Newmark Group (NASDAQ:NMRK) Issues Earnings Results

Newmark Group (NASDAQ:NMRK) posted its quarterly earnings results on Friday. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01), Briefing.com reports. The firm had revenue of $546.50 million for the quarter, compared to analysts’ expectations of $526.07 million. Newmark Group had a net margin of 1.47% and a return on equity of 17.11%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 EPS. Newmark Group updated its FY 2024 guidance to 1.100-1.150 EPS and its FY 2026 guidance to EPS.

Newmark Group Trading Up 0.1 %

NMRK stock opened at $9.99 on Monday. The business’s 50-day moving average is $10.46 and its 200 day moving average is $9.51. Newmark Group has a 12-month low of $5.07 and a 12-month high of $11.51. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 45.41 and a beta of 1.99. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Thursday, March 7th. Newmark Group’s dividend payout ratio is presently 54.55%.

Wall Street Analyst Weigh In

NMRK has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their price objective on Newmark Group from $11.00 to $11.25 and gave the company a “market perform” rating in a report on Monday, February 26th. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price objective on shares of Newmark Group in a research note on Tuesday, March 26th.

About Newmark Group

Newmark Group, Inc provides commercial real estate services in the United States, the United Kingdom, and internationally. The company offers capital markets consisting of investment sales and commercial mortgage brokerage; landlord or agency representation leasing; valuation and advisory; property management; commercial real estate technology platform and capabilities; the United Kingdom business rates services; due diligence, consulting, and other advisory services; GSEs and the Federal Housing Administration lending services comprising multifamily lending and loan servicing; asset management; and flexible workspace solutions for owners.