Zacks: Analysts Anticipate Newmark Group, Inc. (NASDAQ:NMRK) Will Announce Quarterly Sales of $657.55 Million

Wall Street analysts expect Newmark Group, Inc. (NASDAQ:NMRKGet Rating) to report sales of $657.55 million for the current quarter, Zacks reports. Two analysts have provided estimates for Newmark Group’s earnings, with the lowest sales estimate coming in at $559.00 million and the highest estimate coming in at $756.10 million. Newmark Group reported sales of $503.98 million in the same quarter last year, which indicates a positive year over year growth rate of 30.5%. The company is expected to report its next quarterly earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Newmark Group will report full-year sales of $3.20 billion for the current year, with estimates ranging from $3.08 billion to $3.32 billion. For the next financial year, analysts expect that the business will post sales of $3.54 billion, with estimates ranging from $3.29 billion to $3.79 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Newmark Group.

Newmark Group (NASDAQ:NMRKGet Rating) last issued its quarterly earnings results on Friday, February 11th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.10. Newmark Group had a return on equity of 31.11% and a net margin of 25.83%. The firm had revenue of $984.50 million for the quarter, compared to analysts’ expectations of $876.23 million. During the same period in the previous year, the firm posted $0.30 EPS. The business’s revenue for the quarter was up 63.7% compared to the same quarter last year.

NMRK has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Newmark Group in a research report on Tuesday, April 5th. They issued a “neutral” rating and a $18.00 price objective on the stock. Raymond James lowered their price objective on Newmark Group from $21.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday. Wolfe Research cut Newmark Group from an “outperform” rating to a “peer perform” rating and lowered their price objective for the company from $22.00 to $17.00 in a research report on Thursday, March 10th. Piper Sandler cut Newmark Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $20.00 to $15.00 in a research report on Monday, April 18th. Finally, Zacks Investment Research lowered shares of Newmark Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 14th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $16.80.

In related news, Chairman Howard W. Lutnick acquired 227,000 shares of Newmark Group stock in a transaction dated Friday, February 11th. The stock was purchased at an average cost of $17.36 per share, for a total transaction of $3,940,720.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Howard W. Lutnick purchased 50,000 shares of the business’s stock in a transaction on Monday, February 14th. The stock was acquired at an average price of $16.53 per share, with a total value of $826,500.00. The disclosure for this purchase can be found here. Insiders bought a total of 286,800 shares of company stock valued at $4,931,370 over the last 90 days. 27.10% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd increased its stake in Newmark Group by 912.5% in the 4th quarter. Point72 Hong Kong Ltd now owns 2,025 shares of the company’s stock worth $38,000 after buying an additional 1,825 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Newmark Group during the 4th quarter valued at about $41,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Newmark Group during the 1st quarter valued at about $38,000. Spire Wealth Management bought a new position in shares of Newmark Group during the 4th quarter valued at about $50,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Newmark Group during the 4th quarter valued at about $78,000. Institutional investors and hedge funds own 50.38% of the company’s stock.

NMRK stock opened at $12.87 on Thursday. The stock has a market capitalization of $2.43 billion, a PE ratio of 3.52, a price-to-earnings-growth ratio of 0.73 and a beta of 1.71. Newmark Group has a 12-month low of $10.50 and a 12-month high of $19.10. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.41. The stock’s 50 day simple moving average is $15.41 and its 200 day simple moving average is $15.91.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were paid a $0.01 dividend. The ex-dividend date was Monday, February 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.31%. Newmark Group’s dividend payout ratio (DPR) is 1.09%.

Newmark Group Company Profile (Get Rating)

Newmark Group, Inc provides commercial real estate services in the United States and internationally. The company's investor/owner services and products include capital markets, such as investment, debt and structured finance, and loan sales; agency leasing, property management, and valuation and advisory; and commercial real estate due diligence consulting and advisory services, as well as government sponsored enterprise lending, loan servicing, mortgage broking, and equity-raising services.

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