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.

Recommended Stories

Get a free copy of the Zacks research report on Newmark Group (NMRK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Newmark Group (NASDAQ:NMRK)

Receive News & Ratings for Newmark Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmark Group and related companies with MarketBeat.com's FREE daily email newsletter.