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

Newmark Group (NASDAQ:NMRK) released its quarterly earnings results on Friday. The company reported $0.15 earnings per share 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 business had revenue of $546.50 million during the quarter, compared to analyst estimates of $526.07 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Newmark Group updated its FY 2024 guidance to 1.100-1.150 EPS and its FY 2026 guidance to EPS.

Newmark Group Stock Performance

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

Newmark Group Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on NMRK. Keefe, Bruyette & Woods lifted their price target 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. Piper Sandler reiterated an “overweight” rating and issued a $13.00 price target on shares of Newmark Group in a research report on Tuesday, March 26th.

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.