Can Newmark Group (NMRK) Run Higher on Rising Earnings Estimates?

Investors might want to bet on Newmark Group (NMRK), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.Analysts' growing optimism on the earnings prospects of this provider of commercial real estate services is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.Consensus earnings estimates for the next quarter and full year have moved considerably higher for Newmark Group, as there has been strong agreement among the covering analysts in raising estimates.Current-Quarter Estimate RevisionsThe company is expected to earn $0.19 per share for the current quarter, which represents a year-over-year change of +26.67%.The Zacks Consensus Estimate for Newmark Group has increased 5.71% over the last 30 days, as one estimate has gone higher compared to no negative revisions.Current-Year Estimate RevisionsFor the full year, the company is expected to earn $1.45 per share, representing a year-over-year change of +17.89%.The revisions trend for the current year also appears quite promising for Newmark Group, with one estimate moving higher over the past month compared to no negative revisions. The consensus estimate has also received a boost over this time frame, increasing 5.45%.Favorable Zacks RankThanks to promising estimate revisions, Newmark Group currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.Bottom LineWhile strong estimate revisions for Newmark Group have attracted decent investments and pushed the stock 5.5% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmark Group, Inc. (NMRK): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks