Wall Street analysts expect that Newmark Group Inc (NASDAQ:NMRK) will announce $0.42 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Newmark Group’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.41. Newmark Group reported earnings per share of $0.30 during the same quarter last year, which would indicate a positive year over year growth rate of 40%. The company is scheduled to issue its next quarterly earnings report on Friday, February 8th.
On average, analysts expect that Newmark Group will report full-year earnings of $1.49 per share for the current fiscal year, with EPS estimates ranging from $1.48 to $1.50. For the next fiscal year, analysts forecast that the firm will report earnings of $1.62 per share, with EPS estimates ranging from $1.60 to $1.65. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Newmark Group.
Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The business had revenue of $518.81 million during the quarter, compared to the consensus estimate of $510.60 million. Newmark Group had a return on equity of 67.99% and a net margin of 2.28%.
A number of research firms have recently commented on NMRK. Zacks Investment Research upgraded Newmark Group from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, July 11th. Raymond James dropped their price objective on Newmark Group from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, September 27th. Finally, Sandler O’Neill upgraded Newmark Group from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Friday, October 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $17.86.
A number of hedge funds have recently added to or reduced their stakes in NMRK. BlackRock Inc. acquired a new stake in Newmark Group during the first quarter worth about $44,699,000. Millennium Management LLC grew its position in Newmark Group by 263.7% during the first quarter. Millennium Management LLC now owns 708,445 shares of the company’s stock worth $10,761,000 after buying an additional 513,674 shares in the last quarter. Northern Trust Corp grew its position in Newmark Group by 3,090.2% during the first quarter. Northern Trust Corp now owns 474,706 shares of the company’s stock worth $7,211,000 after buying an additional 459,826 shares in the last quarter. Systematic Financial Management LP grew its position in Newmark Group by 41.5% during the second quarter. Systematic Financial Management LP now owns 1,094,552 shares of the company’s stock worth $15,575,000 after buying an additional 320,839 shares in the last quarter. Finally, River Road Asset Management LLC grew its position in Newmark Group by 89.0% during the second quarter. River Road Asset Management LLC now owns 667,866 shares of the company’s stock worth $9,504,000 after buying an additional 314,546 shares in the last quarter. 13.86% of the stock is currently owned by institutional investors and hedge funds.
Newmark Group stock opened at $9.71 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $1.52 billion and a PE ratio of 8.44. Newmark Group has a 52 week low of $9.33 and a 52 week high of $16.98.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Investors of record on Wednesday, November 7th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, November 6th. Newmark Group’s dividend payout ratio (DPR) is presently 31.30%.
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 Berkeley Point and NKF Capital Markets names.
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