Real estate franchise company RE/MAX (NYSE:RMAX) will report results tomorrow after the bell. Here’s what you need to know.
RE/MAX beat analysts’ revenue expectations last quarter, reporting revenue of $76.6 million, down 5.7% year-over-year. It was a weak quarter for the company, with revenue guidance for the next quarter missing analysts’ expectations.
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Analysts expect RE/MAX’s revenue to decline 9.5% year over year to $77.26 million this quarter, a further slowdown from the 6.2% decline recorded in the same quarter last year. Adjusted earnings are expected to be $0.19 per share.
Analysts covering the company have broadly reaffirmed their estimates over the past 30 days, suggesting they expect the business to continue on its earnings path. Over the past two years, RE/MAX has missed Wall Street earnings estimates six times.
Looking at RE/MAX’s competitors in the consumer segment, several of them have already reported their first-quarter results, which gives us a hint of what we can expect. Anywhere Real Estate reported flat annual revenue, missing analysts’ expectations by 1.8%, and Cushman & Wakefield reported a 2.9% decline in revenue, in line with consensus estimates. Shares of Anywhere Real Estate fell 4.6%, while shares of Cushman & Wakefield also fell 2.7%.
Read our full performance analysis of Anywhere Real Estate and Cushman & Wakefield on StockStory.
Growth stocks have been quite volatile since the start of 2024, and while some of the consumer discretionary stocks have outperformed somewhat, they haven’t been spared, with share prices down an average of 5.9% over the past month. RE/MAX shares are down 10.5% over the same period and are approaching earnings, with an average analyst price target of $9.3 (versus the current share price of $7.02).
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