Risk management specialist Marsh & McLennan Companies, Inc. ( MMC ) on Tuesday posted better-than-expected adjusted fourth quarter earnings, as an economic uptick positively impacted all of its business units.
The New York-based company reported fourth quarter net income of $203 million, or 37 cents per share, compared with $23 million, or 4 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 41 cents per share.
Revenue grew 9% from last year to $2.79 billion.
On average, Wall Street analysts expected a smaller profit of 39 cents per share, on lower revenue of $2.74 billion.
Marsh & McLennan shares were down slightly in premarket trading Tuesday.
The Bottom Line
Shares of Marsh & McLennan ( MMC ) have a 2.91% dividend yield, based on last night's closing stock price of $28.87. The stock has technical support in the $25-$26 price area. If the shares can firm up, we see overhead resistance around the $30-$32 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.
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