Marcus & Millichap Earnings: What To Look For From MMI

Real estate brokerage and services firm Marcus & Millichap (NYSE:MMI) will be reporting results this Thursday before market hours. Here’s what to expect.

Marcus & Millichap beat analysts’ revenue expectations by 3.5% last quarter, reporting revenues of $145 million, up 12.3% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Is Marcus & Millichap a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Marcus & Millichap’s revenue to grow 3.3% year on year to $163.6 million, a reversal from the 2.8% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.10 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Marcus & Millichap has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Marcus & Millichap’s peers in the real estate services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Cushman & Wakefield delivered year-on-year revenue growth of 8.6%, beating analysts’ expectations by 4.6%, and CBRE reported revenues up 16.2%, topping estimates by 4.3%. CBRE traded up 7.3% following the results.

Read our full analysis of Cushman & Wakefield’s results here and CBRE’s results here.

Investors in the real estate services segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Marcus & Millichap is up 1.2% during the same time and is heading into earnings with an average analyst price target of $30 (compared to the current share price of $32).

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