$0.24 Earnings Per Share Expected for Newmark Group Inc (NMRK) This Quarter

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Equities research analysts expect that Newmark Group Inc (NASDAQ:NMRK) will announce earnings per share of $0.24 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Newmark Group’s earnings, with the highest EPS estimate coming in at $0.25 and the lowest estimate coming in at $0.24. Newmark Group reported earnings per share of $0.22 during the same quarter last year, which indicates a positive year-over-year growth rate of 9.1%. The firm is expected to report its next earnings report before the market opens on Thursday, May 9th.

On average, 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 financial year, analysts forecast that the firm will post earnings of $1.71 per share, with EPS estimates ranging from $1.70 to $1.71. Zacks’ EPS averages are an average based on a survey of analysts that cover Newmark Group.

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

Several research analysts have recently weighed in on NMRK shares. Zacks Investment Research lowered shares of Newmark Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. ValuEngine lowered shares of Newmark Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Finally, Wedbush lowered 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 note on Thursday, February 28th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Newmark Group presently has an average rating of “Hold” and a consensus price target of $14.50.

Newmark Group stock opened at $8.47 on Friday. The stock has a market cap of $1.53 billion, a PE ratio of 5.68, a PEG ratio of 0.53 and a beta of 1.13. Newmark Group has a fifty-two week low of $7.34 and a fifty-two week high of $15.86. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.51.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Neuberger Berman Group LLC grew its stake in Newmark Group by 0.4% in the 3rd 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 during the last quarter. Alliancebernstein L.P. boosted its holdings in Newmark Group by 37.5% in the 3rd quarter. Alliancebernstein L.P. now owns 24,200 shares of the company’s stock valued at $271,000 after purchasing an additional 6,600 shares during the period. JPMorgan Chase & Co. boosted its holdings in Newmark Group by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,490 shares of the company’s stock valued at $128,000 after purchasing an additional 6,860 shares during the period. United Services Automobile Association boosted its holdings in Newmark Group by 5.8% in the 3rd quarter. United Services Automobile Association now owns 158,722 shares of the company’s stock valued at $1,776,000 after purchasing an additional 8,702 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Newmark Group by 24.9% in the 3rd quarter. Wells Fargo & Company MN now owns 53,558 shares of the company’s stock valued at $599,000 after purchasing an additional 10,679 shares during the period. Institutional investors and hedge funds own 56.90% of the company’s stock.

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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