Newmark (NMRK) reports Q3: everything you need to know ahead of earnings
Real estate services firm Newmark (NASDAQ:NMRK) will be announcing earnings results this Thursday morning. Here’s what to look for.
Newmark beat analysts’ revenue expectations last quarter, reporting revenues of $888.4 million, up 17% year on year. It was a satisfactory quarter for the company, with a decent beat of analysts’ EBITDA estimates but full-year revenue guidance meeting analysts’ expectations.
Is Newmark a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Newmark’s revenue to grow 10.3% year on year, slowing from the 25.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Newmark has a history of exceeding Wall Street’s expectations.
Looking at Newmark’s peers in the consumer discretionary segment, some have already reported their Q3 results, giving us a hint as to what we can expect. CBRE delivered year-on-year revenue growth of 12.7%, missing analysts’ expectations by 2.3%, and Hasbro reported revenues up 15%, topping estimates by 7.9%. CBRE traded down 8.4% following the results while Hasbro was up 15.7%.
Read our full analysis of CBRE’s results here and Hasbro’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 8.1% during the same time and is heading into earnings with an average analyst price target of $17.33 (compared to the current share price of $11.48).
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