Equities research analysts expect Newmark Group Inc (NASDAQ:NMRK) to announce sales of $686.25 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Newmark Group’s earnings, with the highest sales estimate coming in at $704.50 million and the lowest estimate coming in at $668.00 million. Newmark Group posted sales of $631.69 million in the same quarter last year, which suggests a positive year over year growth rate of 8.6%. The company is expected to announce its next earnings report on Tuesday, February 11th.
According to Zacks, analysts expect that Newmark Group will report full year sales of $2.27 billion for the current financial year, with estimates ranging from $2.25 billion to $2.29 billion. For the next year, analysts expect that the company will post sales of $2.39 billion, with estimates ranging from $2.35 billion to $2.42 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Newmark Group.
Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.03. The firm had revenue of $586.63 million for the quarter, compared to analyst estimates of $565.52 million. Newmark Group had a return on equity of 41.01% and a net margin of 6.44%. The business’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 earnings per share.
A number of research analysts have recently commented on NMRK shares. ValuEngine downgraded shares of Newmark Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Zacks Investment Research upgraded Newmark Group from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Wednesday, October 23rd. Finally, Bank of America initiated coverage on Newmark Group in a report on Friday, October 18th. They issued a “buy” rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $14.00.
Several institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new position in shares of Newmark Group during the second quarter worth about $32,000. LifePlan Financial Group Inc purchased a new position in shares of Newmark Group in the third quarter valued at $33,000. Baldwin Brothers Inc. MA acquired a new position in shares of Newmark Group during the 3rd quarter worth $34,000. Quad Cities Investment Group LLC purchased a new stake in shares of Newmark Group in the 3rd quarter worth about $42,000. Finally, Glassman Wealth Services acquired a new position in Newmark Group during the second quarter worth about $44,000. Hedge funds and other institutional investors own 55.76% of the company’s stock.
Shares of NASDAQ:NMRK traded down $0.03 during mid-day trading on Friday, reaching $13.00. 12,477 shares of the stock were exchanged, compared to its average volume of 946,252. The stock’s 50 day simple moving average is $11.40 and its 200-day simple moving average is $9.61. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.64. The company has a market cap of $2.35 billion, a P/E ratio of 8.54, a P/E/G ratio of 0.91 and a beta of 1.43. Newmark Group has a one year low of $7.02 and a one year high of $13.23.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Monday, November 18th. Newmark Group’s dividend payout ratio (DPR) is currently 26.32%.
Newmark Group Company Profile
Newmark Group, Inc provides commercial real estate services in the United States and internationally. Its investor/owner services and products include capital markets, such as investment sales; and agency leasing, property management, valuation and advisory, and diligence and underwriting, as well as government sponsored enterprise lending, loan servicing, debt and structured finance, and loan sales under the Newmark Knight Frank name.
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