Stock Story -
Real estate services firm Newmark (NASDAQ:NMRK) will be reporting results tomorrow before market hours. Here's what to look for.
Newmark beat analysts' revenue expectations by 3.9% last quarter, reporting revenues of $546.5 million, up 4.9% year on year. It was a slower quarter for the company, with full-year revenue guidance missing analysts' expectations and underwhelming earnings guidance for the full year.
Is Newmark a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Newmark's revenue to grow 7.6% year on year to $630.3 million, a reversal from the 22.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.20 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 real estate services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Cushman & Wakefield's revenues decreased 4.9% year on year, missing analysts' expectations by 2.9%, and Compass reported revenues up 13.8%, topping estimates by 3.3%. Cushman & Wakefield traded down 3.6% following the results.
Read the full analysis of Cushman & Wakefield's and Compass's results on StockStory.
There has been positive sentiment among investors in the real estate services segment, with share prices up 11.4% on average over the last month. Newmark is up 26.9% during the same time and is heading into earnings with an average analyst price target of $13 (compared to the current share price of $12.98).
![Earnings To Watch: Newmark (NMRK) Reports Q2 Results Tomorrow](https://d68-invdn-com.investing.com/content/pice9131bdd8e27aca82cae2220241981a7.jpeg)