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. Its occupier services and products comprise tenant representation; real estate management technology systems; workplace and occupancy strategy; global corporate consulting; project management; account and transaction management; and lease administration and facilities management services. The company provides its services to commercial real estate tenants, investors, owners, occupiers, and developers, as well as lenders and multi-national corporations. As of December 31, 2021, it operated approximately 160 offices on four continents. The company was formerly known as Newmark Knight Frank and changed its name to Newmark Group, Inc. in October 2017. Newmark Group, Inc. was founded in 1929 and is based in New York, New York.
Newmark Group Trading Up 2.0 %
NASDAQ:NMRK traded up $0.21 on Friday, reaching $10.70. 971,295 shares of the company's stock were exchanged, compared to its average volume of 1,208,492. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 6.56 and a beta of 1.77. The business has a fifty day moving average of $10.25 and a 200-day moving average of $13.06. Newmark Group has a 52-week low of $8.66 and a 52-week high of $19.10.
Newmark Group (NASDAQ:NMRK - Get Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.10. The company had revenue of $755.40 million for the quarter, compared to analyst estimates of $670.04 million. Newmark Group had a net margin of 10.19% and a return on equity of 29.54%. The business's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share. As a group, analysts expect that Newmark Group will post 1.8 earnings per share for the current year.
Newmark Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Monday, August 15th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, August 12th. This represents a $0.12 dividend on an annualized basis and a yield of 1.12%. Newmark Group's dividend payout ratio (DPR) is presently 7.36%.
Analysts Set New Price Targets
NMRK has been the topic of several recent research reports. Raymond James lowered their price target on shares of Newmark Group from $21.00 to $18.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 26th. Piper Sandler reduced their price objective on shares of Newmark Group to $11.00 in a report on Monday, July 4th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Newmark Group currently has an average rating of "Hold" and a consensus target price of $16.00.
Insiders Place Their Bets
In other news, Chairman Howard W. Lutnick bought 329,000 shares of the business's stock in a transaction that occurred on Tuesday, June 14th. The shares were purchased at an average cost of $9.11 per share, for a total transaction of $2,997,190.00. Following the completion of the purchase, the chairman now owns 8,348,434 shares of the company's stock, valued at $76,054,233.74. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Chairman Howard W. Lutnick bought 277,000 shares of the business's stock in a transaction that occurred on Monday, May 23rd. The shares were purchased at an average cost of $10.83 per share, for a total transaction of $2,999,910.00. Following the completion of the purchase, the chairman now owns 8,019,434 shares of the company's stock, valued at $86,850,470.22. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Howard W. Lutnick bought 329,000 shares of the business's stock in a transaction that occurred on Tuesday, June 14th. The shares were purchased at an average price of $9.11 per share, for a total transaction of $2,997,190.00. Following the completion of the purchase, the chairman now directly owns 8,348,434 shares of the company's stock, valued at approximately $76,054,233.74. The disclosure for this purchase can be found here. Insiders own 27.10% of the company's stock.
