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RE/MAX (RMAX) Soars 17.3%: Is Further Upside Left in the Stock?
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RE/MAX (RMAX - Free Report) shares rallied 17.3% in the last trading session to close at $12.91. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 8.6% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the favorable operating environment.
This franchisor of residential real estate brokerages is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of -12.5%. Revenues are expected to be $78.19 million, down 3.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For RE/MAX, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RMAX going forward to see if this recent jump can turn into more strength down the road.
RE/MAX belongs to the Zacks Real Estate - Operations industry. Another stock from the same industry, PennyMac Mortgage (PMT - Free Report) , closed the last trading session 1.9% higher at $14.19. Over the past month, PMT has returned 1.8%.
PennyMac Mortgage's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.34. Compared to the company's year-ago EPS, this represents a change of -33.3%. PennyMac Mortgage currently boasts a Zacks Rank of #4 (Sell).
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RE/MAX (RMAX) Soars 17.3%: Is Further Upside Left in the Stock?
RE/MAX (RMAX - Free Report) shares rallied 17.3% in the last trading session to close at $12.91. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 8.6% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the favorable operating environment.
This franchisor of residential real estate brokerages is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of -12.5%. Revenues are expected to be $78.19 million, down 3.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For RE/MAX, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RMAX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
RE/MAX belongs to the Zacks Real Estate - Operations industry. Another stock from the same industry, PennyMac Mortgage (PMT - Free Report) , closed the last trading session 1.9% higher at $14.19. Over the past month, PMT has returned 1.8%.
PennyMac Mortgage's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.34. Compared to the company's year-ago EPS, this represents a change of -33.3%. PennyMac Mortgage currently boasts a Zacks Rank of #4 (Sell).