$686.25 Million in Sales Expected for Newmark Group Inc (NASDAQ:NMRK) This Quarter

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Wall Street brokerages expect Newmark Group Inc (NASDAQ:NMRK) to announce sales of $686.25 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Newmark Group’s earnings, with the lowest sales estimate coming in at $668.00 million and the highest estimate coming in at $704.50 million. Newmark Group posted sales of $631.69 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The company is expected to issue its next quarterly earnings report on Tuesday, February 11th.

On average, analysts expect that Newmark Group will report full-year sales of $2.26 billion for the current financial year, with estimates ranging from $2.25 billion to $2.27 billion. For the next financial year, analysts forecast that the firm will post sales of $2.39 billion, with estimates ranging from $2.35 billion to $2.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Newmark Group.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Wednesday, October 30th. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. The company had revenue of $586.63 million for the quarter, compared to the consensus estimate of $565.52 million. Newmark Group had a return on equity of 40.72% and a net margin of 6.44%. Newmark Group’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 earnings per share.

Several analysts recently weighed in on NMRK shares. ValuEngine downgraded shares of Newmark Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Bank of America started coverage on shares of Newmark Group in a report on Friday, October 18th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Newmark Group from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $14.00.

NASDAQ NMRK traded up $0.26 on Thursday, hitting $12.08. 1,316,000 shares of the company traded hands, compared to its average volume of 981,090. Newmark Group has a 52-week low of $7.02 and a 52-week high of $12.15. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average price is $9.75 and its 200-day moving average price is $9.10. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 7.95, a P/E/G ratio of 0.81 and a beta of 1.30.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Tuesday, November 19th will be issued a $0.10 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.40 annualized dividend and a yield of 3.31%. Newmark Group’s dividend payout ratio (DPR) is presently 26.32%.

A number of institutional investors have recently bought and sold shares of NMRK. Steward Partners Investment Advisory LLC acquired a new position in Newmark Group during the 2nd quarter worth $32,000. LifePlan Financial Group Inc acquired a new stake in shares of Newmark Group during the third quarter worth approximately $33,000. Baldwin Brothers Inc. MA acquired a new stake in shares of Newmark Group during the third quarter worth approximately $34,000. Quad Cities Investment Group LLC acquired a new stake in shares of Newmark Group during the third quarter worth approximately $42,000. Finally, Coastal Investment Advisors Inc. acquired a new stake in shares of Newmark Group during the second quarter worth approximately $43,000. Hedge funds and other institutional investors own 57.09% 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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