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Newmark Group (NMRK) Moves 7.6% Higher: Will This Strength Last?
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Newmark Group (NMRK - Free Report) shares ended the last trading session 7.6% higher at $9.48. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 20.7% loss over the past four weeks.
Return to office and a significant increase in utilization rates are creating opportunities for the company’s business. Robust debt-market originations and higher leasing demand are poised to drive commercial mortgage origination revenues and leasing commissions, respectively. This led to bullish investor sentiments, which likely drove the Newmark Group stock.
This provider of commercial real estate services is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of +19.4%. Revenues are expected to be $659.55 million, up 4.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Newmark Group, the consensus EPS estimate for the quarter has been revised 1.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on NMRK going forward to see if this recent jump can turn into more strength down the road.
Newmark Group is a member of the Zacks Real Estate - Operations industry. One other stock in the same industry, RE/MAX (RMAX - Free Report) , finished the last trading session 1% higher at $22.28. RMAX has returned -2.7% over the past month.
For RE/MAX, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.64. This represents a change of +1.6% from what the company reported a year ago. RE/MAX currently has a Zacks Rank of #3 (Hold).
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Newmark Group (NMRK) Moves 7.6% Higher: Will This Strength Last?
Newmark Group (NMRK - Free Report) shares ended the last trading session 7.6% higher at $9.48. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 20.7% loss over the past four weeks.
Return to office and a significant increase in utilization rates are creating opportunities for the company’s business. Robust debt-market originations and higher leasing demand are poised to drive commercial mortgage origination revenues and leasing commissions, respectively. This led to bullish investor sentiments, which likely drove the Newmark Group stock.
This provider of commercial real estate services is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of +19.4%. Revenues are expected to be $659.55 million, up 4.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Newmark Group, the consensus EPS estimate for the quarter has been revised 1.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on NMRK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Newmark Group is a member of the Zacks Real Estate - Operations industry. One other stock in the same industry, RE/MAX (RMAX - Free Report) , finished the last trading session 1% higher at $22.28. RMAX has returned -2.7% over the past month.
For RE/MAX, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.64. This represents a change of +1.6% from what the company reported a year ago. RE/MAX currently has a Zacks Rank of #3 (Hold).