Newmark Group, Inc. (NMRK) to Issue Quarterly Dividend of $0.03 on March 17th

Newmark Group, Inc. (NASDAQ:NMRK) announced a quarterly dividend on Thursday, February 13th, Wall Street Journal reports. Stockholders 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 dividend yield of 0.82%. The ex-dividend date is Monday, March 3rd.

Newmark Group has raised its dividend by an average of 44.2% annually over the last three years. Newmark Group has a dividend payout ratio of 7.3% 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 Up 2.4 %

Shares of NASDAQ NMRK opened at $14.67 on Friday. The firm’s 50-day simple moving average is $13.52 and its 200 day simple moving average is $14.27. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 41.92 and a beta of 1.99. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. Newmark Group has a 12-month low of $9.44 and a 12-month high of $16.10.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results 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 business had revenue of $888.30 million for the quarter, compared to the consensus estimate of $790.76 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. On average, research analysts expect that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wolfe Research downgraded shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 25th. The Goldman Sachs Group initiated coverage on shares of Newmark Group in a research report on Friday, December 6th. They set a “buy” rating and a $19.00 target price on the stock.

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.