Newmark Group, Inc. (NMRK) provides commercial real estate services internationally. The company recently reported its solid fourth-quarter earnings results, beating Street estimates for revenues and adjusted EPS by 10.9% and 18.2%, respectively. It also surpassed the consensus revenue and EPS estimates in each trailing four quarters. Furthermore, it launched Optality, a dynamic portfolio optimization solution to enable enterprises to add flexibility to their office space in real-time.
NMRK expects total revenues and adjusted EBITDA for fiscal 2022 to be between $3 - $3.10 billion and $620 - $650 million, representing a 3% - 7% and 4% - 9% year-over-year increase, respectively. The stock has gained 20.2% over the past six months to close yesterday’s trading session at $15.70. In addition, it is currently trading 17.8% below its 52-week high of $19.10, which it hit on January 3, 2022. Moreover, the red-hot housing market makes its near-term prospects bright.
