RE/MAX (NYSE:RMAX) Releases Earnings Results, Beats Estimates By $0.04 EPS

RE/MAX (NYSE:RMAXGet Rating) announced its earnings results on Thursday. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04, Briefing.com reports. The firm had revenue of $92.17 million for the quarter, compared to the consensus estimate of $92.54 million. RE/MAX had a positive return on equity of 68.84% and a negative net margin of 4.42%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. RE/MAX updated its FY 2022 guidance to EPS and its Q3 2022 guidance to EPS.

RE/MAX Stock Performance

RMAX stock traded up $0.73 during midday trading on Friday, reaching $26.42. 168,942 shares of the company’s stock traded hands, compared to its average volume of 162,518. The company has a 50-day moving average price of $24.33 and a two-hundred day moving average price of $26.24. The company has a debt-to-equity ratio of 6.40, a quick ratio of 1.95 and a current ratio of 1.95. RE/MAX has a 52 week low of $21.48 and a 52 week high of $35.34. The firm has a market capitalization of $509.01 million, a PE ratio of -31.83 and a beta of 1.27.

RE/MAX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Shareholders of record on Tuesday, August 16th will be issued a dividend of $0.23 per share. The ex-dividend date is Monday, August 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.48%. RE/MAX’s payout ratio is -110.84%.

Insider Buying and Selling at RE/MAX

In other RE/MAX news, major shareholder Adam K. Peterson bought 40,239 shares of the stock in a transaction on Thursday, June 16th. The shares were acquired at an average price of $21.94 per share, with a total value of $882,843.66. Following the acquisition, the insider now directly owns 2,008,492 shares of the company’s stock, valued at approximately $44,066,314.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder Adam K. Peterson purchased 40,239 shares of the firm’s stock in a transaction dated Thursday, June 16th. The shares were purchased at an average price of $21.94 per share, with a total value of $882,843.66. Following the completion of the acquisition, the insider now owns 2,008,492 shares in the company, valued at approximately $44,066,314.48. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Adam K. Peterson purchased 12,000 shares of the firm’s stock in a transaction dated Monday, July 18th. The stock was purchased at an average cost of $24.37 per share, for a total transaction of $292,440.00. Following the acquisition, the insider now owns 2,120,805 shares of the company’s stock, valued at approximately $51,684,017.85. The disclosure for this purchase can be found here. Insiders have acquired 123,885 shares of company stock valued at $2,887,325 in the last 90 days. 3.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RMAX. Captrust Financial Advisors grew its position in RE/MAX by 115.0% in the first quarter. Captrust Financial Advisors now owns 1,017 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 544 shares in the last quarter. MetLife Investment Management LLC boosted its position in RE/MAX by 49.9% during the first quarter. MetLife Investment Management LLC now owns 9,368 shares of the financial services provider’s stock valued at $260,000 after buying an additional 3,119 shares during the period. Raymond James & Associates purchased a new stake in RE/MAX during the first quarter valued at about $368,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in RE/MAX by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,287 shares of the financial services provider’s stock valued at $452,000 after buying an additional 2,009 shares during the period. Finally, Mirabella Financial Services LLP purchased a new stake in RE/MAX during the first quarter valued at about $459,000. Institutional investors own 94.37% of the company’s stock.

About RE/MAX

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RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company operates through three segments: Real Estate, Mortgage, and Marketing Funds. It 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.

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Earnings History for RE/MAX (NYSE:RMAX)

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