Real estate services firm Newmark (NASDAQ:NMRK) will be reporting results tomorrow morning. Here’s what you need to know.
Newmark beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $685.9 million, up 11.3% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EPS estimates but a significant miss of analysts’ adjusted operating income estimates.
Is Newmark a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Newmark’s revenue to grow 5.8% year on year to $790.8 million, slowing from the 23.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.48 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Newmark has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Newmark’s peers in the consumer discretionary segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Zillow delivered year-on-year revenue growth of 16.9%, beating analysts’ expectations by 1.1%, and CBRE reported revenues up 16.2%, topping estimates by 1.2%. Zillow traded down 10.7% following the results.
Read our full analysis of Zillow’s results here and CBRE’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. Newmark is down 14.7% during the same time and is heading into earnings with an average analyst price target of $18.67 (compared to the current share price of $11.01).
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