Brokerages Expect Newmark Group Inc (NASDAQ:NMRK) to Post $0.56 EPS

Wall Street brokerages expect that Newmark Group Inc (NASDAQ:NMRK) will post $0.56 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Newmark Group’s earnings, with the lowest EPS estimate coming in at $0.55 and the highest estimate coming in at $0.57. Newmark Group posted earnings of $0.45 per share in the same quarter last year, which would suggest a positive year over year growth rate of 24.4%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, February 13th.

According to Zacks, analysts expect that Newmark Group will report full year earnings of $1.66 per share for the current fiscal year, with EPS estimates ranging from $1.65 to $1.68. For the next financial year, analysts forecast that the business will report earnings of $1.79 per share, with EPS estimates ranging from $1.75 to $1.84. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Newmark Group.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.03. Newmark Group had a net margin of 6.44% and a return on equity of 41.01%. The company had revenue of $586.63 million during the quarter, compared to the consensus estimate of $565.52 million. During the same quarter last year, the firm earned $0.58 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year.

Several research analysts have recently weighed in on NMRK shares. ValuEngine upgraded shares of Newmark Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 14th. Zacks Investment Research cut shares of Newmark Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th. Finally, Bank of America started coverage on shares of Newmark Group in a research note on Friday, October 18th. They set a “buy” rating and a $15.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned 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 $14.00.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new stake in shares of Newmark Group in the 2nd quarter worth about $187,462,000. BlackRock Inc. acquired a new position in Newmark Group during the 2nd quarter valued at approximately $86,478,000. Bank of New York Mellon Corp acquired a new stake in shares of Newmark Group in the second quarter worth $30,001,000. EJF Capital LLC acquired a new stake in shares of Newmark Group in the second quarter worth $27,331,000. Finally, Northern Trust Corp acquired a new stake in shares of Newmark Group in the second quarter worth $18,188,000. Institutional investors own 55.70% of the company’s stock.

NASDAQ:NMRK traded up $0.09 during trading hours on Friday, reaching $12.19. The company had a trading volume of 853,019 shares, compared to its average volume of 824,109. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.64. Newmark Group has a 52 week low of $7.02 and a 52 week high of $13.85. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 0.78 and a beta of 1.44. The firm’s 50 day moving average price is $13.02 and its 200-day moving average price is $10.65.

Newmark Group Company Profile

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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