Newmark Group (NASDAQ:NMRK) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Newmark Group (NASDAQ:NMRK) released its quarterly earnings results on Thursday. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02, Briefing.com reports. The business had revenue of $551.50 million during the quarter, compared to analysts’ expectations of $513.63 million. Newmark Group had a return on equity of 41.41% and a net margin of 4.86%. The firm’s revenue was up 18.2% on a year-over-year basis. Newmark Group updated its FY19 guidance to $1.60-1.70 EPS.

Newmark Group stock traded down $0.57 during mid-day trading on Friday, reaching $9.42. 1,024,050 shares of the company were exchanged, compared to its average volume of 630,089. The firm’s fifty day simple moving average is $9.33. Newmark Group has a 12 month low of $7.02 and a 12 month high of $13.88. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.60. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 6.20, a PEG ratio of 0.72 and a beta of 1.19.

Several analysts recently weighed in on the company. ValuEngine raised Newmark Group from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research cut Newmark Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, Compass Point assumed coverage on Newmark Group in a report on Wednesday, July 10th. They set a “buy” rating and a $14.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Newmark Group presently has a consensus rating of “Buy” and a consensus target price of $13.75.

In related news, CEO Barry M. Gosin acquired 561,084 shares of the stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of $7.71 per share, for a total transaction of $4,325,957.64. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 90.95% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of NMRK. Systematic Financial Management LP bought a new position in shares of Newmark Group in the 2nd quarter valued at $14,077,000. Yorktown Management & Research Co Inc bought a new position in shares of Newmark Group in the 2nd quarter valued at $2,509,000. Swiss National Bank bought a new position in shares of Newmark Group in the 2nd quarter valued at $2,206,000. Bowling Portfolio Management LLC bought a new position in shares of Newmark Group in the 2nd quarter valued at $1,153,000. Finally, Comerica Bank bought a new position in shares of Newmark Group in the 2nd quarter valued at $1,074,000. Hedge funds and other institutional investors own 56.41% of the company’s stock.

Newmark Group Company Profile

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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Earnings History for Newmark Group (NASDAQ:NMRK)

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