$362.55 Million in Sales Expected for Newmark Group Inc (NMRK) This Quarter

Equities analysts expect that Newmark Group Inc (NASDAQ:NMRK) will announce $362.55 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Newmark Group’s earnings, with the highest sales estimate coming in at $365.10 million and the lowest estimate coming in at $360.00 million. The firm is expected to report its next quarterly earnings report on Friday, May 11th.

According to Zacks, analysts expect that Newmark Group will report full-year sales of $362.55 million for the current fiscal year. For the next fiscal year, analysts expect that the firm will report sales of $2.07 billion per share, with estimates ranging from $2.05 billion to $2.09 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Newmark Group.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Friday, February 9th. The company reported $0.30 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $460.60 million during the quarter, compared to the consensus estimate of $428.10 million. During the same quarter in the previous year, the company earned $0.31 earnings per share.

A number of research firms have recently commented on NMRK. Raymond James Financial began coverage on Newmark Group in a research report on Tuesday, February 6th. They set an “outperform” rating and a $21.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of Newmark Group in a research report on Monday. Keefe, Bruyette & Woods began coverage on Newmark Group in a research report on Tuesday, January 9th. They set a “market perform” rating and a $17.00 target price for the company. Goldman Sachs Group began coverage on Newmark Group in a research report on Tuesday, January 9th. They set a “buy” rating and a $24.00 target price for the company. Finally, Bank of America began coverage on Newmark Group in a research report on Tuesday, January 9th. They set a “buy” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $20.08.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cardinal Capital Management LLC CT bought a new position in shares of Newmark Group during the 4th quarter valued at approximately $25,982,000. The Manufacturers Life Insurance Company bought a new position in shares of Newmark Group during the 4th quarter valued at approximately $20,723,000. Long Pond Capital LP bought a new position in shares of Newmark Group during the 4th quarter valued at approximately $15,900,000. Monashee Investment Management LLC bought a new position in shares of Newmark Group during the 4th quarter valued at approximately $7,950,000. Finally, Strycker View Capital LLC bought a new position in shares of Newmark Group during the 4th quarter valued at approximately $4,543,000. Hedge funds and other institutional investors own 0.43% of the company’s stock.

Newmark Group (NASDAQ NMRK) opened at $15.30 on Wednesday. The company has a market capitalization of $2,360.00 and a P/E ratio of 28.87. Newmark Group has a 52-week low of $13.72 and a 52-week high of $16.98.

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About Newmark Group

Newmark Group, Inc is a commercial real estate services company. The Company is focused on offering products and services to both owners and occupiers across the entire commercial real estate industry. Its investor/owner services and products include capital markets, which consists of investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory, diligence and underwriting and government-sponsored enterprise lending and loan servicing.

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

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