The 12% Return This Week Takes Marcus & Millichap's (NYSE:MMI) Shareholders Five-year Gains to 19%
The 12% Return This Week Takes Marcus & Millichap's (NYSE:MMI) Shareholders Five-year Gains to 19%
If you buy and hold a stock for many years, you'd hope to be making a profit. Furthermore, you'd generally like to see the share price rise faster than the market. Unfortunately for shareholders, while the Marcus & Millichap, Inc. (NYSE:MMI) share price is up 13% in the last five years, that's less than the market return. The last year hasn't been great either, with the stock up just 2.4%.
如果你买入并持有一支股票数年,你希望获得一定的盈利。此外,你通常希望看到股票价格上涨速度比市场更快。不幸的是,对于股东而言,虽然Marcus&Millichap,Inc.(纽交所:MMI)股价在过去的五年中上涨了13%,但这低于市场回报。过去一年股价上涨了仅2.4%。
The past week has proven to be lucrative for Marcus & Millichap investors, so let's see if fundamentals drove the company's five-year performance.
过去一周对于Marcus&Millichap的投资者来说证明是有利可图的,所以让我们看看基本面是否推动了公司的五年表现。
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).
尽管市场是一个强大的价格机制,但股票价格反映的不仅是潜在业务绩效,还反映了投资者的情绪。 了解市场情绪随时间的变化的一种方法是查看公司的股价与每股收益(EPS)之间的互动。
Marcus & Millichap's earnings per share are down 15% per year, despite strong share price performance over five years.
尽管股票表现强劲,但Marcus&Millichap的每股收益每年下降了15%。
Since the EPS are down strongly, it seems highly unlikely market participants are looking at EPS to value the company. The falling EPS doesn't correlate with the climbing share price, so it's worth taking a look at other metrics.
由于每股收益大幅下滑,市场参与者看待公司的价值不可能仅仅考虑每股收益。下跌的每股收益与上涨的股价并不相关,因此值得关注其他指标。
The modest 1.4% dividend yield is unlikely to be propping up the share price. In contrast revenue growth of 5.0% per year is probably viewed as evidence that Marcus & Millichap is growing, a real positive. In that case, the company may be sacrificing current earnings per share to drive growth.
渺小的1.4%的股息收益率不可能支撑起股价。相比之下,每年5.0%的营业收入增长可能被视为Marcus&Millichap正在增长的证据,实在是一个积极的迹象。如果是这种情况,公司可能牺牲当前每股收益来推动增长。
You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).
您可以看到以下收益和营收的变化情况(通过单击图像了解精确值)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240714/0-02bd00f6f9c079e15fd67c15cbf9ad4b-0-2cb79ba49180bb192e9cf9f9a7cf7e9a.png/big)
This free interactive report on Marcus & Millichap's balance sheet strength is a great place to start, if you want to investigate the stock further.
如果您想更深入地研究股票,可以从Marcus&Millichap的资产负债表强度自由互动报告开始。
What About Dividends?
那么分红怎么样呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Marcus & Millichap, it has a TSR of 19% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
在考虑投资回报率时,考虑总股东回报率(TSR)和股票价格回报率之间的差异非常重要。 TSR基于假设股息被再投资的前提下,包括任何剥离或折扣资本筹集的价值以及任何股息。可以说,对于支付股息的股票,TSR可以为投资者提供更完整的图片。对于Marcus&Millichap来说,过去5年TSR为19%。这超过了我们之前提到的股票价格回报率。别忘了分红派息在其中扮演了重要角色!
A Different Perspective
不同的观点
Marcus & Millichap shareholders are up 4.0% for the year (even including dividends). But that return falls short of the market. The silver lining is that the gain was actually better than the average annual return of 4% per year over five year. It is possible that returns will improve along with the business fundamentals. If you would like to research Marcus & Millichap in more detail then you might want to take a look at whether insiders have been buying or selling shares in the company.
Marcus&Millichap的股东今年获得4.0%的回报(包括股息)。但这个回报低于市场水平。好消息是,该增长实际上比五年平均年收益率4%还要好。业务基本面改善后,回报可能会提高。如果你想更详细地研究Marcus&Millichap,你可能想看看内部人是否一直在该公司的股票市场上进行买卖。
We will like Marcus & Millichap better if we see some big insider buys. While we wait, check out this free list of undervalued stocks (mostly small caps) with considerable, recent, insider buying.
如果我们看到内部人进行了大笔股票买入,我们将更喜欢Marcus&Millichap。在等待时,请查看这个免费的被低估的股票列表(主要是小市值),其中包括最近进行的内部买入。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意,本文所引述的市场回报反映了目前在美国交易所上市的股票的市场加权平均回报。
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这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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