Newmark Group, Inc. Announces Quarterly Dividend of $0.03 (NASDAQ:NMRK)

Newmark Group, Inc. (NASDAQ:NMRK) declared a quarterly dividend on Monday, November 4th, Wall Street Journal reports. Stockholders of record on Thursday, November 21st will be paid a dividend of 0.03 per share on Thursday, December 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Thursday, November 21st.

Newmark Group has decreased its dividend payment by an average of 2.6% per year over the last three years. Newmark Group has a dividend payout ratio of 8.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Newmark Group to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 8.7%.

Newmark Group Stock Down 1.0 %

Newmark Group stock traded down $0.15 during mid-day trading on Wednesday, hitting $14.75. The company had a trading volume of 2,416,023 shares, compared to its average volume of 1,350,841. Newmark Group has a 12 month low of $6.64 and a 12 month high of $16.10. The stock’s 50 day moving average price is $14.81 and its two-hundred day moving average price is $12.32. The company has a market capitalization of $2.53 billion, a PE ratio of 56.73 and a beta of 2.01. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The company had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $682.07 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. Newmark Group’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmark Group will post 1.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

NMRK has been the subject of a number of research analyst reports. Wolfe Research upgraded Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Friday, August 16th. Keefe, Bruyette & Woods raised Newmark Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $13.50 to $16.50 in a research note on Thursday, September 5th. Finally, Piper Sandler raised their price target on Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd.

Newmark Group Company Profile

Newmark Group, Inc provides commercial real estate services in the United States, the United Kingdom, and internationally. The company offers capital markets consisting of investment sales and commercial mortgage brokerage; landlord or agency representation leasing; valuation and advisory; property management; commercial real estate technology platform and capabilities; the United Kingdom business rates services; due diligence, consulting, and other advisory services; GSEs and the Federal Housing Administration lending services comprising multifamily lending and loan servicing; asset management; and flexible workspace solutions for owners.