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

Newmark Group, Inc. (NASDAQ:NMRK) announced 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 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 21st.

Newmark Group has decreased its dividend payment by an average of 2.6% per year over the last three years. Newmark Group has a dividend payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 1.5 %

NASDAQ NMRK opened at $15.35 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $15.06 and its 200-day simple moving average is $12.64. Newmark Group has a 52 week low of $7.63 and a 52 week high of $16.10. The firm has a market cap of $2.63 billion, a PE ratio of 51.17 and a beta of 2.01.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $682.07 million. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 EPS. As a group, equities analysts anticipate that Newmark Group will post 1.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

About Newmark Group

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.