Risk, strategy, and human capital advisory firm Marsh & McLennan Companies, Inc. (MMC) on Wednesday posted a sharp decline in third quarter earnings, although adjusted results were enough to meet analyst expectations.
The New York-based company reported third quarter net income of $130 million, or 24 cents per share, compared with $168 million, or 30 cents per share, in the year-ago period. Excluding special items, earnings from continuing operations were 23 cents per share.
Revenue rose 11% from last year to $2.81 billion.
On average, Wall Street analysts expected a matching profit of 23 cents per share on lower revenue of $2.73 billion.
Marsh & McLennan shares were unchanged in premarket trading Wednesday.
The Bottom Line
Shares of Marsh & McLennan (MMC) have a 2.96% dividend yield, based on last night’s closing stock price of $29.78. The stock has technical support in the $28 price area. If the shares can firm up, we see overhead resistance around the $32-$34 price levels.
Marsh & McLennan Companies, Inc. (MMC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.