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

Newmark Group, Inc. (NASDAQ:NMRK) declared a quarterly dividend on Tuesday, April 29th, Wall Street Journal reports. Stockholders of record on Wednesday, May 14th will be given a dividend of 0.03 per share on Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, May 14th.

Newmark Group has raised its dividend by an average of 44.2% annually over the last three years. Newmark Group has a payout ratio of 7.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Newmark Group to earn $1.67 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 7.2%.

Newmark Group Price Performance

NMRK stock opened at $11.23 on Monday. The stock has a market capitalization of $2.03 billion, a PE ratio of 32.09 and a beta of 1.99. The company’s 50-day moving average is $11.55 and its 200-day moving average is $13.26. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. Newmark Group has a 1 year low of $9.64 and a 1 year high of $16.10.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company had revenue of $665.49 million for the quarter, compared to analysts’ expectations of $609.28 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The business’s revenue was up 21.8% on a year-over-year basis. Equities research analysts expect that Newmark Group will post 1.45 EPS for the current fiscal year.

Analysts Set New Price Targets

NMRK has been the topic of several recent research reports. The Goldman Sachs Group dropped their price target on shares of Newmark Group from $19.50 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Piper Sandler decreased their price objective on shares of Newmark Group from $19.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, Keefe, Bruyette & Woods reduced their price objective on Newmark Group from $14.50 to $14.00 and set an “outperform” rating for the company in a report on Friday, May 2nd.

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.