What To Expect From Marcus & Millichap’s (MMI) Q4 Earnings

StockStory
02-13
What To Expect From Marcus & Millichap’s (MMI) Q4 Earnings

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

Marcus & Millichap beat analysts’ revenue expectations by 4.7% last quarter, reporting revenues of $168.5 million, up 4% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ EPS 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 20.2% year on year to $199.8 million, a reversal from the 36.7% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.02 per share.

Analysts covering the company have generally 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 four times over the last two years.

Looking at Marcus & Millichap’s peers in the consumer discretionary segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Zillow delivered year-on-year revenue growth of 16.9%, beating analysts’ expectations by 1.1%, and CBRE reported revenues up 16.2%, topping estimates by 1.2%. Zillow traded down 10.7% following the results.

Read our full analysis of Zillow’s results here and CBRE’s results here.

Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. Marcus & Millichap is up 4.7% during the same time and is heading into earnings with an average analyst price target of $30 (compared to the current share price of $37.59).

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