|Bid||9.70 x 1300|
|Ask||10.52 x 900|
|Day's Range||10.26 - 10.69|
|52 Week Range||2.49 - 10.69|
|Beta (5Y Monthly)||1.87|
|PE Ratio (TTM)||26.94|
|Earnings Date||May 05, 2021 - May 10, 2021|
|Forward Dividend & Yield||0.04 (0.39%)|
|Ex-Dividend Date||Mar 09, 2021|
|1y Target Est||9.83|
Newmark Group Inc.’s shares surged 5.7% on Feb. 18 as the commercial real estate advisory company outpaced analysts’ expectations in the fourth quarter. Though industry volumes were impacted by the pandemic, capital markets performed well. Newmark’s (NMRK) 4Q adjusted earnings dropped 43.4% to $0.30 per share on a year-over-year basis, but beat the Street estimates of $0.25 per share. Revenues declined 4.9% to $601.4 million versus the consensus estimate of $478.9 million. The company’s adjusted EBITDA came in at $112.9 million in the quarter, down 34.3% year-over-year. Leasing revenues decreased 45% to $138.4 million, while capital markets revenues increased 15.3% to $190.3 million, driven by record investment sales volumes. Newmark CEO Barry M. Gosin commented, “We continued to see improvement in the fourth quarter as our capital markets and debt origination volumes increased 21% to a record $32 billion.” “We remain focused on increasing recurring revenues in Mortgage Servicing, Global Corporate Services, Property Management, and Valuation & Advisory. Additionally, we continue to expand our presence in key growth markets that are benefiting from demographic tailwinds. Based on the strong foundation we have built, Newmark expects to outperform as industry volumes recover,” Gosin added. For 2021, the company expects double-digit revenue growth. The adjusted EBITDA margin is likely to expand more than 20%. On execution of cost savings initiatives, $60 million of permanent savings is anticipated. (See Newmark stock analysis on TipRanks) Following the 4Q results, Raymond James analyst Patrick O’Shaughnessy increased the stock’s price target to $14 (51.7% upside potential) from $11 and reiterated a Buy rating. The analyst highlighted “better line of sight into the pace of the recovery for the CRE market, most notably a rebound in capital markets transaction revenues.” Additionally, the analyst argued that “the accelerated receipt of NDAQ shares will provide Newmark with substantial liquidity over the coming quarters with which to aggressively repurchase shares, reduce debt, and pursue hiring and acquisitions.” The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating. That’s based on 2 Buys and 2 Holds. The average analyst price target of $9.81 implies 6% upside potential to current levels. Shares have gained 26.6% so far this year. Related News: Q2 Holdings’ 1Q Sales Outlook Exceeds Street Estimates; Street Is Bullish Shopify’s 4Q Sales Pop 94% As Online Buying Booms; Shares Dip 3.3% NiSource Outperforms 4Q Earnings Estimates, Misses On Revenues More recent articles from Smarter Analyst: Universal Display 4Q Numbers Beat Analysts’ Estimates; Shares Rise 3.7% Walmart Posts Record 4Q Revenues As eCommerce Sales Boom; Shares Dip 6.5% Tractor Supply To Buy Orscheln Farm and Home For $297M Palantir Partners With Akin Gump For Legal Digital Service Platform
NMRK earnings call for the period ending December 31, 2020.
Shares of Newmark Group (NASDAQ:NMRK) remained unaffected after the company reported Q4 results. Quarterly Results Earnings per share decreased 42.31% year over year to $0.30, which beat the estimate of $0.25. Revenue of $601,426,000 declined by 4.89% year over year, which beat the estimate of $478,900,000. Outlook Earnings guidance hasn't been issued by the company for now. Revenue guidance hasn't been issued by the company for now. Details Of The Call Date: Feb 18, 2021 View more earnings on NMRK Time: 10:00 AM ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fir.nmrk.com%2F&eventid=2927457&sessionid=1&key=1F3398804B0B38B7E10DB47A6CD4C0E0®Tag=&V2=false&sourcepage=register Technicals 52-week high: $12.11 Company's 52-week low was at $2.49 Price action over last quarter: Up 55.61% Company Description Newmark Group Inc is a commercial real estate advisory firm. It offers services, including leasing and corporate advisory services, investment sales, commercial mortgage brokerage, appraisal and valuation, project management, and property, among others. Newmark offers a diverse array of integrated services and products designed to meet the full needs of both real estate investors/owners and occupiers. The company provides real estate strategic consulting and systems integration services to CFI's global clients including many Fortune 500 and Forbes Global 2000 companies, owner-occupiers, government agencies, healthcare and higher education clients. See more from BenzingaClick here for options trades from BenzingaEarnings Scheduled For February 18, 2021Earnings Preview: Newmark Group© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.