Stock Story -
Real estate franchise company RE/MAX (NYSE:RMAX) will be reporting results tomorrow after the bell. Here's what you need to know.
RE/MAX met analysts' revenue expectations last quarter, reporting revenues of $76.6 million, down 5.7% year on year. It was a weak quarter for the company, with revenue guidance for next quarter missing analysts' expectations.
Is RE/MAX a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting RE/MAX's revenue to decline 9.5% year on year to $77.26 million, a further deceleration from the 6.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.19 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. RE/MAX has missed Wall Street's revenue estimates six times over the last two years.
Looking at RE/MAX's peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Anywhere Real Estate posted flat year-on-year revenue, missing analysts' expectations by 1.8%, and Cushman & Wakefield reported a revenue decline of 2.9%, in line with consensus estimates. Anywhere Real Estate traded down 4.6% following the results while Cushman & Wakefield was also down 2.7%.
Read the full analysis of Anywhere Real Estate's and Cushman & Wakefield's results on StockStory.
Growth stocks have been quite volatile since the start of 2024, and while some of the consumer discretionary stocks have fared somewhat better, they have not been spared, with share prices down 5.9% on average over the last month. RE/MAX is down 10.5% during the same time and is heading into earnings with an average analyst price target of $9.3 (compared to the current share price of $7.02).