Newmark Group (NASDAQ:NMRK) released its quarterly earnings results on Thursday. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.03), Bloomberg Earnings reports. Newmark Group had a net margin of 6.44% and a return on equity of 41.01%. The business had revenue of $632.40 million for the quarter, compared to analysts’ expectations of $665.84 million. During the same period in the previous year, the company earned $0.45 EPS. Newmark Group’s revenue for the quarter was up .1% compared to the same quarter last year. Newmark Group updated its FY 2020
Pre-Market guidance to 1.70-1.76 EPS and its FY20 guidance to $1.70-1.76 EPS.
Shares of NMRK traded up $0.02 during trading hours on Friday, reaching $11.81. 21,264 shares of the company traded hands, compared to its average volume of 951,635. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average price of $12.29 and a 200-day moving average price of $10.98. Newmark Group has a 12-month low of $7.02 and a 12-month high of $13.85. The stock has a market capitalization of $2.17 billion, a P/E ratio of 15.48, a P/E/G ratio of 0.78 and a beta of 1.47.
Several analysts have recently issued reports on the stock. Bank of America initiated coverage on shares of Newmark Group in a research report on Friday, October 18th. They set a “buy” rating and a $15.00 target price on the stock. Piper Sandler lowered shares of Newmark Group from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $15.00 to $12.50 in a report on Friday. Wedbush downgraded Newmark Group from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $13.00 to $12.35 in a report on Friday. Zacks Investment Research lowered Newmark Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th. Finally, ValuEngine downgraded Newmark Group from a “hold” rating to a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.97.
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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