Analysts expect Newmark Group, Inc. (NASDAQ:NMRK) to announce $549.60 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Newmark Group's earnings, with the highest sales estimate coming in at $590.40 million and the lowest estimate coming in at $526.40 million. Newmark Group posted sales of $383.72 million during the same quarter last year, which would indicate a positive year over year growth rate of 43.2%. The business is expected to report its next quarterly earnings results on Thursday, August 5th.
According to Zacks, analysts expect that Newmark Group will report full year sales of $2.40 billion for the current fiscal year, with estimates ranging from $2.37 billion to $2.45 billion. For the next year, analysts forecast that the company will post sales of $2.78 billion, with estimates ranging from $2.63 billion to $2.95 billion. Zacks' sales calculations are a mean average based on a survey of research firms that that provide coverage for Newmark Group.
Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Thursday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.08. Newmark Group had a return on equity of 30.14% and a net margin of 5.45%.
Several research firms have commented on NMRK. TheStreet raised shares of Newmark Group from a "d+" rating to a "c-" rating in a report on Thursday, February 18th. Wedbush reaffirmed a "neutral" rating on shares of Newmark Group in a research note on Friday, March 12th. Zacks Investment Research lowered shares of Newmark Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 22nd. Bank of America upgraded shares of Newmark Group from an "underperform" rating to a "buy" rating and set a $20.00 price objective for the company in a report on Thursday, February 25th. Finally, Piper Sandler upgraded shares of Newmark Group from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $7.50 to $12.00 in a report on Friday, February 19th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of "Buy" and a consensus target price of $12.00.
Institutional investors have recently modified their holdings of the company. Federated Hermes Inc. boosted its holdings in Newmark Group by 122.7% during the first quarter. Federated Hermes Inc. now owns 3,018 shares of the company's stock worth $30,000 after buying an additional 1,663 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Newmark Group by 0.9% in the fourth quarter. Swiss National Bank now owns 339,307 shares of the company's stock valued at $2,474,000 after purchasing an additional 2,900 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Newmark Group by 22.3% during the first quarter. Teacher Retirement System of Texas now owns 16,900 shares of the company's stock valued at $169,000 after buying an additional 3,082 shares during the period. FIL Ltd lifted its stake in shares of Newmark Group by 20.6% during the first quarter. FIL Ltd now owns 20,500 shares of the company's stock valued at $205,000 after buying an additional 3,500 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Newmark Group by 5.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 88,410 shares of the company's stock valued at $645,000 after buying an additional 4,517 shares during the period. Institutional investors and hedge funds own 56.80% of the company's stock.
NASDAQ NMRK opened at $13.06 on Friday. 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 firm has a fifty day moving average price of $11.84. Newmark Group has a 1 year low of $3.87 and a 1 year high of $13.32. The firm has a market cap of $2.39 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 0.94 and a beta of 1.89.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 14th. Shareholders of record on Wednesday, May 26th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, May 25th. This represents a $0.04 dividend on an annualized basis and a yield of 0.31%. Newmark Group's dividend payout ratio is presently 4.30%.
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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