Newmark Group (NMRK) Reaches New 12-Month Low After Earnings Miss

Newmark Group Inc (NASDAQ:NMRK)’s share price hit a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $7.02 and last traded at $7.52, with a volume of 66787 shares trading hands. The stock had previously closed at $7.59.

The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The company had revenue of $447.70 million during the quarter, compared to analysts’ expectations of $476.72 million. Newmark Group had a return on equity of 42.37% and a net margin of 4.86%. Newmark Group’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.19 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.15%. This is a positive change from Newmark Group’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, May 24th. Newmark Group’s dividend payout ratio is 23.68%.

Several equities analysts recently weighed in on NMRK shares. ValuEngine lowered shares of Newmark Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Wedbush cut their price objective on shares of Newmark Group from $20.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, February 28th. Finally, Zacks Investment Research raised shares of Newmark Group from a “sell” rating to a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.50.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP bought a new position in Newmark Group during the third quarter valued at approximately $1,602,000. Renaissance Technologies LLC bought a new position in Newmark Group during the third quarter valued at approximately $1,467,000. Wells Fargo & Company MN raised its position in Newmark Group by 24.9% during the third quarter. Wells Fargo & Company MN now owns 53,558 shares of the company’s stock valued at $599,000 after acquiring an additional 10,679 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in Newmark Group during the third quarter valued at approximately $214,000. Finally, Great Lakes Advisors LLC bought a new position in Newmark Group during the third quarter valued at approximately $184,000. 57.24% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 5.11, a P/E/G ratio of 0.47 and a beta of 1.15. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.43 and a current ratio of 0.43.

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About Newmark Group (NASDAQ:NMRK)

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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