MMC

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target price by $5 to $200, valuing MMC shares at 23.3x our 2024 EPS estimate of $8.60 (upped by $0.20) and at 21.2x our 2025 EPS estimate of $9.45 (raised by $0.15), versus its five-year average forward multiple of 22.4x and the peer average of 21.2x. We increase our 2023 EPS estimate by $0.25 to $7.95 after Q3 EPS of $1.57 versus $1.18 topped our $1.38 EPS estimate and the $1.39 consensus view on 10% higher revenues and wider operating margins. We lift our 2023 revenue forecast to growth of 10%-14% after YTD revenues rose 12%. We also raise our 2024 revenue forecast to 8%-12% (from 7%-10), as MMC continues to benefit from a strong insurance pricing environment and the lack of any […]

Marsh & McLennan (NYSE:MMC) reported Q2 adjusted earnings Thursday of $2.20 per diluted share, up from $1.89 a year earlier. Analysts polled by Capital IQ expected $2.12. Revenue for the quarter ended June 30 was $5.88 billion, up from $5.38 billion a year earlier. Analysts surveyed by Capital IQ expected $5.76 billion.