Newmark Group, Inc. (NMRK) to Distribute Quarterly Dividend of $0.06 on November 30th

Newmark Group, Inc. (NASDAQ:NMRK) declared a quarterly dividend on Wednesday, October 28th. Shareholders of record on Friday, November 13th will be given a dividend of $0.06 per share on Monday, November 30th. This represents a $0.24 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, November 13th.

Newmark Group has a payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Newmark Group to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 12.6%.

Newmark Group Stock Performance

Newmark Group stock opened at $11.32 on Wednesday. Newmark Group has a fifty-two week low of $11.13 and a fifty-two week high of $18.25. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 6.42 and a beta of 1.80. The stock has a fifty day moving average of $12.76 and a two-hundred day moving average of $14.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.46.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $973.20 million for the quarter, compared to the consensus estimate of $957.78 million. Newmark Group had a return on equity of 27.43% and a net margin of 4.07%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. On average, analysts anticipate that Newmark Group will post 1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NMRK. Zacks Research downgraded shares of Newmark Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 29th. Citizens Jmp lowered their target price on shares of Newmark Group from $22.00 to $17.00 and set a “market outperform” rating for the company in a research note on Thursday, October 22nd. Weiss Ratings raised Newmark Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 13th. Citigroup restated a “market outperform” rating on shares of Newmark Group in a report on Thursday, October 22nd. Finally, Piper Sandler downgraded Newmark Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $14.00 to $13.00 in a research report on Monday, October 19th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.60.

Newmark Group Company Profile

Newmark Group, Inc. is a commercial real estate services and advisory firm serving property owners, occupiers, investors and developers. Its services include commercial leasing, investment sales, debt and structured finance, property and facilities management, valuation, consulting, project management and workplace strategy. The company works across major property types, including office, industrial, retail, multifamily and hospitality. It serves clients throughout the United States and in international markets through its global offices and network.