Zacks: Analysts Expect Newmark Group, Inc. (NASDAQ:NMRK) to Post $0.22 Earnings Per Share

Brokerages expect that Newmark Group, Inc. (NASDAQ:NMRK) will post $0.22 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Newmark Group’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.27. Newmark Group reported earnings of $0.10 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 120%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Friday, August 6th.

According to Zacks, analysts expect that Newmark Group will report full year earnings of $1.16 per share for the current fiscal year, with EPS estimates ranging from $0.95 to $1.48. For the next fiscal year, analysts forecast that the business will post earnings of $1.40 per share, with EPS estimates ranging from $1.20 to $1.71. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Newmark Group.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Thursday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.08. Newmark Group had a return on equity of 30.14% and a net margin of 5.45%. The firm had revenue of $503.98 million during the quarter, compared to the consensus estimate of $372.13 million.

A number of equities research analysts have issued reports on NMRK shares. Zacks Investment Research downgraded Newmark Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Wolfe Research initiated coverage on Newmark Group in a research report on Monday, June 14th. They set an “outperform” rating and a $22.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.43.

NMRK stock opened at $11.86 on Thursday. The firm’s 50-day moving average price is $12.47. Newmark Group has a 12-month low of $3.87 and a 12-month high of $13.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market capitalization of $2.17 billion, a P/E ratio of 23.26, a PEG ratio of 1.01 and a beta of 1.88.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 14th. Investors of record on Wednesday, May 26th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Tuesday, May 25th. Newmark Group’s dividend payout ratio (DPR) is 4.30%.

A number of hedge funds and other institutional investors have recently made changes to their positions in NMRK. FIL Ltd acquired a new stake in Newmark Group during the fourth quarter valued at approximately $124,000. Wells Fargo & Company MN raised its stake in Newmark Group by 5.0% during the fourth quarter. Wells Fargo & Company MN now owns 405,299 shares of the company’s stock valued at $2,954,000 after buying an additional 19,160 shares in the last quarter. Rhumbline Advisers raised its stake in Newmark Group by 14.0% during the fourth quarter. Rhumbline Advisers now owns 259,070 shares of the company’s stock valued at $1,889,000 after buying an additional 31,834 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Newmark Group during the fourth quarter valued at approximately $101,000. Finally, Citigroup Inc. raised its stake in Newmark Group by 48.5% during the fourth quarter. Citigroup Inc. now owns 42,815 shares of the company’s stock valued at $312,000 after buying an additional 13,986 shares in the last quarter. Hedge funds and other institutional investors own 56.79% of the company’s stock.

About Newmark Group

Newmark Group, Inc provides commercial real estate services in the United States and internationally. The company's investor/owner services and products include capital markets, such as investment, debt and structured finance, and loan sales; agency leasing, property management, and valuation and advisory; and commercial real estate due diligence consulting and advisory services, as well as government sponsored enterprise lending, loan servicing, mortgage broking, and equity-raising services.

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