$3.33 Billion in Sales Expected for Marsh & McLennan Companies, Inc. (MMC) This Quarter
Brokerages expect Marsh & McLennan Companies, Inc. (NYSE:MMC) to post $3.33 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Marsh & McLennan Companies’ earnings, with the lowest sales estimate coming in at $3.29 billion and the highest estimate coming in at $3.35 billion. Marsh & McLennan Companies reported sales of $3.14 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.1%. The business is scheduled to announce its next quarterly earnings report before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that Marsh & McLennan Companies will report full year sales of $3.33 billion for the current year, with estimates ranging from $13.80 billion to $13.98 billion. For the next year, analysts anticipate that the business will post sales of $14.56 billion per share, with estimates ranging from $14.34 billion to $14.74 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Marsh & McLennan Companies.
Marsh & McLennan Companies (NYSE:MMC) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.00. The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.55 billion. Marsh & McLennan Companies had a return on equity of 28.56% and a net margin of 13.97%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share.
A number of equities analysts have recently issued reports on the company. Barclays PLC raised their price target on Marsh & McLennan Companies from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, October 16th. Deutsche Bank AG downgraded Marsh & McLennan Companies from a “buy” rating to a “hold” rating and set a $83.00 price target on the stock. in a research note on Wednesday, October 4th. Royal Bank Of Canada restated a “buy” rating and issued a $85.00 price target on shares of Marsh & McLennan Companies in a research note on Tuesday, October 3rd. Zacks Investment Research raised Marsh & McLennan Companies from a “sell” rating to a “hold” rating and set a $95.00 target price on the stock in a report on Monday, October 2nd. Finally, BidaskClub cut Marsh & McLennan Companies from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Marsh & McLennan Companies has a consensus rating of “Buy” and an average target price of $82.73.
In other Marsh & McLennan Companies news, SVP E Scott Gilbert sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $77.31, for a total transaction of $2,319,300.00. Following the sale, the senior vice president now directly owns 68,427 shares of the company’s stock, valued at $5,290,091.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.46% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Great Lakes Advisors LLC raised its holdings in Marsh & McLennan Companies by 2.6% during the second quarter. Great Lakes Advisors LLC now owns 8,677 shares of the financial services provider’s stock valued at $676,000 after acquiring an additional 217 shares during the period. PICTET BANK & TRUST Ltd bought a new stake in Marsh & McLennan Companies during the second quarter valued at about $1,454,000. Delta Lloyd Asset Management N.V. bought a new stake in Marsh & McLennan Companies during the second quarter valued at about $4,338,000. Buckingham Asset Management LLC raised its holdings in Marsh & McLennan Companies by 2.5% during the second quarter. Buckingham Asset Management LLC now owns 2,841 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 68 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Marsh & McLennan Companies by 7.6% during the first quarter. Geode Capital Management LLC now owns 5,068,249 shares of the financial services provider’s stock valued at $373,966,000 after acquiring an additional 356,017 shares during the period. 84.73% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Marsh & McLennan Companies (MMC) opened at 84.28 on Tuesday. The firm has a 50 day moving average price of $82.72 and a 200 day moving average price of $78.25. The company has a market capitalization of $43.20 billion, a price-to-earnings ratio of 23.29 and a beta of 1.01. Marsh & McLennan Companies has a 52 week low of $62.33 and a 52 week high of $84.74.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 10th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.50 dividend on an annualized basis and a yield of 1.78%. Marsh & McLennan Companies’s dividend payout ratio is currently 41.44%.
About Marsh & McLennan Companies
Marsh & McLennan Companies, Inc is a professional services firm offering clients advice and solutions in risk, strategy and people. The Company is the parent company of various risk advisors and specialty consultants, including Marsh, the insurance broker; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resource and investment related financial advice and services, and Oliver Wyman Group, the management and economic consultancy.
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