Newmark Group Inc (NMRK) Expected to Post Quarterly Sales of $473.60 Million

Wall Street brokerages expect that Newmark Group Inc (NASDAQ:NMRK) will announce sales of $473.60 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Newmark Group’s earnings. The lowest sales estimate is $470.20 million and the highest is $477.00 million. Newmark Group posted sales of $430.46 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, May 9th.

On average, analysts expect that Newmark Group will report full-year sales of $2.21 billion for the current financial year, with estimates ranging from $2.17 billion to $2.25 billion. For the next fiscal year, analysts expect that the company will post sales of $2.35 billion, with estimates ranging from $2.29 billion to $2.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Newmark Group.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Tuesday, February 12th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $631.70 million during the quarter, compared to the consensus estimate of $591.66 million. Newmark Group had a return on equity of 47.34% and a net margin of 5.06%. The business’s quarterly revenue was up 37.1% compared to the same quarter last year.

A number of research analysts recently commented on NMRK shares. Zacks Investment Research raised Newmark Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 1st. Wedbush reduced their price target on Newmark Group from $20.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, February 28th. Finally, ValuEngine downgraded Newmark Group from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $14.50.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC raised its stake in Newmark Group by 0.4% during the third quarter. Neuberger Berman Group LLC now owns 921,727 shares of the company’s stock valued at $10,314,000 after buying an additional 3,525 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Newmark Group by 99.9% during the third quarter. Point72 Asset Management L.P. now owns 624,814 shares of the company’s stock valued at $6,992,000 after buying an additional 312,214 shares in the last quarter. United Services Automobile Association raised its stake in Newmark Group by 5.8% during the third quarter. United Services Automobile Association now owns 158,722 shares of the company’s stock valued at $1,776,000 after buying an additional 8,702 shares in the last quarter. Marshall Wace LLP acquired a new stake in Newmark Group during the third quarter valued at approximately $1,602,000. Finally, Renaissance Technologies LLC acquired a new stake in Newmark Group during the third quarter valued at approximately $1,467,000. Hedge funds and other institutional investors own 56.90% of the company’s stock.

NMRK traded down $0.02 on Tuesday, reaching $8.38. The company’s stock had a trading volume of 1,413,869 shares, compared to its average volume of 889,607. The company has a market capitalization of $1.49 billion, a P/E ratio of 5.51, a P/E/G ratio of 0.52 and a beta of 1.13. Newmark Group has a 1 year low of $7.34 and a 1 year high of $15.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.43 and a current ratio of 0.43.

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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