Newmark Group, Inc. (NASDAQ:NMRK) Expected to Post Quarterly Sales of $581.95 Million

Analysts forecast that Newmark Group, Inc. (NASDAQ:NMRK – Get Rating) will post sales of $581.95 million for the current quarter, according to Zacks. Two analysts have issued estimates for Newmark Group’s earnings, with the lowest sales estimate coming in at $559.00 million and the highest estimate coming in at $604.90 million. Newmark Group posted sales of $503.98 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.5%. The company is scheduled to report its next quarterly earnings results on Thursday, May 5th.

On average, analysts expect that Newmark Group will report full-year sales of $3.08 billion for the current year. For the next fiscal year, analysts expect that the business will post sales of $3.40 billion, with estimates ranging from $3.29 billion to $3.51 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Newmark Group.

Newmark Group (NASDAQ:NMRK – Get Rating) last posted its quarterly earnings results on Friday, February 11th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.09. Newmark Group had a return on equity of 28.92% and a net margin of 23.68%. The firm had revenue of $984.50 million during the quarter, compared to the consensus estimate of $876.23 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was up 63.7% compared to the same quarter last year.

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Several equities research analysts have recently weighed in on NMRK shares. TheStreet raised Newmark Group from a “c” rating to a “b-” rating in a research report on Wednesday, November 3rd. Raymond James upped their target price on Newmark Group from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, November 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.00.

In other Newmark Group news, Chairman Howard W. Lutnick purchased 9,800 shares of the business’s stock in a transaction that occurred on Wednesday, February 23rd. The shares were acquired at an average price of $16.75 per share, for a total transaction of $164,150.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Howard W. Lutnick purchased 227,000 shares of the business’s stock in a transaction that occurred on Friday, February 11th. The stock was acquired at an average price of $17.36 per share, for a total transaction of $3,940,720.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 286,800 shares of company stock worth $4,931,370. Insiders own 27.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System raised its stake in Newmark Group by 1.5% during the fourth quarter. Arizona State Retirement System now owns 46,916 shares of the company’s stock valued at $877,000 after buying an additional 683 shares in the last quarter. Metropolitan Life Insurance Co NY raised its stake in Newmark Group by 2.0% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 37,518 shares of the company’s stock valued at $702,000 after buying an additional 725 shares in the last quarter. UBS Group AG raised its stake in Newmark Group by 1.9% during the third quarter. UBS Group AG now owns 43,371 shares of the company’s stock valued at $621,000 after buying an additional 826 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Newmark Group by 3.6% during the third quarter. Mercer Global Advisors Inc. ADV now owns 33,551 shares of the company’s stock valued at $480,000 after buying an additional 1,176 shares in the last quarter. Finally, Credit Suisse AG raised its stake in Newmark Group by 1.0% during the fourth quarter. Credit Suisse AG now owns 131,170 shares of the company’s stock valued at $2,454,000 after buying an additional 1,306 shares in the last quarter. Hedge funds and other institutional investors own 51.09% of the company’s stock.

Shares of NASDAQ NMRK opened at $16.95 on Friday. Newmark Group has a 1-year low of $9.35 and a 1-year high of $19.10. The business has a 50-day moving average of $16.59 and a 200-day moving average of $15.35. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 5.87, a PEG ratio of 0.86 and a beta of 1.77.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 15th. Investors of record on Tuesday, March 1st will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Monday, February 28th. Newmark Group’s dividend payout ratio (DPR) is 1.38%.

About Newmark Group (Get Rating)

Newmark Group Inc engages in the provision of commercial real estate services. It offers its services to commercial real estate tenants, investors, owners, occupiers, developers, leasing and corporate advisory, investment sales and real estate finance, consulting, origination and servicing of commercial mortgage loans, valuation, project and development management and property and facility management.

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Earnings History and Estimates for Newmark Group (NASDAQ:NMRK)

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