Craig Hallum Analysts Give Re/Max (RMAX) a $50.00 Price Target

Craig Hallum set a $50.00 price objective on Re/Max (NYSE:RMAX) in a report released on Monday, The Fly reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on the company. TheStreet downgraded Re/Max from a b- rating to a c+ rating in a report on Friday, October 12th. Zacks Investment Research downgraded Re/Max from a hold rating to a sell rating in a report on Saturday, September 22nd. Finally, Piper Jaffray Companies restated a buy rating and issued a $65.00 price objective on shares of Re/Max in a report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $56.50.

NYSE RMAX opened at $33.53 on Monday. The firm has a market capitalization of $605.67 million, a P/E ratio of 17.93, a P/E/G ratio of 2.29 and a beta of 0.66. Re/Max has a twelve month low of $33.27 and a twelve month high of $61.27. The company has a debt-to-equity ratio of 3.17, a current ratio of 5.51 and a quick ratio of 5.71.

Re/Max (NYSE:RMAX) last posted its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.06). The company had revenue of $54.90 million during 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 business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 earnings per share. On average, sell-side analysts anticipate that Re/Max will post 2.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.39%. Re/Max’s payout ratio is currently 42.78%.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Re/Max by 6.5% during the 2nd quarter. BlackRock Inc. now owns 2,432,754 shares of the financial services provider’s stock worth $127,598,000 after acquiring an additional 148,313 shares during the period. Van Berkom & Associates Inc. grew its holdings in Re/Max by 28.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,797,834 shares of the financial services provider’s stock worth $79,734,000 after acquiring an additional 395,932 shares during the period. Renaissance Technologies LLC grew its holdings in Re/Max by 7.0% during the 2nd quarter. Renaissance Technologies LLC now owns 998,100 shares of the financial services provider’s stock worth $52,350,000 after acquiring an additional 64,900 shares during the period. Dimensional Fund Advisors LP grew its holdings in Re/Max by 15.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 829,693 shares of the financial services provider’s stock worth $43,517,000 after acquiring an additional 110,530 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Re/Max by 40.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 688,309 shares of the financial services provider’s stock worth $30,526,000 after acquiring an additional 198,539 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

Re/Max Company Profile

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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