Re/Max Holdings Trading 4.5% Higher After Earnings Beat (RMAX)
Re/Max Holdings (NASDAQ:RMAX) shares traded up 4.5% during trading on Thursday following a better than expected earnings announcement, AR Network reports. The company traded as high as $31.20 and last traded at $30.40, with a volume of 235,346 shares changing hands. The stock had previously closed at $29.10.
The company reported $0.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.36 by $0.09. The company had revenue of $42.30 million for the quarter, compared to the consensus estimate of $39.20 million.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, August 18th.
A number of research firms have recently commented on RMAX. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Re/Max Holdings in a research note on Tuesday, June 3rd. They now have a $35.00 price target on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Re/Max Holdings from $29.00 to $30.00 in a research note on Thursday, May 29th. They now have a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $32.67.
The stock’s 50-day moving average is $29.0 and its 200-day moving average is $29.12. The company has a market cap of $353.5 million and a price-to-earnings ratio of 86.35.
Re/Max Holdings, Inc is a franchisor of real estate brokerage services. Its business is to recruit and retain agents and sell franchises.
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