Wall Street brokerages expect Newmark Group Inc (NASDAQ:NMRK) to post earnings per share of $0.59 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Newmark Group’s earnings. Newmark Group also reported earnings of $0.59 per share in the same quarter last year. The company 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 earnings of $1.63 per share for the current fiscal year, with EPS estimates ranging from $1.60 to $1.65. For the next year, analysts forecast that the business will report earnings of $1.73 per share, with EPS estimates ranging from $1.70 to $1.77. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Newmark Group.
Newmark Group (NASDAQ:NMRK) last announced its earnings results on Thursday, August 1st. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $551.50 million for the quarter, compared to the consensus estimate of $513.63 million. Newmark Group had a net margin of 5.69% and a return on equity of 40.24%. Newmark Group’s quarterly revenue was up 18.2% compared to the same quarter last year.
In other Newmark Group news, CEO Barry M. Gosin purchased 561,084 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of $7.71 per share, with a total value of $4,325,957.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 90.95% of the company’s stock.
Several hedge funds have recently bought and sold shares of NMRK. Systematic Financial Management LP purchased a new position in shares of Newmark Group in the second quarter worth $14,077,000. Wintrust Investments LLC purchased a new position in shares of Newmark Group in the second quarter worth $2,528,000. Yorktown Management & Research Co Inc purchased a new position in shares of Newmark Group in the second quarter worth $2,509,000. Swiss National Bank purchased a new position in shares of Newmark Group in the second quarter worth $2,206,000. Finally, Bowling Portfolio Management LLC purchased a new position in shares of Newmark Group in the second quarter worth $1,153,000. 55.81% of the stock is currently owned by hedge funds and other institutional investors.
NMRK traded up $0.01 on Tuesday, reaching $8.72. The company had a trading volume of 7,338 shares, compared to its average volume of 707,369. The business has a 50 day moving average of $9.38. The stock has a market capitalization of $1.57 billion, a P/E ratio of 5.74, a price-to-earnings-growth ratio of 0.69 and a beta of 1.19. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.43 and a current ratio of 0.43. Newmark Group has a 52-week low of $7.02 and a 52-week high of $13.88.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Tuesday, August 20th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Monday, August 19th. 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Newmark Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmark Group and related companies with MarketBeat.com's FREE daily email newsletter.