Zacks: Brokerages Expect Newmark Group Inc (NMRK) Will Announce Quarterly Sales of $503.60 Million

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Wall Street analysts expect Newmark Group Inc (NASDAQ:NMRK) to post sales of $503.60 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Newmark Group’s earnings, with the lowest sales estimate coming in at $491.20 million and the highest estimate coming in at $516.00 million. The firm is scheduled to issue its next earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Newmark Group will report full-year sales of $1.97 billion for the current year, with estimates ranging from $1.95 billion to $1.99 billion. For the next year, analysts forecast that the business will post sales of $2.22 billion per share, with estimates ranging from $2.19 billion to $2.24 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Newmark Group.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $0.25 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. The company had revenue of $466.62 million during the quarter, compared to the consensus estimate of $472.50 million.

A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of Newmark Group from a “hold” rating to a “sell” rating in a research note on Tuesday, April 17th. ValuEngine downgraded shares of Newmark Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Sandler O’Neill downgraded shares of Newmark Group from a “buy” rating to a “hold” rating in a report on Friday, May 4th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $19.50.

Shares of Newmark Group stock traded down $0.22 during trading on Friday, hitting $12.95. The company’s stock had a trading volume of 130,126 shares, compared to its average volume of 139,651. The firm has a market cap of $2.04 billion and a price-to-earnings ratio of 11.26. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.34 and a quick ratio of 0.34. Newmark Group has a 52 week low of $12.92 and a 52 week high of $16.98.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 5th. Shareholders of record on Monday, August 20th will be issued a $0.09 dividend. The ex-dividend date is Friday, August 17th. This represents a $0.36 dividend on an annualized basis and a yield of 2.78%. Newmark Group’s dividend payout ratio is presently 31.30%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in Newmark Group by 127.3% in the 1st quarter. Wells Fargo & Company MN now owns 21,813 shares of the company’s stock worth $331,000 after purchasing an additional 12,217 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Newmark Group in the 4th quarter worth $3,825,000. Millennium Management LLC acquired a new stake in shares of Newmark Group in the 4th quarter worth $3,097,000. Neuberger Berman Group LLC increased its stake in shares of Newmark Group by 10.5% in the 1st quarter. Neuberger Berman Group LLC now owns 552,615 shares of the company’s stock worth $8,394,000 after acquiring an additional 52,615 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Newmark Group during the 1st quarter worth about $1,276,000. Hedge funds and other institutional investors own 15.28% 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 Berkeley Point and NKF Capital Markets names.

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