Newmark Group, Inc. (NASDAQ:NMRK) Declares $0.03 Quarterly Dividend

Newmark Group, Inc. (NASDAQ:NMRK) announced a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Shareholders of record on Friday, August 16th will be paid a dividend of 0.03 per share on Tuesday, September 3rd. This represents a $0.12 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, August 16th.

Newmark Group has decreased its dividend by an average of 2.6% per year over the last three years. Newmark Group has a dividend payout ratio of 8.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Newmark Group to earn $1.36 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 8.8%.

Newmark Group Stock Performance

Newmark Group stock traded up $0.04 on Wednesday, hitting $12.49. The company’s stock had a trading volume of 205,639 shares, compared to its average volume of 1,055,462. The firm has a market cap of $2.15 billion, a P/E ratio of 56.59 and a beta of 2.02. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average price of $11.05 and a 200-day moving average price of $10.65. Newmark Group has a one year low of $5.09 and a one year high of $13.25.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. Newmark Group had a net margin of 1.47% and a return on equity of 17.03%. The firm had revenue of $633.40 million for the quarter, compared to analyst estimates of $630.27 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Newmark Group will post 1.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price target on shares of Newmark Group from $13.00 to $13.50 and gave the stock a “market perform” rating in a research report on Thursday, August 8th.

Newmark Group Company Profile

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.