Newmark Group (NASDAQ:NMRK) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Newmark Group (NASDAQ:NMRKGet Free Report) released its earnings results on Tuesday. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03, Briefing.com reports. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The business had revenue of $685.90 million during the quarter, compared to the consensus estimate of $682.07 million. During the same quarter last year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Newmark Group updated its FY24 guidance to $1.11-$1.17 EPS and its FY 2024 guidance to 1.110-1.170 EPS.

Newmark Group Trading Down 1.0 %

Shares of Newmark Group stock opened at $14.75 on Thursday. Newmark Group has a 1 year low of $6.64 and a 1 year high of $16.10. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 56.73 and a beta of 2.01. The business has a fifty day simple moving average of $14.84 and a two-hundred day simple moving average of $12.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.49 and a quick ratio of 0.49.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, November 21st. Newmark Group’s payout ratio is presently 46.16%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 target price for the company in a research note on Friday, August 16th. Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $13.50 to $16.50 in a research report on Thursday, September 5th. Finally, Piper Sandler upped their target price on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd.

Read Our Latest Stock Analysis on NMRK

About Newmark Group

(Get Free Report)

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.

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Earnings History for Newmark Group (NASDAQ:NMRK)

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