Re/Max Holdings Inc is a global real estate brokerage franchise that specializes in residential property sales
The company operates a network of independent franchisee-owned offices that provide comprehensive services to buyers and sellers in the real estate market. Re/Max is known for its innovative marketing strategies and technology-driven tools, which empower real estate agents to enhance their productivity and deliver exceptional customer service. With a presence in numerous countries, Re/Max strives to connect clients with experienced agents who possess in-depth local market knowledge, facilitating seamless transactions in the competitive real estate landscape.
RE/MAX has followed the market’s trajectory closely, rising in tandem with the S&P 500 over the past six months. The stock has climbed by 6.8% to $10.16 per share while the index has gained 9.4%.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at RE/MAX (NYSERMAX) and the best and worst performers in the real estate services industry.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the real estate services industry, including Cushman & Wakefield (NYSECWK) and its peers.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how real estate services stocks fared in Q3, starting with Redfin (NASDAQRDFN).
Shares of real estate franchise company RE/MAX (NYSERMAX)
fell 15.5% in the afternoon session after the company reported weak third-quarter earnings. Sales declined during the quarter due to a decrease in agent count and a reduction in revenue from previous acquisitions. In addition, revenue forecast for the next quarter was underwhelming, coming in below Wall Street's estimates. Overall, this was a weaker quarter for the company.
Real estate franchise company RE/MAX (NYSERMAX) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 3.4% year on year to $78.48 million. On the other hand, next quarter’s revenue guidance of $73.5 million was less impressive, coming in 3.5% below analysts’ estimates. Its non-GAAP profit of $0.38 per share was 6.9% above analysts’ consensus estimates.
RE/MAX released its National Housing Report for September 2024 which showed home sales slowed 13.3% from August and the median sales price dropped 1.4% to $429,000. Here's what to know.
Inflation unexpectedly surges, shattering hopes for Fed rate cuts & sending stocks down. Core inflation also exceeded expectations. No sector escapes losses, with real estate hit hardest.
RXR, a major property developer led by CEO Scott Rechler, has announced the launch of a $1 billion fund specifically designed to invest in New York City's distressed office buildings, marking a potential new chapter in the ongoing commercial real estate crisis.
