Newmark Group, Inc. (NASDAQ:NMRK) Declares Quarterly Dividend of $0.06

Newmark Group, Inc. (NASDAQ:NMRK) announced a quarterly dividend on Wednesday, October 28th. Shareholders of record on Friday, November 13th will be given a dividend of $0.06 per share on Monday, November 30th. This represents a $0.24 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, November 13th.

Newmark Group has a payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Newmark Group to earn $2.09 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 11.5%.

Newmark Group Stock Down 5.6%

NASDAQ NMRK opened at $11.38 on Friday. The stock’s 50 day moving average is $13.39 and its two-hundred day moving average is $14.89. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. Newmark Group has a 1-year low of $11.13 and a 1-year high of $18.81. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 14.05 and a beta of 1.76.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The company had revenue of $973.20 million during the quarter, compared to analyst estimates of $953.93 million. Newmark Group had a net margin of 4.11% and a return on equity of 27.07%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. Equities analysts forecast that Newmark Group will post 1.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

NMRK has been the topic of a number of research analyst reports. Citizens Jmp cut their target price on shares of Newmark Group from $22.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Thursday, October 22nd. Citigroup reissued a “market outperform” rating on shares of Newmark Group in a research report on Thursday, October 22nd. Zacks Research lowered shares of Newmark Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Wall Street Zen cut Newmark Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, Barclays boosted their price target on shares of Newmark Group from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Newmark Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.60.

About Newmark Group

Newmark Group, Inc is a global commercial real estate services company that provides advisory, transaction, and management services to occupiers, owners, investors, and developers. Its services cover office, industrial, retail, multifamily, hospitality, and other commercial property sectors.

The company assists clients with leasing, investment sales, acquisition and disposition advisory, debt and structured finance, valuation, consulting, and property and facilities management. Newmark also provides corporate real estate services, workplace strategy, capital markets advice, and technology-enabled data and research solutions.

Newmark serves clients through operations in major real estate markets across North America, Europe, Asia-Pacific, and other international regions.