Newmark Group, Inc. (NASDAQ:NMRK) Declares Quarterly Dividend of $0.03

Newmark Group, Inc. (NASDAQ:NMRK) declared a quarterly dividend on Monday, November 4th, Wall Street Journal reports. Stockholders of record on Thursday, November 21st will be paid a dividend of 0.03 per share on Thursday, December 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, November 21st.

Newmark Group has decreased its dividend by an average of 2.6% annually over the last three years. Newmark Group has a payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Newmark Group to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 8.7%.

Newmark Group Stock Down 1.0 %

Shares of NMRK traded down $0.15 during mid-day trading on Wednesday, reaching $14.75. The company’s stock had a trading volume of 2,416,023 shares, compared to its average volume of 1,350,841. Newmark Group has a 1 year low of $6.64 and a 1 year high of $16.10. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 56.73 and a beta of 2.01. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $14.81 and a 200 day moving average of $12.32.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The business had revenue of $685.90 million during the quarter, compared to the consensus estimate of $682.07 million. During the same period in the prior year, the firm earned $0.27 EPS. Newmark Group’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, analysts forecast that Newmark Group will post 1.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on NMRK. Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price target for the company in a research note on Friday, August 16th. Piper Sandler raised their price objective on shares of Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods upgraded Newmark Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $13.50 to $16.50 in a report on Thursday, September 5th.

Newmark Group Company Profile

Newmark Group, Inc provides commercial real estate services in the United States, the United Kingdom, and internationally. The company offers capital markets consisting of investment sales and commercial mortgage brokerage; landlord or agency representation leasing; valuation and advisory; property management; commercial real estate technology platform and capabilities; the United Kingdom business rates services; due diligence, consulting, and other advisory services; GSEs and the Federal Housing Administration lending services comprising multifamily lending and loan servicing; asset management; and flexible workspace solutions for owners.