Newmark Group, Inc. (NMRK) to Issue Quarterly Dividend of $0.03 on May 29th

Newmark Group, Inc. (NASDAQ:NMRK) announced a quarterly dividend on Tuesday, April 29th, Wall Street Journal reports. Stockholders of record on Wednesday, May 14th will be paid a dividend of 0.03 per share on Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, May 14th.

Newmark Group has increased its dividend payment by an average of 44.2% per year over the last three years. Newmark Group has a dividend payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Newmark Group to earn $1.67 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 7.2%.

Newmark Group Stock Down 0.8%

NMRK stock opened at $11.23 on Monday. Newmark Group has a one year low of $9.64 and a one year high of $16.10. The stock has a market capitalization of $2.03 billion, a P/E ratio of 32.09 and a beta of 1.99. The company has a 50 day moving average price of $11.55 and a two-hundred day moving average price of $13.26. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The firm had revenue of $665.49 million for the quarter, compared to the consensus estimate of $609.28 million. During the same period in the prior year, the business posted $0.15 earnings per share. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, sell-side analysts expect that Newmark Group will post 1.45 EPS for the current year.

Analyst Ratings Changes

NMRK has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price objective on Newmark Group from $19.50 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Keefe, Bruyette & Woods cut their target price on shares of Newmark Group from $14.50 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Finally, Piper Sandler decreased their price target on shares of Newmark Group from $19.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, May 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.