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

Newmark Group, Inc. (NASDAQ:NMRK) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders of record on Friday, May 17th will be paid a dividend of 0.03 per share on Monday, June 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, May 16th.

Newmark Group has decreased its dividend payment by an average of 2.6% per year over the last three years. Newmark Group has a payout ratio of 9.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Newmark Group to earn $1.34 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 9.0%.

Newmark Group Trading Up 1.1 %

Shares of NMRK traded up $0.11 during trading hours on Monday, reaching $10.10. 980,846 shares of the company traded hands, compared to its average volume of 1,024,174. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 45.41 and a beta of 1.99. Newmark Group has a 12-month low of $5.07 and a 12-month high of $11.51. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average price is $10.46 and its 200 day moving average price is $9.51.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Friday, May 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Newmark Group had a net margin of 1.47% and a return on equity of 17.11%. 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 prior 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. Sell-side analysts forecast that Newmark Group will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Newmark Group from $11.00 to $11.25 and gave the stock a “market perform” rating in a research note on Monday, February 26th. Piper Sandler reiterated an “overweight” rating and issued a $13.00 target price on shares of Newmark Group in a report on Tuesday, March 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.