RE/MAX Holdings, Inc. (NYSE:RMAX) declared a quarterly dividend on Wednesday, November 1st, NASDAQ reports. Investors of record on Wednesday, November 15th will be paid a dividend of 0.18 per share by the financial services provider on Wednesday, November 29th. This represents a $0.72 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Tuesday, November 14th.
RE/MAX Holdings has a payout ratio of 37.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RE/MAX Holdings to earn $2.04 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 35.3%.
RE/MAX Holdings (NYSE:RMAX) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.48 by $0.06. RE/MAX Holdings had a return on equity of 79.94% and a net margin of 12.45%. The business had revenue of $48.82 million for the quarter, compared to the consensus estimate of $48.29 million. During the same period last year, the business posted $0.46 EPS. The company’s revenue was up 12.5% compared to the same quarter last year.
RMAX has been the topic of several research analyst reports. Craig Hallum initiated coverage on RE/MAX Holdings in a report on Wednesday, August 30th. They set a “buy” rating and a $75.00 price target on the stock. BidaskClub raised RE/MAX Holdings from a “buy” rating to a “strong-buy” rating in a report on Friday, October 20th. Zacks Investment Research cut RE/MAX Holdings from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Finally, Piper Jaffray Companies initiated coverage on RE/MAX Holdings in a report on Thursday, September 28th. They set an “overweight” rating and a $69.00 price target on the stock. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $64.67.
In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $60.00, for a total transaction of $72,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.58% of the stock is currently owned by company insiders.
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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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