Analysts Expect Newmark Group Inc (NASDAQ:NMRK) Will Post Quarterly Sales of $565.70 Million

Analysts predict that Newmark Group Inc (NASDAQ:NMRK) will announce $565.70 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Newmark Group’s earnings. The highest sales estimate is $567.40 million and the lowest is $564.00 million. Newmark Group posted sales of $518.81 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The business is scheduled to announce its next quarterly earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Newmark Group will report full-year sales of $2.26 billion for the current fiscal year, with estimates ranging from $2.26 billion to $2.27 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.39 billion, with estimates ranging from $2.35 billion to $2.43 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Newmark Group.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. The company had revenue of $551.50 million during the quarter, compared to the consensus estimate of $513.63 million. Newmark Group had a return on equity of 40.24% and a net margin of 5.69%. The firm’s revenue was up 18.2% compared to the same quarter last year.

NMRK has been the subject of a number of recent research reports. ValuEngine upgraded Newmark Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Compass Point initiated coverage on Newmark Group in a research note on Wednesday, July 10th. They set a “buy” rating and a $14.00 price target for the company. Finally, Zacks Investment Research upgraded Newmark Group from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Saturday, August 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $14.00.

Several institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC purchased a new position in shares of Newmark Group during the 2nd quarter valued at about $32,000. Coastal Investment Advisors Inc. purchased a new position in shares of Newmark Group during the 2nd quarter valued at about $43,000. Glassman Wealth Services purchased a new position in shares of Newmark Group during the 2nd quarter valued at about $44,000. Advisor Group Inc. purchased a new position in shares of Newmark Group during the 2nd quarter valued at about $83,000. Finally, CIBC Asset Management Inc purchased a new position in shares of Newmark Group during the 2nd quarter valued at about $97,000. Institutional investors and hedge funds own 55.84% of the company’s stock.

Shares of Newmark Group stock traded down $0.15 during trading hours on Thursday, reaching $8.59. 806,100 shares of the stock traded hands, compared to its average volume of 1,055,795. The company has a 50 day moving average price of $9.43 and a 200 day moving average price of $9.01. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 5.65, a P/E/G ratio of 0.63 and a beta of 1.19. Newmark Group has a one year low of $7.02 and a one year high of $13.00. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.60.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, August 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.66%. Newmark Group’s dividend payout ratio is currently 26.32%.

About Newmark Group

Newmark Group, Inc provides commercial real estate services in the United States and internationally. Its investor/owner services and products include capital markets, such as investment sales; and agency leasing, property management, valuation and advisory, and diligence and underwriting, as well as government sponsored enterprise lending, loan servicing, debt and structured finance, and loan sales under the Newmark Knight Frank name.

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