Wall Street brokerages forecast that Newmark Group Inc (NASDAQ:NMRK) will report sales of $507.00 million for the current quarter, according to Zacks. Two analysts have provided estimates for Newmark Group’s earnings, with estimates ranging from $497.00 million to $517.00 million. Newmark Group reported sales of $466.62 million during the same quarter last year, which indicates a positive year-over-year growth rate of 8.7%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, August 1st.
According to Zacks, analysts expect that Newmark Group will report full-year sales of $2.21 billion for the current year, with estimates ranging from $2.18 billion to $2.24 billion. For the next financial year, analysts anticipate that the company will post sales of $2.37 billion, with estimates ranging from $2.32 billion to $2.42 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Newmark Group.
Newmark Group (NASDAQ:NMRK) last issued its earnings results on Thursday, May 9th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Newmark Group had a return on equity of 41.41% and a net margin of 4.86%. The firm had revenue of $447.70 million during the quarter, compared to analyst estimates of $476.72 million. During the same period in the previous year, the company earned $0.19 EPS. Newmark Group’s revenue for the quarter was up 4.0% on a year-over-year basis.
A number of equities analysts have issued reports on NMRK shares. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Compass Point started coverage on Jones Lang LaSalle in a report on Wednesday, July 10th. They issued a “buy” rating and a $180.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Newmark Group presently has an average rating of “Buy” and an average price target of $13.75.
NMRK traded down $0.02 on Tuesday, reaching $9.92. The stock had a trading volume of 767,538 shares, compared to its average volume of 711,216. Newmark Group has a fifty-two week low of $7.02 and a fifty-two week high of $14.68. The firm’s 50-day moving average price is $8.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market cap of $1.77 billion, a P/E ratio of 6.53, a price-to-earnings-growth ratio of 0.72 and a beta of 1.17.
In related news, CEO Barry M. Gosin purchased 561,084 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was bought at an average price of $7.71 per share, with a total value of $4,325,957.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 90.95% of the company’s stock.
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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