Newmark Group, Inc. (NASDAQ:NMRK) Expected to Post Quarterly Sales of $711.40 Million

Wall Street brokerages expect Newmark Group, Inc. (NASDAQ:NMRKGet Rating) to announce $711.40 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Newmark Group’s earnings, with the highest sales estimate coming in at $755.80 million and the lowest estimate coming in at $667.00 million. Newmark Group posted sales of $629.87 million in the same quarter last year, which suggests a positive year over year growth rate of 12.9%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Newmark Group will report full year sales of $3.07 billion for the current financial year. For the next financial year, analysts expect that the business will report sales of $3.56 billion, with estimates ranging from $3.34 billion to $3.79 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Newmark Group.

Newmark Group (NASDAQ:NMRKGet Rating) last issued its quarterly earnings results on Friday, April 29th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.12. Newmark Group had a return on equity of 30.22% and a net margin of 23.31%. The firm had revenue of $678.20 million during the quarter, compared to the consensus estimate of $652.97 million. During the same period last year, the company earned $0.20 earnings per share. The company’s revenue for the quarter was up 34.6% on a year-over-year basis.

NMRK has been the subject of several research analyst reports. Raymond James cut their price objective on Newmark Group from $21.00 to $18.00 and set an “outperform” rating for the company in a research report on Tuesday, April 26th. 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 for the company. Wolfe Research cut Newmark Group from an “outperform” rating to a “peer perform” rating and cut their price objective for the stock from $22.00 to $17.00 in a research report on Thursday, March 10th. Zacks Investment Research cut Newmark Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 14th. Finally, Piper Sandler cut Newmark Group from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $15.00 in a research report on Monday, April 18th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Newmark Group has a consensus rating of “Hold” and an average target price of $16.80.

In other Newmark Group news, Chairman Howard W. Lutnick acquired 9,800 shares of the company’s stock in a transaction on Wednesday, February 23rd. The shares were bought at an average cost of $16.75 per share, for a total transaction of $164,150.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 27.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd boosted its position in Newmark Group by 912.5% during the 4th quarter. Point72 Hong Kong Ltd now owns 2,025 shares of the company’s stock valued at $38,000 after purchasing an additional 1,825 shares during the period. Lazard Asset Management LLC acquired a new position in Newmark Group during the 4th quarter worth $41,000. Robeco Institutional Asset Management B.V. acquired a new position in Newmark Group during the 1st quarter worth $38,000. Spire Wealth Management acquired a new position in Newmark Group during the 4th quarter worth $50,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Newmark Group during the 4th quarter worth $78,000. Institutional investors and hedge funds own 58.17% of the company’s stock.

Shares of NASDAQ NMRK opened at $11.43 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a fifty day moving average price of $13.95 and a 200 day moving average price of $15.62. Newmark Group has a 1-year low of $10.85 and a 1-year high of $19.10. The company has a market cap of $2.16 billion, a PE ratio of 3.27, a P/E/G ratio of 0.62 and a beta of 1.77.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Monday, May 16th will be paid a $0.03 dividend. This is a positive change from Newmark Group’s previous quarterly dividend of $0.01. This represents a $0.12 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, May 13th. Newmark Group’s payout ratio is currently 3.43%.

About Newmark Group (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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