Newmark Group (NMRK) Earnings Announcement Set for Tuesday

Newmark Group (NASDAQ:NMRK) is scheduled to release its quarterly earnings on Tuesday, November 5th, before the market opens. Analysts predict the firm will report earnings of $0.31 per share for this quarter. Those interested in the earnings conference call can participate via a provided link.

Previously, on August 2nd, Newmark Group reported its last quarterly earnings, showing earnings per share (EPS) of $0.22, exceeding the consensus estimate of $0.21 by $0.01. The company's revenue for that quarter reached $633.40 million, which surpassed the expected $630.27 million. Newmark Group recorded a return on equity of 17.78% and a net margin of 1.75%. Additionally, revenues rose by 8.1% compared to the same quarter last year, when the EPS stood at $0.18. Looking ahead, analysts have calculated expectations of $1 EPS for both the current and next fiscal years.

Current Stock Performance

As of Friday, Newmark Group shares opened at $14.63. The stock has a market capitalization of $2.51 billion and a price-to-earnings (P/E) ratio of 56.27, accompanied by a beta of 2.01. Over the past year, the stock's low was recorded at $6.51 and its high at $16.10. Newmark Group possesses a debt-to-equity ratio of 0.49, along with quick and current ratios also at 0.49. The fifty-day moving average for the stock is $14.77, while the 200-day moving average is $12.23.

Analyst Ratings and Forecasts

Recent discussions among analysts have mostly favored Newmark Group. Keefe, Bruyette & Woods upgraded the stock from "market perform" to "outperform," raising their price target from $13.50 to $16.50 in a report dated September 5th. Meanwhile, Piper Sandler increased their price target from $13.00 to $17.00 and assigned it an "overweight" rating on September 3rd. Additionally, Wolfe Research moved Newmark Group from “peer perform” to “outperform” on August 16th, setting a price target of $15.00.

About Newmark Group

Newmark Group, Inc. provides a variety of commercial real estate services both domestically and internationally, including the United States and the United Kingdom. Services offered involve capital markets, which encompass investment sales and commercial mortgage brokerage, landlord leasing representation, valuation and advisory services, property management, and a technology platform for commercial real estate. They also deliver consulting and other advisory services, compliance with GSEs and the Federal Housing Administration for multifamily lending and loan servicing, asset management, and flexible workspace solutions.

Earnings, Stocks, Analysis