RE/MAX (NYSE:RMAX – Get 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
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.
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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