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Real Brokerage (NASDAQ:REAX) Board Announces Stock Buyback Plan

Real Brokerage logo with Business Services background

Real Brokerage (NASDAQ:REAX - Get Free Report) announced that its Board of Directors has initiated a share buyback program on Friday, May 30th, RTT News reports. The company plans to buyback $150.00 million in shares. This buyback authorization allows the company to repurchase up to 17.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Real Brokerage Stock Performance

Shares of Real Brokerage stock traded up $0.08 on Friday, hitting $4.20. The company's stock had a trading volume of 1,197,150 shares, compared to its average volume of 914,877. The firm has a fifty day moving average price of $4.35 and a 200-day moving average price of $4.67. The company has a market capitalization of $830.57 million, a price-to-earnings ratio of -23.33 and a beta of 1.04. Real Brokerage has a 1 year low of $3.55 and a 1 year high of $6.75.

Real Brokerage (NASDAQ:REAX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. Real Brokerage had a negative net margin of 2.91% and a negative return on equity of 73.22%. The business had revenue of $353.98 million for the quarter, compared to the consensus estimate of $332.92 million. As a group, analysts forecast that Real Brokerage will post -0.1 EPS for the current year.

Analysts Set New Price Targets

Separately, Jones Trading reiterated a "buy" rating and issued a $6.00 target price on shares of Real Brokerage in a report on Thursday, March 6th.

Check Out Our Latest Report on REAX

Real Brokerage Company Profile

(Get Free Report)

The Real Brokerage Inc, together with its subsidiaries, operates as a real estate technology company in the United States and Canada. It operates in three segments: North American Brokerage, Real Title, and One Real Mortgage. It offers brokerage, title, and mortgage broker services. The company is based in Miami, Florida.

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