Equities analysts expect that Marcus & Millichap Inc (NYSE:MMI) will report sales of $160.40 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Marcus & Millichap’s earnings, with the highest sales estimate coming in at $172.40 million and the lowest estimate coming in at $148.40 million. Marcus & Millichap posted sales of $153.21 million during the same quarter last year, which suggests a positive year over year growth rate of 4.7%. The business is scheduled to announce its next quarterly earnings report on Tuesday, May 8th.
On average, analysts expect that Marcus & Millichap will report full year sales of $160.40 million for the current fiscal year, with estimates ranging from $730.60 million to $739.50 million. For the next financial year, analysts expect that the firm will post sales of $746.90 million per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Marcus & Millichap.
Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Thursday, March 8th. The real estate investment trust reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.12. The firm had revenue of $202.80 million for the quarter, compared to analysts’ expectations of $189.10 million. Marcus & Millichap had a net margin of 7.16% and a return on equity of 21.35%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS.
Shares of MMI stock traded down $1.01 during midday trading on Friday, reaching $35.12. 145,198 shares of the company were exchanged, compared to its average volume of 155,156. The firm has a market cap of $1,363.15, a PE ratio of 26.61, a price-to-earnings-growth ratio of 3.09 and a beta of 1.47. Marcus & Millichap has a 12-month low of $23.22 and a 12-month high of $36.70. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.62 and a current ratio of 3.85.
In other Marcus & Millichap news, SVP William E. Hughes sold 12,255 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $36.00, for a total transaction of $441,180.00. Following the sale, the senior vice president now directly owns 61,701 shares of the company’s stock, valued at approximately $2,221,236. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George M. Marcus sold 47,639 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $36.13, for a total transaction of $1,721,197.07. Following the sale, the director now directly owns 15,879 shares in the company, valued at $573,708.27. The disclosure for this sale can be found here. Insiders have sold a total of 707,765 shares of company stock worth $25,210,068 over the last ninety days. 58.30% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its stake in shares of Marcus & Millichap by 94.1% during the 3rd quarter. Wells Fargo & Company MN now owns 91,429 shares of the real estate investment trust’s stock worth $2,468,000 after purchasing an additional 44,329 shares during the last quarter. Dupont Capital Management Corp lifted its holdings in shares of Marcus & Millichap by 102.1% during the 4th quarter. Dupont Capital Management Corp now owns 50,731 shares of the real estate investment trust’s stock worth $1,654,000 after acquiring an additional 25,631 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Marcus & Millichap by 105.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 110,811 shares of the real estate investment trust’s stock worth $3,614,000 after acquiring an additional 56,803 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Marcus & Millichap by 104.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 121,289 shares of the real estate investment trust’s stock worth $3,955,000 after acquiring an additional 61,889 shares during the period. Finally, Granite Investment Partners LLC purchased a new position in shares of Marcus & Millichap during the 3rd quarter worth about $14,391,000. 44.97% of the stock is currently owned by institutional investors.
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About Marcus & Millichap
Marcus & Millichap, Inc, a brokerage firm, provides 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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