Newmark Group (NASDAQ:NMRK - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.110-1.170 for the period, compared to the consensus estimate of 1.130. The company issued revenue guidance of $2.6 billion-$2.7 billion, compared to the consensus revenue estimate of $2.6 billion. Newmark Group also updated its FY24 guidance to $1.11-$1.17 EPS.
Newmark Group Trading Up 1.7 %
Shares of NMRK traded up $0.25 during trading hours on Tuesday, hitting $14.90. The company had a trading volume of 1,842,642 shares, compared to its average volume of 1,148,249. The firm has a market cap of $2.56 billion, a P/E ratio of 57.31 and a beta of 2.01. The stock's 50 day moving average price is $14.81 and its 200 day moving average price is $12.32. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.49. Newmark Group has a 52-week low of $6.64 and a 52-week high of $16.10.
Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its earnings results on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The firm had revenue of $633.40 million for the quarter, compared to the consensus estimate of $630.27 million. During the same quarter in the prior year, the business earned $0.18 EPS. The business's revenue for the quarter was up 8.1% on a year-over-year basis. On average, research analysts predict that Newmark Group will post 1.15 EPS for the current year.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Keefe, Bruyette & Woods raised Newmark Group from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $13.50 to $16.50 in a research report on Thursday, September 5th. Piper Sandler boosted their price target on Newmark Group from $13.00 to $17.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. Finally, Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $15.00 price target on the stock in a research report on Friday, August 16th.
Check Out Our Latest Research Report on Newmark Group
Newmark Group Company Profile
(
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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.
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