Equities analysts forecast that Marcus & Millichap Inc (NYSE:MMI) will post sales of $188.40 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Marcus & Millichap’s earnings. The lowest sales estimate is $186.50 million and the highest is $190.30 million. Marcus & Millichap posted sales of $199.40 million during the same quarter last year, which suggests a negative year-over-year growth rate of 5.5%. The company is expected to announce its next quarterly earnings report on Tuesday, August 6th.
According to Zacks, analysts expect that Marcus & Millichap will report full year sales of $775.25 million for the current fiscal year, with estimates ranging from $763.30 million to $787.20 million. For the next fiscal year, analysts expect that the firm will post sales of $823.20 million, with estimates ranging from $803.70 million to $842.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Marcus & Millichap.
Marcus & Millichap (NYSE:MMI) last posted its earnings results on Tuesday, May 7th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.02). Marcus & Millichap had a net margin of 10.60% and a return on equity of 21.53%. The business had revenue of $160.70 million for the quarter, compared to analyst estimates of $178.13 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s revenue was down 7.9% compared to the same quarter last year.
Shares of MMI stock opened at $30.70 on Friday. Marcus & Millichap has a 12 month low of $29.71 and a 12 month high of $43.50. The company has a current ratio of 4.64, a quick ratio of 4.64 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 2.78 and a beta of 1.44.
In other Marcus & Millichap news, VP Mitchell R. Labar sold 10,586 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $31.24, for a total value of $330,706.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 41.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Mason Street Advisors LLC increased its position in shares of Marcus & Millichap by 4.3% in the 1st quarter. Mason Street Advisors LLC now owns 6,885 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 283 shares during the last quarter. Pitcairn Co. increased its position in shares of Marcus & Millichap by 3.6% in the 4th quarter. Pitcairn Co. now owns 8,286 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 285 shares during the last quarter. Bank of Montreal Can increased its position in shares of Marcus & Millichap by 63.2% in the 1st quarter. Bank of Montreal Can now owns 775 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 300 shares during the last quarter. Arizona State Retirement System increased its position in shares of Marcus & Millichap by 1.0% in the 1st quarter. Arizona State Retirement System now owns 33,069 shares of the real estate investment trust’s stock worth $1,347,000 after purchasing an additional 332 shares during the last quarter. Finally, Advisor Group Inc. increased its position in shares of Marcus & Millichap by 8.5% in the 4th quarter. Advisor Group Inc. now owns 4,590 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 57.47% of the company’s stock.
About Marcus & Millichap
Marcus & Millichap, Inc, a brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.
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