Marcus & Millichap, Inc. (NYSE:MMI) Announces Earnings Results, Beats Estimates By $0.07 EPS
Marcus & Millichap, Inc. (NYSE:MMI) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.07, Briefing.com reports. Marcus & Millichap had a net margin of 8.75% and a return on equity of 24.81%. The company had revenue of $180.37 million for the quarter, compared to analysts’ expectations of $177.40 million. During the same quarter in the previous year, the business posted $0.45 EPS. Marcus & Millichap’s revenue was down 1.6% compared to the same quarter last year.
Shares of Marcus & Millichap (MMI) traded up 4.73% during trading on Wednesday, reaching $27.00. The company’s stock had a trading volume of 389,932 shares. Marcus & Millichap has a 12-month low of $22.93 and a 12-month high of $30.31. The firm’s 50-day moving average is $26.22 and its 200-day moving average is $25.64. The stock has a market capitalization of $1.03 billion, a PE ratio of 16.99 and a beta of 1.55.
MMI has been the subject of a number of recent analyst reports. Zacks Investment Research raised Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub raised Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, ValuEngine lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $27.00.
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In related news, CEO Hessam Nadji sold 8,500 shares of Marcus & Millichap stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $24.41, for a total transaction of $207,485.00. Following the completion of the sale, the chief executive officer now owns 305,161 shares of the company’s stock, valued at $7,448,980.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 58.30% of the company’s stock.
About Marcus & Millichap
Marcus & Millichap, Inc is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services. The Company offers three primary services to its clients: commercial real estate investment brokerage, financing, and ancillary services, including other research, advisory and consulting services.
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