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

Newmark Group, Inc. (NASDAQ:NMRK) announced a quarterly dividend on Thursday, February 13th, Wall Street Journal reports. Investors of record on Monday, March 3rd will be given a dividend of 0.03 per share on Monday, March 17th. This represents a $0.12 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Monday, March 3rd.

Newmark Group has raised its dividend by an average of 44.2% annually over the last three years. Newmark Group has a dividend payout ratio of 7.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Newmark Group to earn $1.67 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 7.2%.

Newmark Group Price Performance

NASDAQ NMRK opened at $14.67 on Friday. The business has a 50 day simple moving average of $13.52 and a 200 day simple moving average of $14.27. Newmark Group has a 52-week low of $9.44 and a 52-week high of $16.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 41.92 and a beta of 1.99.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Friday, February 14th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The business had revenue of $888.30 million during the quarter, compared to analysts’ expectations of $790.76 million. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. Newmark Group’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS. Analysts anticipate that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NMRK has been the subject of several research reports. The Goldman Sachs Group initiated coverage on shares of Newmark Group in a research note on Friday, December 6th. They set a “buy” rating and a $19.00 price target for the company. Wolfe Research cut shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 25th.

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.