Marcus & Millichap Inc (MMI) Expected to Post Quarterly Sales of $160.40 Million

Wall Street analysts expect Marcus & Millichap Inc (NYSE:MMI) to announce $160.40 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Marcus & Millichap’s earnings. The lowest sales estimate is $148.40 million and the highest is $172.40 million. Marcus & Millichap reported sales of $153.21 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The business is expected to announce its next 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 financial year, with estimates ranging from $730.60 million to $739.50 million. For the next fiscal year, analysts expect that the company will report sales of $746.90 million per share. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Marcus & Millichap.

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Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Thursday, March 8th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.12. The firm had revenue of $202.80 million for the quarter, compared to analyst estimates of $189.10 million. Marcus & Millichap had a return on equity of 21.35% and a net margin of 7.16%. Marcus & Millichap’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share.

MMI has been the topic of several recent analyst reports. Wells Fargo set a $37.00 price target on Marcus & Millichap and gave the company a “hold” rating in a research report on Wednesday, March 21st. Zacks Investment Research lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. ValuEngine raised Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Saturday, March 10th. JMP Securities raised Marcus & Millichap from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Finally, William Blair reissued a “market perform” rating on shares of Marcus & Millichap in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $38.50.

NYSE:MMI traded down $0.67 during trading hours on Wednesday, hitting $34.73. 290,311 shares of the company’s stock traded hands, compared to its average volume of 224,244. The firm has a market capitalization of $1,350.18, a price-to-earnings ratio of 21.99, a PEG ratio of 3.06 and a beta of 1.31. Marcus & Millichap has a twelve month low of $23.40 and a twelve month high of $36.70. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 0.02.

In other Marcus & Millichap news, CFO Martin E. Louie sold 7,800 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $28.90, for a total value of $225,420.00. Following the transaction, the chief financial officer now owns 56,966 shares in the company, valued at $1,646,317.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George M. Marcus sold 47,639 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $36.13, for a total value of $1,721,197.07. Following the completion of the transaction, the director now owns 15,879 shares in the company, valued at approximately $573,708.27. The disclosure for this sale can be found here. Insiders sold 679,569 shares of company stock worth $24,301,869 in the last 90 days. Corporate insiders own 58.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. New York State Common Retirement Fund boosted its stake in shares of Marcus & Millichap by 175.5% during the 3rd quarter. New York State Common Retirement Fund now owns 65,742 shares of the real estate investment trust’s stock worth $1,774,000 after acquiring an additional 41,876 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Marcus & Millichap by 50.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 149,714 shares of the real estate investment trust’s stock worth $4,040,000 after acquiring an additional 50,182 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Marcus & Millichap during the 3rd quarter worth about $264,000. Schroder Investment Management Group bought a new stake in shares of Marcus & Millichap during the 3rd quarter worth about $387,000. Finally, Citadel Advisors LLC boosted its stake in shares of Marcus & Millichap by 35.8% during the 3rd quarter. Citadel Advisors LLC now owns 83,446 shares of the real estate investment trust’s stock worth $2,252,000 after acquiring an additional 22,020 shares in the last quarter. Hedge funds and other institutional investors own 44.97% of the company’s stock.

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Marcus & Millichap Company Profile

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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