RMR Group Inc (RMR) Expected to Post Quarterly Sales of $57.62 Million
Wall Street analysts expect RMR Group Inc (NYSE:RMR) to announce $57.62 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for RMR Group’s earnings, with the lowest sales estimate coming in at $54.60 million and the highest estimate coming in at $60.63 million. RMR Group posted sales of $56.27 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.4%. The firm is expected to issue its next earnings results on Thursday, December 21st.
On average, analysts expect that RMR Group will report full-year sales of $57.62 million for the current financial year, with estimates ranging from $269.70 million to $275.73 million. For the next year, analysts forecast that the business will report sales of $349.87 million per share, with estimates ranging from $340.60 million to $359.13 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for RMR Group.
RMR Group (NYSE:RMR) last announced its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by $0.02. The company had revenue of $55.50 million for the quarter, compared to analysts’ expectations of $54.65 million. RMR Group had a net margin of 31.72% and a return on equity of 18.72%.
Several research firms have recently issued reports on RMR. Canaccord Genuity began coverage on shares of RMR Group in a report on Wednesday, May 31st. They set a “buy” rating and a $72.00 price objective on the stock. Zacks Investment Research downgraded shares of RMR Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, FBR & Co restated 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $58.00.
Shares of RMR Group (NYSE:RMR) traded down 0.41% during mid-day trading on Friday, hitting $48.35. 2,694 shares of the stock were exchanged. RMR Group has a 12 month low of $33.90 and a 12 month high of $55.10. The stock has a market cap of $778.14 million and a PE ratio of 17.47. The stock’s 50 day moving average is $48.94 and its 200-day moving average is $49.95.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, July 24th were issued a $0.25 dividend. The ex-dividend date was Thursday, July 20th. This represents a $1.00 annualized dividend and a yield of 2.06%.
Large investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System acquired a new position in RMR Group in the 1st quarter worth approximately $208,000. American International Group Inc. increased its holdings in RMR Group by 7.1% in the 1st quarter. American International Group Inc. now owns 4,261 shares of the financial services provider’s stock worth $211,000 after buying an additional 281 shares during the period. Principal Financial Group Inc. acquired a new position in RMR Group in the 2nd quarter worth approximately $211,000. Wedbush Securities Inc. acquired a new position in RMR Group in the 1st quarter worth approximately $216,000. Finally, Voya Investment Management LLC acquired a new position in RMR Group in the 2nd quarter worth approximately $218,000.
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About RMR Group
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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