Newmark Group (NASDAQ:NMRK) Updates FY 2024 Earnings Guidance

Newmark Group (NASDAQ:NMRK) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 1.100-1.150 for the period, compared to the consensus estimate of 1.080. The company issued revenue guidance of $2.5 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion. Newmark Group also updated its FY 2026 guidance to EPS.

Newmark Group Stock Up 0.1 %

Shares of NMRK stock traded up $0.01 during trading hours on Friday, reaching $9.99. The company had a trading volume of 1,282,230 shares, compared to its average volume of 1,024,678. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 39.96 and a beta of 1.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.59 and a quick ratio of 0.59. Newmark Group has a 12 month low of $5.07 and a 12 month high of $11.51. The business has a fifty day simple moving average of $10.46 and a 200-day simple moving average of $9.46.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $747.70 million for the quarter, compared to analysts’ expectations of $743.53 million. Newmark Group had a return on equity of 17.03% and a net margin of 1.72%. During the same period last year, the business earned $0.32 EPS. On average, research analysts expect that Newmark Group will post 1.12 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.20%. The ex-dividend date was Thursday, March 7th. Newmark Group’s dividend payout ratio (DPR) is presently 48.00%.

Analyst Upgrades and Downgrades

NMRK has been the topic of several recent analyst reports. Piper Sandler reissued an overweight rating and set a $13.00 target price on shares of Newmark Group in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods lifted their price target on Newmark Group from $11.00 to $11.25 and gave the stock a market perform rating in a report on Monday, February 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.