Analysts Expect Newmark Group Inc (NMRK) Will Announce Quarterly Sales of $387.75 Million

Analysts predict that Newmark Group Inc (NASDAQ:NMRK) will announce sales of $387.75 million for the current quarter, according to Zacks. Two analysts have made estimates for Newmark Group’s earnings, with the highest sales estimate coming in at $393.00 million and the lowest estimate coming in at $382.50 million. The firm is scheduled to report its next quarterly earnings report on Friday, May 11th.

According to Zacks, analysts expect that Newmark Group will report full year sales of $387.75 million for the current year, with estimates ranging from $1.92 billion to $1.98 billion. For the next year, analysts forecast that the business will report sales of $2.19 billion per share, with estimates ranging from $2.16 billion to $2.23 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Newmark Group.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Friday, February 9th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $460.60 million during the quarter, compared to the consensus estimate of $428.10 million. During the same period in the previous year, the business earned $0.31 earnings per share.

NMRK has been the topic of several recent analyst reports. Sandler O’Neill initiated coverage on Newmark Group in a research note on Tuesday, January 9th. They issued a “buy” rating and a $18.50 target price on the stock. Bank of America initiated coverage on Newmark Group in a research note on Tuesday, January 9th. They issued a “buy” rating and a $20.00 target price on the stock. Wedbush initiated coverage on Newmark Group in a research note on Tuesday, January 9th. They issued an “outperform” rating and a $20.00 target price on the stock. Raymond James Financial initiated coverage on Newmark Group in a research note on Tuesday, February 6th. They issued an “outperform” rating and a $21.00 target price on the stock. Finally, Goldman Sachs Group initiated coverage on Newmark Group in a research note on Tuesday, January 9th. They issued a “buy” rating and a $24.00 target price on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $20.08.

Newmark Group (NASDAQ NMRK) traded down $0.04 during midday trading on Wednesday, hitting $14.86. The company had a trading volume of 377,248 shares, compared to its average volume of 438,067. Newmark Group has a 12 month low of $13.72 and a 12 month high of $16.98.

A number of institutional investors have recently bought and sold shares of NMRK. Emerald Advisers Inc. PA bought a new stake in Newmark Group during the 4th quarter valued at approximately $1,368,000. Strycker View Capital LLC bought a new stake in Newmark Group during the 4th quarter valued at approximately $4,543,000. Wells Fargo & Company MN bought a new stake in Newmark Group during the 4th quarter valued at approximately $153,000. The Manufacturers Life Insurance Company bought a new stake in Newmark Group during the 4th quarter valued at approximately $20,723,000. Finally, Monashee Investment Management LLC bought a new stake in Newmark Group during the 4th quarter valued at approximately $7,950,000. 0.43% of the stock is currently owned by institutional investors and hedge funds.

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About Newmark Group

Newmark Group, Inc is a commercial real estate services company. The Company is focused on offering products and services to both owners and occupiers across the entire commercial real estate industry. Its investor/owner services and products include capital markets, which consists of investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory, diligence and underwriting and government-sponsored enterprise lending and loan servicing.

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

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