Marcus & Millichap Reaches New 12-Month High on Earnings Beat (MMI)
Marcus & Millichap (NYSE:MMI)’s share price hit a new 52-week high during trading on Monday after the company announced better than expected quarterly earnings, AnalystRatingsNetwork reports. The company traded as high as $27.57 and last traded at $26.61, with a volume of 73,021 shares traded. The stock had previously closed at $25.90.
The company reported $0.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.10.
Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Marcus & Millichap in a research note on Friday, July 11th. They now have a $28.00 price target on the stock, up previously from $21.00.
The stock has a 50-day moving average of $24.14 and a 200-day moving average of $19.48. The company has a market cap of $973.4 million and a price-to-earnings ratio of 49.62.
Marcus & Millichap, Inc is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services.
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