ReMax Holdings Trading 3.5% Higher After Analyst Upgrade (RMAX)
Shares of ReMax Holdings (NASDAQ:RMAX) were up 3.5% during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $29.00 to $30.00, Stock Ratings Network reports. JPMorgan Chase & Co. currently has a neutral rating on the stock. ReMax Holdings traded as high as $28.93 and last traded at $28.73, with a volume of 127,999 shares traded. The stock had previously closed at $27.77.
In other ReMax Holdings news, Director Daniel Predovich sold 2,480 shares of the company’s stock on the open market in a transaction dated Friday, May 16th. The stock was sold at an average price of $26.96, for a total value of $66,860.80. Following the transaction, the director now directly owns 2,293 shares of the company’s stock, valued at approximately $61,819. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
The stock has a 50-day moving average of $27.52 and a 200-day moving average of $29.51. The company has a market cap of $333.5 million and a price-to-earnings ratio of 82.40.
ReMax Holdings (NASDAQ:RMAX) last released its earnings data on Wednesday, May 14th. The company reported $0.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.02. The company had revenue of $41.90 million for the quarter, compared to the consensus estimate of $40.30 million. ReMax Holdings’s revenue was up 7.2% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, May 20th.
Re/Max Holdings, Inc is a franchisor of real estate brokerage services. Its business is to recruit and retain agents and sell franchises.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.