Newmark Group Inc reports results for the quarter ended in September - Earnings Summary

Newmark

01/11/2023 13:37

* Newmark Group Inc  NMRK.OQ  reported quarterly adjusted
earnings
of 27 cents​​ per share for the quarter ended in September,
lower than the same quarter last year, when the company reported
EPS of 35 cents.  The mean expectation of four analysts for the
quarter was for earnings of 26 cents per share. Wall Street
expected results to range from 20 cents to 30 cents per share.
    * Revenue fell 7.3% to $616.30 million from a year ago;
analysts
expected $606.27 million. 
    * Newmark Group Inc's reported EPS for the quarter was 6
cents​.
    * The company reported quarterly net income of $9.95
million.
    * Newmark Group Inc shares had fallen by 11.8% this
quarter and
lost 28.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 12.2%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the real estate
services peer group is also "hold"

Wall Street's median 12-month price target for Newmark Group Inc
is $7.00 
This summary was machine generated from LSEG data November 1 at
01:37 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.26           0.27           Beat
 Jun. 30 2023      0.22           0.18           Missed
 Mar. 31 2023      0.15           0.15           Met
 Dec. 31 2022      0.32           0.32           Met