Newmark Group (NASDAQ:NMRK) Announces Earnings Results

Newmark Group (NASDAQ:NMRK) issued its earnings results on Friday. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01), Briefing.com reports. The firm had revenue of $546.50 million during the quarter, compared to analyst estimates of $526.07 million. Newmark Group had a net margin of 1.72% and a return on equity of 17.03%. Newmark Group’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Newmark Group updated its FY 2024 guidance to 1.100-1.150 EPS and its FY 2026 guidance to EPS.

Newmark Group Price Performance

Shares of NMRK traded up $0.01 during trading hours on Friday, reaching $9.99. The stock had a trading volume of 1,282,232 shares, compared to its average volume of 840,375. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 0.59. Newmark Group has a 12 month low of $5.07 and a 12 month high of $11.51. The stock has a market capitalization of $1.72 billion, a PE ratio of 39.96 and a beta of 1.99. The company’s 50-day moving average is $10.46 and its two-hundred day moving average is $9.46.

Newmark Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.20%. Newmark Group’s payout ratio is presently 48.00%.

Analyst Ratings Changes

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