Brokerages predict that Newmark Group Inc (NASDAQ:NMRK) will report earnings of $0.42 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Newmark Group’s earnings, with estimates ranging from $0.41 to $0.43. Newmark Group reported earnings per share of $0.30 during the same quarter last year, which indicates a positive year over year growth rate of 40%. The business is expected to report its next quarterly earnings results on Friday, February 8th.
On average, analysts expect that Newmark Group will report full year earnings of $1.49 per share for the current fiscal year, with EPS estimates ranging from $1.48 to $1.50. For the next fiscal year, analysts anticipate that the company will post earnings of $1.62 per share, with EPS estimates ranging from $1.60 to $1.65. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Newmark Group.
Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.01). Newmark Group had a net margin of 2.28% and a return on equity of 54.81%. The company had revenue of $518.81 million for the quarter, compared to the consensus estimate of $510.60 million.
NMRK stock traded up $0.33 on Friday, reaching $9.55. 1,312,386 shares of the company traded hands, compared to its average volume of 1,498,563. The firm has a market cap of $1.39 billion and a PE ratio of 8.30. Newmark Group has a one year low of $7.34 and a one year high of $16.98. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.45.
In other news, CEO Barry M. Gosin purchased 102,796 shares of the company’s stock in a transaction dated Wednesday, December 12th. The shares were purchased at an average cost of $9.25 per share, for a total transaction of $950,863.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Barry M. Gosin purchased 306,429 shares of the company’s stock in a transaction dated Monday, December 10th. The stock was purchased at an average price of $8.59 per share, for a total transaction of $2,632,225.11. The disclosure for this purchase can be found here. In the last three months, insiders acquired 419,225 shares of company stock valued at $3,666,888. Corporate insiders own 90.95% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Newmark Group by 4.6% in the 2nd quarter. BlackRock Inc. now owns 3,077,689 shares of the company’s stock worth $43,796,000 after buying an additional 135,117 shares during the last quarter. Systematic Financial Management LP boosted its stake in shares of Newmark Group by 1.1% in the 3rd quarter. Systematic Financial Management LP now owns 1,106,495 shares of the company’s stock worth $12,382,000 after buying an additional 11,943 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Newmark Group by 0.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 921,727 shares of the company’s stock worth $10,314,000 after buying an additional 3,525 shares during the last quarter. River Road Asset Management LLC boosted its stake in shares of Newmark Group by 13.8% in the 3rd quarter. River Road Asset Management LLC now owns 760,003 shares of the company’s stock worth $8,504,000 after buying an additional 92,137 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Newmark Group by 99.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 624,814 shares of the company’s stock worth $6,992,000 after buying an additional 312,214 shares during the last quarter. Hedge funds and other institutional investors own 13.17% of the company’s stock.
About Newmark Group
Newmark Group, Inc provides commercial real estate services in the United States and internationally. Its investor/owner services and products include capital markets, such as investment sales; and agency leasing, property management, valuation and advisory, and diligence and underwriting, as well as government sponsored enterprise lending, loan servicing, debt and structured finance, and loan sales under the Berkeley Point and NKF Capital Markets names.
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