$188.00 Million in Sales Expected for Marcus & Millichap Inc (MMI) This Quarter
Equities research analysts expect that Marcus & Millichap Inc (NYSE:MMI) will announce $188.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Marcus & Millichap’s earnings. Marcus & Millichap reported sales of $189.16 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.6%. The business is expected to report its next quarterly earnings results on Thursday, March 8th.
On average, analysts expect that Marcus & Millichap will report full year sales of $188.00 million for the current financial year. For the next financial year, analysts forecast that the company will post sales of $731.80 million per share, with estimates ranging from $724.10 million to $739.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Marcus & Millichap.
MMI has been the topic of several research analyst reports. Wells Fargo & Co reissued a “market perform” rating and issued a $31.00 price objective (up from $25.00) on shares of Marcus & Millichap in a report on Wednesday, November 8th. Citigroup raised Marcus & Millichap from a “neutral” rating to a “buy” rating in a report on Tuesday, November 14th. Zacks Investment Research raised Marcus & Millichap from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Wednesday, November 22nd. JMP Securities upgraded Marcus & Millichap from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Finally, William Blair restated a “market perform” rating on shares of Marcus & Millichap in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $33.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMI. Granite Investment Partners LLC purchased a new position in shares of Marcus & Millichap in the third quarter valued at approximately $14,391,000. Millennium Management LLC lifted its position in shares of Marcus & Millichap by 364.8% in the fourth quarter. Millennium Management LLC now owns 347,862 shares of the real estate investment trust’s stock valued at $11,344,000 after acquiring an additional 273,022 shares in the last quarter. Cambiar Investors LLC purchased a new position in shares of Marcus & Millichap in the fourth quarter valued at approximately $7,153,000. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Marcus & Millichap in the fourth quarter valued at approximately $4,962,000. Finally, Dimensional Fund Advisors LP lifted its position in Marcus & Millichap by 18.7% during the second quarter. Dimensional Fund Advisors LP now owns 779,424 shares of the real estate investment trust’s stock worth $20,546,000 after buying an additional 122,885 shares in the last quarter. Institutional investors and hedge funds own 42.55% of the company’s stock.
Shares of Marcus & Millichap (NYSE MMI) traded up $0.35 on Monday, reaching $31.78. The company’s stock had a trading volume of 103,200 shares, compared to its average volume of 125,882. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.62 and a current ratio of 4.62. Marcus & Millichap has a one year low of $23.22 and a one year high of $33.30. The firm has a market capitalization of $1,210.00, a price-to-earnings ratio of 20.64, a P/E/G ratio of 3.24 and a beta of 1.47.
Marcus & Millichap Company Profile
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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