Newmark Group (NMRK) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Newmark Group (NASDAQ:NMRK) posted its quarterly earnings data on Tuesday. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02, MarketWatch Earnings reports. The business had revenue of $631.70 million during the quarter, compared to the consensus estimate of $591.66 million. Newmark Group had a return on equity of 54.81% and a net margin of 2.28%. The firm’s revenue was up 37.1% compared to the same quarter last year. Newmark Group updated its FY19 guidance to $1.55-1.65 EPS.

Shares of NASDAQ NMRK opened at $10.55 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.42 and a quick ratio of 0.42. Newmark Group has a 1-year low of $7.34 and a 1-year high of $16.06. The firm has a market cap of $1.66 billion, a P/E ratio of 9.17, a P/E/G ratio of 0.66 and a beta of 1.28.

In related news, Director Virginia S. Bauer purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 7th. The stock was purchased at an average cost of $8.38 per share, with a total value of $83,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Barry M. Gosin purchased 306,429 shares of the firm’s stock in a transaction that occurred on Monday, December 10th. The shares were bought at an average cost of $8.59 per share, with a total value of $2,632,225.11. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 419,225 shares of company stock valued at $3,666,888. Corporate insiders own 90.95% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of NMRK. Wedbush Securities Inc. acquired a new stake in shares of Newmark Group during the third quarter worth $124,000. JPMorgan Chase & Co. raised its position in Newmark Group by 148.2% in the third quarter. JPMorgan Chase & Co. now owns 11,490 shares of the company’s stock worth $128,000 after acquiring an additional 6,860 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in Newmark Group in the third quarter worth $184,000. RBF Capital LLC purchased a new position in Newmark Group in the third quarter worth $207,000. Finally, MetLife Investment Advisors LLC purchased a new position in Newmark Group in the third quarter worth $214,000. 14.76% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Newmark Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 1st. Raymond James decreased their price objective on Newmark Group from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, October 26th.

COPYRIGHT VIOLATION WARNING: This story was reported by Community Financial News and is the property of of Community Financial News. If you are viewing this story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The legal version of this story can be accessed at https://www.com-unik.info/2019/02/13/newmark-group-nmrk-releases-quarterly-earnings-results-beats-expectations-by-0-02-eps.html.

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.

Read More: What impact do institutional investors have on markets?

Earnings History for Newmark Group (NASDAQ:NMRK)

Receive News & Ratings for Newmark Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmark Group and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit