$54.65 Million in Sales Expected for RMR Group Inc (NYSE:RMR) This Quarter
Wall Street brokerages expect that RMR Group Inc (NYSE:RMR) will report $54.65 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for RMR Group’s earnings. The lowest sales estimate is $53.40 million and the highest is $56.06 million. RMR Group posted sales of $52.21 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The business is expected to announce its next earnings report on Tuesday, August 8th.
On average, analysts expect that RMR Group will report full year sales of $54.65 million for the current year, with estimates ranging from $266.30 million to $276.04 million. For the next financial year, analysts expect that the business will report sales of $237.62 million per share, with estimates ranging from $218.65 million to $256.59 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for RMR Group.
RMR Group (NYSE:RMR) last issued its quarterly earnings results on Wednesday, May 10th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.01. RMR Group had a return on equity of 19.25% and a net margin of 32.69%. The firm had revenue of $54.30 million for the quarter, compared to the consensus estimate of $52.79 million.
Several research analysts have commented on the stock. Canaccord Genuity set a $72.00 price objective on shares of RMR Group and gave the company a “buy” rating in a report on Wednesday, June 28th. Zacks Investment Research downgraded shares of RMR Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 17th. FBR & Co reissued a “mkt perform” rating and set a $48.00 price objective (up previously from $44.00) on shares of RMR Group in a report on Friday, May 12th. Finally, Oppenheimer Holdings, Inc. assumed coverage on shares of RMR Group in a report on Tuesday, April 18th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $59.33.
Shares of RMR Group (NYSE:RMR) traded up 3.78% during midday trading on Friday, reaching $50.80. The company’s stock had a trading volume of 33,183 shares. The company’s 50-day moving average price is $49.56 and its 200-day moving average price is $48.20. The company has a market cap of $817.58 million and a PE ratio of 18.35. RMR Group has a 12 month low of $30.78 and a 12 month high of $55.10.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Engine Capital Management LLC increased its position in RMR Group by 977.4% in the first quarter. Engine Capital Management LLC now owns 113,569 shares of the financial services provider’s stock valued at $5,622,000 after buying an additional 103,028 shares during the period. Credit Suisse AG increased its position in RMR Group by 46.6% in the first quarter. Credit Suisse AG now owns 21,540 shares of the financial services provider’s stock valued at $1,066,000 after buying an additional 6,845 shares during the period. AQR Capital Management LLC bought a new position in RMR Group during the first quarter valued at approximately $1,111,000. Bank of America Corp DE increased its position in RMR Group by 1.2% in the first quarter. Bank of America Corp DE now owns 5,027 shares of the financial services provider’s stock valued at $249,000 after buying an additional 59 shares during the period. Finally, Lucus Advisors LLC bought a new position in RMR Group during the first quarter valued at approximately $413,000.
RMR Group Company Profile
The RMR Group Inc is a holding company. The Company’s business is primarily conducted by its subsidiary, The RMR Group LLC (RMR LLC). The Company’s segments include RMR LLC and All Other Operations. RMR LLC manages a portfolio of publicly owned real estate and real estate related businesses. RMR LLC manages Government Properties Income Trust, a real estate investment trust (REIT) that primarily owns properties that are leased to government tenants; Hospitality Properties Trust, an REIT that primarily owns hotels and travel centers; Select Income REIT, an REIT that primarily owns properties leased to single tenants across the United States and leased lands in Hawaii, and Senior Housing Properties Trust, an REIT that primarily owns senior living communities and medical office buildings.
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