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

Marcus & Millichap (NYSE:MMI) announced its 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 the consensus estimate of $207.27 million. Marcus & Millichap had a return on equity of 20.13% and a net margin of 10.35%. The company’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS.

NYSE MMI traded down $2.76 during mid-day trading on Friday, reaching $33.75. 675,200 shares of the company’s stock traded hands, 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 company has a fifty day simple moving average of $35.61 and a 200-day simple moving average of $34.49. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 3.14 and a beta of 1.20.

Several equities research analysts recently commented on MMI shares. ValuEngine upgraded Marcus & Millichap from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Zacks Investment Research downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Wednesday.

In other Marcus & Millichap news, CEO Hessam Nadji sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $35.47, for a total transaction of $354,700.00. Following the completion of the sale, the chief executive officer now owns 262,792 shares in the company, valued at approximately $9,321,232.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 41.70% of the stock is 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.

Recommended Story: Terms to Better Understand Call Options

Earnings History for Marcus & Millichap (NYSE:MMI)

Receive News & Ratings for Marcus & Millichap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marcus & Millichap and related companies with MarketBeat.com's FREE daily email newsletter.