Newmark Group Inc (NMRK) Expected to Announce Quarterly Sales of $510.60 Million

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Wall Street analysts expect Newmark Group Inc (NASDAQ:NMRK) to announce $510.60 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Newmark Group’s earnings, with the lowest sales estimate coming in at $491.20 million and the highest estimate coming in at $530.00 million. The firm is expected to issue its next earnings results before the market opens on Thursday, October 25th.

On average, analysts expect that Newmark Group will report full-year sales of $1.98 billion for the current financial year, with estimates ranging from $1.95 billion to $2.00 billion. For the next year, analysts forecast that the business will report sales of $2.22 billion, with estimates ranging from $2.19 billion to $2.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Newmark Group.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. The company had revenue of $466.62 million during the quarter, compared to analyst estimates of $472.50 million.

Several equities research analysts have recently weighed in on NMRK shares. Zacks Investment Research lowered Newmark Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Sandler O’Neill raised Newmark Group from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Friday, October 12th. Finally, Raymond James cut their target price on Newmark Group from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.14.

Shares of NASDAQ NMRK traded up $0.06 during midday trading on Friday, hitting $10.72. 170,900 shares of the company’s stock were exchanged, compared to its average volume of 377,157. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.51 and a current ratio of 0.51. Newmark Group has a twelve month low of $9.85 and a twelve month high of $16.98. The firm has a market capitalization of $1.66 billion and a PE ratio of 9.33.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Newmark Group by 4.6% during the 2nd quarter. BlackRock Inc. now owns 3,077,689 shares of the company’s stock worth $43,796,000 after acquiring an additional 135,117 shares in the last quarter. Systematic Financial Management LP increased its position in Newmark Group by 41.5% during the second quarter. Systematic Financial Management LP now owns 1,094,552 shares of the company’s stock worth $15,575,000 after buying an additional 320,839 shares during the period. Millennium Management LLC increased its position in Newmark Group by 263.7% during the first quarter. Millennium Management LLC now owns 708,445 shares of the company’s stock worth $10,761,000 after buying an additional 513,674 shares during the period. River Road Asset Management LLC increased its position in Newmark Group by 89.0% during the second quarter. River Road Asset Management LLC now owns 667,866 shares of the company’s stock worth $9,504,000 after buying an additional 314,546 shares during the period. Finally, Northern Trust Corp increased its position in Newmark Group by 7.5% during the second quarter. Northern Trust Corp now owns 510,390 shares of the company’s stock worth $7,263,000 after buying an additional 35,684 shares during the period. 13.94% of the stock is currently owned by institutional investors and hedge funds.

Newmark Group Company Profile

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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Earnings History and Estimates for Newmark Group (NASDAQ:NMRK)

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