Marsh & McLennan Companies (MMC) stock price experienced increased activity after marking a 52-week high at $197.79. The stock price dropped 0.54% in the last 5 days, which still kept its price slightly above its 20-day moving average. Notably, the stock rose to $196.42 after dropping to nearly $192.47 this week.
MMC Stock Price Analysis
MMC stock price noted closing at $194.76 on September 8, 2023, Friday, while traded in between the price range of $196.20 to $194.10. Even with the bears’ increased activity, MMC stock price traded above its 20-day EMA. It must be noted that in the last 1 month, the stock price showed a 3.05% price gain which further showed 23.10% growth in the past 6 months.
By marking a 52-week high recently, MMC stock price made a rising chart. For the last 2 months, the stock has been trading near its 20-day EMA. This upside trend further took its RSI near the overbought zone. But as bears have slightly increased their activity, its weekly price analysis showed a falling chart.
The 1-year price target set by the analyst is showing at $201.28, up by over 3% from the recent closing price of MMC stock. Their maximum estimate is showing at $220.00 while the minimum estimate is $188.00. However, in the past 3 months, analysts have given a “buy” rating to MMC share price.
Fundamentals of Marsh & McLennan Companies
Marsh & McLennan Companies Inc. (NYSE: MMC), a global professional services firm, has a market cap of nearly $96.20 Billion. In mid-July 2023, the company released its Q2 2023 report that states its net income is $1.03 Billion.
MMC price-to-sales ratio is 4.50 whereas it has an Enterprise Value to EBITDA ratio of 15.29. Marsh & McLennan Companies Inc. paid its dividends on a quarterly basis. The last dividend per share was $0.71 and as of today, the Dividend Yield (TTM)% is 1.27%.
According to the recent Q2 2023 report, MMC earnings per share (EPS) is $2.20 whereas the estimation was $2.12 which accounts for a 3.96% surprise. The revenue report for the quarter amounts to $5.88 Billion despite the estimated figure of $5.77 Billion.
For the upcoming quarter, the estimated EPS is $1.39 while the revenue is expected to reach $5.21 Billion. In 2022, the revenue of Marsh & McLennan Companies Inc. amounted to $20.72 Billion. Most of which $12.64 Billion came from its highest performing source at the moment, “risk and insurance services.”
Disclaimer
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/09/09/mmc-stock-analysis-ups-and-downs-of-stock-price-this-week/