Newmark Group, Inc. (NMRK) To Go Ex-Dividend on August 16th

Newmark Group, Inc. (NASDAQ:NMRK) announced a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Shareholders of record on Friday, August 16th will be paid a dividend of 0.03 per share on Tuesday, September 3rd. This represents a $0.12 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, August 16th.

Newmark Group has decreased its dividend by an average of 2.6% per year over the last three years. Newmark Group has a payout ratio of 8.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Newmark Group to earn $1.36 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 8.8%.

Newmark Group Price Performance

Shares of NMRK traded up $0.04 during mid-day trading on Wednesday, hitting $12.49. 307,188 shares of the company traded hands, compared to its average volume of 1,056,062. Newmark Group has a one year low of $5.09 and a one year high of $13.25. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average of $11.05 and a 200 day moving average of $10.65. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 56.59 and a beta of 2.02.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Newmark Group had a net margin of 1.47% and a return on equity of 17.03%. The business had revenue of $633.40 million for the quarter, compared to analysts’ expectations of $630.27 million. During the same period in the prior year, the firm earned $0.18 earnings per share. Newmark Group’s revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts expect that Newmark Group will post 1.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their price target on shares of Newmark Group from $13.00 to $13.50 and gave the company a “market perform” rating in a research note on Thursday, August 8th.

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.