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

Newmark Group, Inc. (NASDAQ:NMRK) declared a quarterly dividend on Monday, November 4th, Wall Street Journal reports. Shareholders of record on Thursday, November 21st will be paid a dividend of 0.03 per share on Thursday, December 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, November 21st.

Newmark Group has decreased its dividend payment by an average of 2.6% annually over the last three years. Newmark Group has a dividend payout ratio of 8.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Newmark Group to earn $1.38 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 8.7%.

Newmark Group Price Performance

Shares of NASDAQ NMRK traded down $0.15 during midday trading on Wednesday, reaching $14.75. The company’s stock had a trading volume of 2,416,023 shares, compared to its average volume of 1,350,841. The company has a market cap of $2.53 billion, a P/E ratio of 56.73 and a beta of 2.01. Newmark Group has a fifty-two week low of $6.64 and a fifty-two week high of $16.10. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.49. The business’s 50 day moving average price is $14.81 and its two-hundred day moving average price is $12.32.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $682.07 million. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. On average, analysts forecast that Newmark Group will post 1.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NMRK. Wolfe Research upgraded shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research note on Friday, August 16th. Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $13.50 to $16.50 in a research report on Thursday, September 5th. Finally, Piper Sandler boosted their price objective on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd.

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.