from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Re/Max in a report on Friday, August 3rd. Finally, TheStreet cut shares of Re/Max from a “b-” rating to a “c+” rating in a report on Friday, October 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Re/Max has an average rating of “Hold” and an average target price of $56.50.

A number of institutional investors have recently added to or reduced their stakes in the business. United Services Automobile Association increased its stake in Re/Max by 30.7% during the 2nd quarter. United Services Automobile Association now owns 6,176 shares of the financial services provider’s stock valued at $324,000 after buying an additional 1,449 shares during the period. Legal & General Group Plc increased its stake in Re/Max by 6.2% during the 2nd quarter. Legal & General Group Plc now owns 35,050 shares of the financial services provider’s stock valued at $1,838,000 after buying an additional 2,034 shares during the period. Wells Fargo & Company MN increased its stake in Re/Max by 1.0% during the 3rd quarter. Wells Fargo & Company MN now owns 241,922 shares of the financial services provider’s stock valued at $10,729,000 after buying an additional 2,399 shares during the period. Simplex Trading LLC acquired a new position in Re/Max during the 3rd quarter valued at about $107,000. Finally, Confluence Investment Management LLC increased its stake in Re/Max by 2.6% during the 2nd quarter. Confluence Investment Management LLC now owns 98,826 shares of the financial services provider’s stock valued at $5,183,000 after buying an additional 2,463 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

The company has a market cap of $623.42 million, a P/E ratio of 18.52, a PEG ratio of 2.36 and a beta of 0.66. The company has a current ratio of 5.51, a quick ratio of 5.71 and a debt-to-equity ratio of 3.17.

Re/Max (NYSE:RMAX) last released its earnings results on Thursday, November 1st. The financial services provider reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.06). The company had revenue of $54.90 million for the quarter, compared to analyst estimates of $55.80 million. Re/Max had a net margin of 8.19% and a return on equity of 90.23%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 EPS. As a group, research analysts anticipate that Re/Max Holdings Inc will post 2.13 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 14th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $0.80 annualized dividend and a yield of 2.31%. Re/Max’s payout ratio is 42.78%.

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Re/Max Company Profile (NYSE:RMAX)

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. The company was founded in 1973 and is headquartered in Denver, Colorado.

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