Brokerages Anticipate Newmark Group, Inc. (NASDAQ:NMRK) Will Post Earnings of $0.37 Per Share

Equities analysts expect that Newmark Group, Inc. (NASDAQ:NMRKGet Rating) will post $0.37 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Newmark Group’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.39. Newmark Group posted earnings per share of $0.31 in the same quarter last year, which suggests a positive year over year growth rate of 19.4%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Newmark Group will report full-year earnings of $1.82 per share for the current fiscal year, with EPS estimates ranging from $1.80 to $1.84. For the next fiscal year, analysts anticipate that the business will post earnings of $2.05 per share, with EPS estimates ranging from $2.00 to $2.10. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Newmark Group.

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

A number of brokerages recently weighed in on NMRK. Raymond James cut their price target on shares of Newmark Group from $21.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 26th. The Goldman Sachs Group assumed coverage on shares of Newmark Group in a research report on Tuesday, April 5th. They issued a “neutral” rating and a $18.00 price target on the stock. Zacks Investment Research cut Newmark Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 14th. Wolfe Research cut Newmark Group from an “outperform” rating to a “peer perform” rating and lowered their target price for the stock from $22.00 to $17.00 in a research note on Thursday, March 10th. Finally, Piper Sandler cut Newmark Group from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $20.00 to $15.00 in a research note on Monday, April 18th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $16.80.

Shares of NASDAQ:NMRK opened at $10.97 on Monday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 3.13, a P/E/G ratio of 0.62 and a beta of 1.77. The firm’s 50 day simple moving average is $13.85 and its 200 day simple moving average is $15.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.73 and a quick ratio of 0.73. Newmark Group has a fifty-two week low of $10.85 and a fifty-two week high of $19.10.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Monday, May 16th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.09%. This is a boost from Newmark Group’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Friday, May 13th. Newmark Group’s dividend payout ratio is presently 3.43%.

In other Newmark Group news, Chairman Howard W. Lutnick bought 9,800 shares of the stock in a transaction that occurred on Wednesday, February 23rd. The stock was acquired at an average cost of $16.75 per share, with a total value of $164,150.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 27.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of NMRK. Leeward Investments LLC MA bought a new position in shares of Newmark Group during the 1st quarter worth approximately $34,163,000. Wellington Management Group LLP bought a new position in shares of Newmark Group during the 3rd quarter worth approximately $24,635,000. Norges Bank bought a new position in shares of Newmark Group during the 4th quarter worth approximately $29,928,000. Vanguard Group Inc. grew its stake in shares of Newmark Group by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 26,213,288 shares of the company’s stock worth $417,315,000 after acquiring an additional 1,309,242 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Newmark Group by 142.3% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,176,781 shares of the company’s stock worth $34,654,000 after acquiring an additional 1,278,444 shares in the last quarter. 58.17% of the stock is owned by institutional investors.

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.

Read More

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.