Zacks: Brokerages Anticipate Newmark Group Inc (NMRK) to Announce $0.23 EPS

Equities research analysts expect Newmark Group Inc (NASDAQ:NMRK) to post $0.23 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Newmark Group’s earnings, with estimates ranging from $0.15 to $0.31. The business is scheduled to issue its next quarterly earnings report on Friday, May 11th.

On average, analysts expect that Newmark Group will report full year earnings of $1.49 per share for the current year, with EPS estimates ranging from $1.47 to $1.51. For the next financial year, analysts forecast that the company will post earnings of $1.73 per share, with EPS estimates ranging from $1.66 to $1.80. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Newmark Group.

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

Several research analysts have issued reports on NMRK shares. Goldman Sachs started coverage on shares of Newmark Group in a report on Tuesday, January 9th. They issued a “buy” rating and a $24.00 target price for the company. Keefe, Bruyette & Woods started coverage on shares of Newmark Group in a report on Tuesday, January 9th. They issued a “market perform” rating and a $17.00 target price for the company. Wedbush initiated coverage on shares of Newmark Group in a report on Tuesday, January 9th. They issued an “outperform” rating and a $20.00 target price for the company. Bank of America initiated coverage on shares of Newmark Group in a research note on Tuesday, January 9th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Sandler O’Neill initiated coverage on shares of Newmark Group in a research note on Tuesday, January 9th. They issued a “buy” rating and a $18.50 price target for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $19.64.

Hedge funds have recently made changes to their positions in the company. Cardinal Capital Management LLC CT bought a new stake in shares of Newmark Group in the fourth quarter worth approximately $25,982,000. The Manufacturers Life Insurance Company bought a new stake in shares of Newmark Group in the fourth quarter worth approximately $20,723,000. Long Pond Capital LP bought a new stake in shares of Newmark Group in the fourth quarter worth approximately $15,900,000. Landscape Capital Management L.L.C. bought a new stake in shares of Newmark Group in the fourth quarter worth approximately $239,000. Finally, Emerald Advisers Inc. PA bought a new stake in shares of Newmark Group in the fourth quarter worth approximately $1,368,000. Hedge funds and other institutional investors own 12.76% of the company’s stock.

Shares of Newmark Group stock opened at $15.16 on Wednesday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.40 and a current ratio of 0.40. Newmark Group has a 52-week low of $13.72 and a 52-week high of $16.98.

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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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