Newmark Group Sees Q4 EPS $0.42-$0.49 Vs $0.30 Est.; Revenue $692M-$742M Vs $660.9M Est.; FY23 EPS $1.02-$1.09 Vs $0.87 Est.; Revenue $2.415B-$2.465B Vs $2.37B Est.
Portfolio Pulse from Benzinga Newsdesk
Newmark Group has updated its Q4 and FY23 guidance, expecting higher EPS and revenue than previously estimated. The company's updated guidance reflects the continued impact of the current interest rate environment. Newmark expects its Q4 EPS to be $0.42-$0.49, up from $0.30 estimated, and revenue to be $692M-$742M, up from $660.9M estimated. For FY23, the company expects EPS to be $1.02-$1.09, up from $0.87 estimated, and revenue to be $2.415B-$2.465B, up from $2.37B estimated.
November 01, 2023 | 12:06 pm
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Newmark Group has updated its Q4 and FY23 guidance, expecting higher EPS and revenue than previously estimated. This could potentially lead to a positive impact on the company's stock price.
The company's updated guidance, which is higher than previously estimated, indicates that it is performing well financially. This could potentially lead to increased investor confidence and a rise in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100