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

Newmark Group, Inc. (NASDAQ:NMRK) announced a quarterly dividend on Thursday, February 13th, Wall Street Journal reports. Investors of record on Monday, March 3rd will be given a dividend of 0.03 per share on Monday, March 17th. This represents a $0.12 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Monday, March 3rd.

Newmark Group has increased its dividend by an average of 44.2% per year over the last three years. Newmark Group has a dividend payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Newmark Group stock opened at $14.67 on Friday. Newmark Group has a 12-month low of $9.44 and a 12-month high of $16.10. The stock has a market cap of $2.51 billion, a P/E ratio of 41.92 and a beta of 1.99. The company has a 50-day moving average price of $13.52 and a 200 day moving average price of $14.27. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Friday, February 14th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.07. The firm had revenue of $888.30 million during the quarter, compared to analysts’ expectations of $790.76 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. Newmark Group’s revenue was up 18.9% compared to the same quarter last year. During the same period last year, the business earned $0.46 earnings per share. Sell-side analysts anticipate that Newmark Group will post 1.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NMRK. The Goldman Sachs Group began coverage on shares of Newmark Group in a research note on Friday, December 6th. They set a “buy” rating and a $19.00 target price for the company. Wolfe Research lowered shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 25th.

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.