Newmark Group (NASDAQ:NMRK) Posts Earnings Results, Beats Estimates By $0.01 EPS

Newmark Group (NASDAQ:NMRK) issued its quarterly earnings results on Friday. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01, Briefing.com reports. The firm had revenue of $633.40 million for the quarter, compared to analysts’ expectations of $630.27 million. Newmark Group had a return on equity of 17.03% and a net margin of 1.47%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. Newmark Group updated its FY 2024 guidance to 1.100-1.150 EPS.

Newmark Group Price Performance

NMRK opened at $11.53 on Tuesday. The stock’s 50 day simple moving average is $10.80 and its 200 day simple moving average is $10.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.56 and a quick ratio of 0.56. Newmark Group has a 1 year low of $5.09 and a 1 year high of $13.25. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 52.41 and a beta of 2.02.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.12 annualized dividend and a yield of 1.04%. Newmark Group’s payout ratio is 54.55%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price objective on Newmark Group from $11.25 to $13.00 and gave the company a “market perform” rating in a research report on Thursday, July 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.