Real estate services firm Newmark (NASDAQ: NMRK) will be reporting earnings this Wednesday before market hours. Here’s what to expect.
Newmark beat analysts’ revenue expectations by 8.9% last quarter, reporting revenues of $665.5 million, up 21.8% year on year. It was a strong quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ EPS 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 8.3% year on year to $685.9 million, in line with the 8.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.27 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 only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.3% on average.
Looking at Newmark’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Hasbro’s revenues decreased 1.5% year on year, beating analysts’ expectations by 11.2%, and Levi's reported revenues up 6.4%, topping estimates by 5.8%. Hasbro traded down 3.3% following the results while Levi's was up 11.1%.
Read our full analysis of Hasbro’s results here and Levi’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 9.6% on average over the last month. Newmark is up 12.3% during the same time and is heading into earnings with an average analyst price target of $15.50 (compared to the current share price of $13.65).
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