Real estate brokerage and services firm Marcus & Millichap (NYSE:MMI) will be reporting results this Thursday before the bell. Here’s what to expect.
Marcus & Millichap beat analysts’ revenue expectations last quarter, reporting revenues of $171.5 million, up 18.2% year on year. It was a very strong quarter for the company, with 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 for active Edge members.
This quarter, the market is expecting Marcus & Millichap’s revenue to grow 12.8% year on year, improving from the 8.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Marcus & Millichap rarely misses Wall Street’s revenue estimates.
Looking at Marcus & Millichap’s peers in the consumer discretionary - real estate services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Compass delivered year-on-year revenue growth of 109%, beating analysts’ expectations by 4.7%, and JLL reported revenues up 10.8%, topping estimates by 1.5%. JLL traded up 4.4% following the results.
Read our full analysis of Compass’s results here and JLL’s results here.
Investors in the consumer discretionary - real estate services segment have had steady hands going into earnings, with share prices up 1.2% on average over the last month. Marcus & Millichap is down 3.4% during the same time and is heading into earnings with an average analyst price target of $28 (compared to the current share price of $30.88).
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