Newmark Group (NASDAQ:NMRK - Get Free Report) announced its earnings results on Friday. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.01), Briefing.com reports. The firm had revenue of $546.50 million during the quarter, compared to analyst estimates of $526.07 million. Newmark Group had a net margin of 1.72% and a return on equity of 17.03%. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. Newmark Group updated its FY 2024 guidance to 1.100-1.150 EPS and its FY 2026 guidance to EPS.
Newmark Group Stock Performance
Shares of Newmark Group stock traded up $0.01 during trading hours on Friday, hitting $9.99. 1,282,232 shares of the company were exchanged, compared to its average volume of 840,375. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average of $10.46 and a 200-day moving average of $9.48. Newmark Group has a 1 year low of $5.07 and a 1 year high of $11.51. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 39.96 and a beta of 1.99.
Newmark Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, March 7th. Newmark Group's payout ratio is currently 48.00%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on NMRK. Piper Sandler restated an "overweight" rating and set a $13.00 target price on shares of Newmark Group in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods raised their price objective on shares of Newmark Group from $11.00 to $11.25 and gave the stock a "market perform" rating in a research report on Monday, February 26th.
Read Our Latest Stock Analysis on Newmark Group
About Newmark Group
(
Get Free Report)
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.
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