Newmark Group (NASDAQ:NMRK) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

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

Newmark Group Stock Up 0.1 %

NMRK stock traded up $0.01 on Friday, reaching $9.99. 1,282,232 shares of the company traded hands, compared to its average volume of 840,375. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a fifty day simple moving average of $10.46 and a 200-day simple moving average of $9.46. Newmark Group has a one year low of $5.07 and a one year high of $11.51. The company has a market cap of $1.72 billion, a P/E ratio of 39.96 and a beta of 1.99.

Newmark Group Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently issued reports on NMRK. Piper Sandler reissued 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 increased their target price on Newmark Group from $11.00 to $11.25 and gave the stock a “market perform” rating in a research report on Monday, February 26th.

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.