Marcus & Millichap (NYSE:MMI) Releases Quarterly Earnings Results, Hits Expectations

Marcus & Millichap (NYSE:MMI) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49, RTT News reports. The business had revenue of $198.20 million for the quarter, compared to analyst estimates of $207.27 million. Marcus & Millichap had a net margin of 10.35% and a return on equity of 20.13%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 earnings per share.

NYSE MMI traded down $2.76 during mid-day trading on Friday, reaching $33.75. 675,200 shares of the stock were exchanged, compared to its average volume of 197,423. Marcus & Millichap has a 1-year low of $27.84 and a 1-year high of $43.50. The business’s fifty day simple moving average is $35.61 and its 200 day simple moving average is $34.49. The stock has a market capitalization of $1.43 billion, a PE ratio of 15.20, a PEG ratio of 3.14 and a beta of 1.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.36 and a current ratio of 4.36.

A number of brokerages recently issued reports on MMI. ValuEngine upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Zacks Investment Research lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Wednesday.

In related news, CEO Hessam Nadji sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $35.47, for a total transaction of $354,700.00. Following the sale, the chief executive officer now owns 262,792 shares in the company, valued at $9,321,232.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 41.70% of the stock is currently owned by company insiders.

Marcus & Millichap Company Profile

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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Earnings History for Marcus & Millichap (NYSE:MMI)

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