Newmark Group, Inc. (NMRK) to Issue Quarterly Dividend of $0.03 on December 5th

Newmark Group, Inc. (NASDAQ:NMRK) announced a quarterly dividend on Monday, November 4th,Wall Street Journal reports. Investors of record on Thursday, November 21st will be given a dividend of 0.03 per share on Thursday, December 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Thursday, November 21st.

Newmark Group has decreased its dividend by an average of 2.6% annually over the last three years. Newmark Group has a dividend payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

NMRK opened at $15.35 on Tuesday. Newmark Group has a 12-month low of $7.63 and a 12-month high of $16.10. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 51.17 and a beta of 2.01. The stock has a fifty day simple moving average of $15.06 and a two-hundred day simple moving average of $12.64. 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 issued its earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The firm had revenue of $685.90 million for the quarter, compared to the consensus estimate of $682.07 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The business’s revenue was up 11.3% on a year-over-year basis. Research analysts predict that Newmark Group will post 1.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NMRK has been the subject of several analyst reports. Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $13.50 to $16.50 in a report on Thursday, September 5th. 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 report on Friday, August 16th. Finally, Piper Sandler lifted their target price on Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a 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.