Newmark Group (NASDAQ:NMRK) Issues Quarterly Earnings Results

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

Newmark Group Price Performance

NMRK stock opened at $9.99 on Friday. The firm’s 50-day moving average price is $10.46 and its two-hundred day moving average price is $9.48. Newmark Group has a 12-month low of $5.07 and a 12-month high of $11.51. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 45.41 and a beta of 1.99. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35.

Newmark Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, March 7th. Newmark Group’s payout ratio is 54.55%.

Analysts Set New Price Targets

A number of research firms have issued reports on NMRK. Piper Sandler restated an “overweight” rating and issued a $13.00 price objective on shares of Newmark Group in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods boosted their price objective on shares of Newmark Group from $11.00 to $11.25 and gave the company 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.