Real estate services firm Newmark (NASDAQ: NMRK) will be reporting results this Thursday before market hours. Here’s what to expect.
Newmark met analysts’ revenue expectations last quarter, reporting revenues of $1.01 billion, up 15.3% year on year. It was a satisfactory quarter for the company, with full-year revenue guidance exceeding analysts’ expectations 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 for active Edge members.
This quarter, the market is expecting Newmark’s revenue to grow 12.4% year on year, slowing from the 21.8% 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 to 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 Q1 results, giving us a hint as to what we can expect. CBRE delivered year-on-year revenue growth of 18.2%, beating analysts’ expectations by 2.5%, and Forestar Group reported revenues up 6.6%, in line with consensus estimates. CBRE traded down 3.4% following the results while Forestar Group was up 3.3%.
Read our full analysis of CBRE’s results here and Forestar Group’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 12.5% on average over the last month. Newmark is up 12.4% during the same time and is heading into earnings with an average analyst price target of $19.33 (compared to the current share price of $16.49).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a $437 billion giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
