Newmark Group, Inc. (NASDAQ:NMRK) Given Consensus Rating of “Hold” by Analysts

Shares of Newmark Group, Inc. (NASDAQ:NMRKGet Rating) have been assigned an average rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $17.75.

Several research firms recently commented on NMRK. Zacks Investment Research downgraded shares of Newmark Group from a “buy” rating to a “hold” rating in a research note on Thursday. Wolfe Research downgraded shares of Newmark Group from an “outperform” rating to a “peer perform” rating and reduced their price objective for the stock from $22.00 to $17.00 in a research note on Thursday, March 10th. The Goldman Sachs Group started coverage on shares of Newmark Group in a research note on Tuesday, April 5th. They set a “neutral” rating and a $18.00 price objective on the stock. Finally, Piper Sandler downgraded shares of Newmark Group from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $20.00 to $15.00 in a research note on Monday.

NMRK stock opened at $13.29 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.67 and a quick ratio of 0.67. The company has a 50-day simple moving average of $15.99. Newmark Group has a 52 week low of $10.25 and a 52 week high of $19.10. The firm has a market capitalization of $2.51 billion, a P/E ratio of 3.63, a PEG ratio of 0.72 and a beta of 1.71.

Newmark Group (NASDAQ:NMRKGet Rating) last released its quarterly earnings results on Friday, February 11th. The company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.10. Newmark Group had a net margin of 25.83% and a return on equity of 31.11%. The business had revenue of $984.50 million for the quarter, compared to the consensus estimate of $876.23 million. During the same period in the prior year, the company posted $0.30 earnings per share. Newmark Group’s revenue was up 63.7% compared to the same quarter last year. On average, equities research analysts anticipate that Newmark Group will post 1.85 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, February 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.30%. Newmark Group’s dividend payout ratio (DPR) is currently 1.09%.

In other Newmark Group news, Chairman Howard W. Lutnick acquired 227,000 shares of the company’s stock in a transaction that occurred on Friday, February 11th. The stock was acquired at an average price of $17.36 per share, for a total transaction of $3,940,720.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Howard W. Lutnick acquired 9,800 shares of the company’s stock in a transaction that occurred on Wednesday, February 23rd. The stock was acquired at an average price of $16.75 per share, with a total value of $164,150.00. The disclosure for this purchase can be found here. Insiders bought 286,800 shares of company stock valued at $4,931,370 in the last three months. Company insiders own 27.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Cardinal Capital Management LLC CT increased its position in Newmark Group by 4.4% during the 3rd quarter. Cardinal Capital Management LLC CT now owns 6,542,432 shares of the company’s stock valued at $93,622,000 after purchasing an additional 278,092 shares during the period. State Street Corp increased its position in Newmark Group by 0.8% during the 4th quarter. State Street Corp now owns 3,031,475 shares of the company’s stock valued at $56,689,000 after purchasing an additional 25,166 shares during the period. American Century Companies Inc. increased its position in Newmark Group by 13.1% during the 4th quarter. American Century Companies Inc. now owns 2,924,019 shares of the company’s stock valued at $54,679,000 after purchasing an additional 339,367 shares during the period. Royal Bank of Canada grew its position in shares of Newmark Group by 16.4% during the 3rd quarter. Royal Bank of Canada now owns 2,776,908 shares of the company’s stock worth $39,737,000 after buying an additional 391,102 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Newmark Group by 6.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,749,104 shares of the company’s stock worth $39,342,000 after buying an additional 167,074 shares during the period. 50.38% of the stock is owned by institutional investors and hedge funds.

About Newmark Group (Get Rating)

Newmark Group, Inc provides commercial real estate services in the United States and internationally. The company's investor/owner services and products include capital markets, such as investment, debt and structured finance, and loan sales; agency leasing, property management, and valuation and advisory; and commercial real estate due diligence consulting and advisory services, as well as government sponsored enterprise lending, loan servicing, mortgage broking, and equity-raising services.

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