Zacks: Brokerages Anticipate Newmark Group Inc (NASDAQ:NMRK) to Announce $0.56 Earnings Per Share

Wall Street brokerages predict that Newmark Group Inc (NASDAQ:NMRK) will post $0.56 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Newmark Group’s earnings. The highest EPS estimate is $0.57 and the lowest is $0.55. Newmark Group posted earnings of $0.45 per share in the same quarter last year, which would suggest a positive year over year growth rate of 24.4%. The firm is expected to issue its next earnings results on Tuesday, February 11th.

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On average, analysts expect that Newmark Group will report full-year earnings of $1.66 per share for the current year, with EPS estimates ranging from $1.65 to $1.68. For the next fiscal year, analysts anticipate that the business will post earnings of $1.79 per share, with EPS estimates ranging from $1.75 to $1.84. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow Newmark Group.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Wednesday, October 30th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Newmark Group had a net margin of 6.44% and a return on equity of 40.72%. The firm had revenue of $586.63 million during the quarter, compared to analyst estimates of $565.52 million. During the same quarter in the previous year, the business earned $0.58 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year.

Several equities research analysts have commented on NMRK shares. Bank of America started coverage on shares of Newmark Group in a research report on Friday, October 18th. They set a “buy” rating and a $15.00 price target on the stock. Zacks Investment Research raised shares of Newmark Group from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Wednesday, October 23rd. Finally, ValuEngine cut shares of Newmark Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $14.00.

A number of large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Newmark Group by 18.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,640 shares of the company’s stock worth $133,000 after buying an additional 2,296 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Newmark Group during the 2nd quarter worth about $32,000. LifePlan Financial Group Inc bought a new stake in Newmark Group during the 3rd quarter worth about $33,000. Baldwin Brothers Inc. MA bought a new stake in Newmark Group during the 3rd quarter worth about $34,000. Finally, Quad Cities Investment Group LLC bought a new stake in Newmark Group during the 3rd quarter worth about $42,000. 57.09% of the stock is currently owned by hedge funds and other institutional investors.

NMRK traded up $0.26 during trading on Tuesday, reaching $12.08. 1,316,000 shares of the company’s stock were exchanged, compared to its average volume of 981,090. The firm has a market capitalization of $2.06 billion, a PE ratio of 7.95, a P/E/G ratio of 0.81 and a beta of 1.30. Newmark Group has a fifty-two week low of $7.02 and a fifty-two week high of $12.15. The company’s fifty day moving average price is $9.75 and its 200-day moving average price is $9.10. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.46 and a current ratio of 0.50.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, November 18th. This represents a $0.40 annualized dividend and a yield of 3.31%. Newmark Group’s dividend payout ratio (DPR) is presently 26.32%.

About Newmark Group

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

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