Newmark Group, Inc. (NASDAQ:NMRK) Receives Consensus Rating of “Hold” from Brokerages

Shares of Newmark Group, Inc. (NASDAQ:NMRKGet Rating) have received an average recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $17.00.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut Newmark Group from a “buy” rating to a “hold” rating in a report on Thursday, April 14th. Piper Sandler cut Newmark Group from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $20.00 to $15.00 in a report on Monday, April 18th. The Goldman Sachs Group assumed coverage on Newmark Group in a report on Tuesday, April 5th. They set a “neutral” rating and a $18.00 target price on the stock. Raymond James dropped their target price on Newmark Group from $21.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday, April 26th. Finally, Wolfe Research cut Newmark Group from an “outperform” rating to a “peer perform” rating and dropped their target price for the stock from $22.00 to $17.00 in a report on Thursday, March 10th.

NASDAQ:NMRK opened at $11.00 on Friday. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 3.14, a price-to-earnings-growth ratio of 0.62 and a beta of 1.77. Newmark Group has a one year low of $10.85 and a one year high of $19.10. The stock has a 50-day simple moving average of $14.24 and a 200 day simple moving average of $15.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.67 and a current ratio of 0.73.

Newmark Group (NASDAQ:NMRKGet Rating) last issued its earnings results on Friday, April 29th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Newmark Group had a net margin of 23.31% and a return on equity of 30.23%. The firm had revenue of $678.20 million for the quarter, compared to analysts’ expectations of $652.97 million. During the same quarter last year, the company posted $0.20 earnings per share. Newmark Group’s revenue was up 34.6% on a year-over-year basis. On average, equities research analysts forecast that Newmark Group will post 1.82 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th will be given a dividend of $0.03 per share. This is a positive change from Newmark Group’s previous quarterly dividend of $0.01. The ex-dividend date is Friday, May 13th. This represents a $0.12 dividend on an annualized basis and a yield of 1.09%. Newmark Group’s payout ratio is currently 1.14%.

In other news, Chairman Howard W. Lutnick acquired 9,800 shares of the firm’s stock in a transaction on Wednesday, February 23rd. The shares were purchased at an average cost of $16.75 per share, with a total value of $164,150.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Howard W. Lutnick acquired 50,000 shares of the firm’s stock in a transaction on Monday, February 14th. The shares were purchased at an average cost of $16.53 per share, for a total transaction of $826,500.00. The disclosure for this purchase can be found here. 27.10% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Morgan Stanley lifted its holdings in Newmark Group by 125.2% in the second quarter. Morgan Stanley now owns 896,142 shares of the company’s stock valued at $10,763,000 after buying an additional 498,233 shares during the period. SG Americas Securities LLC bought a new stake in Newmark Group in the third quarter valued at approximately $729,000. Deutsche Bank AG increased its position in shares of Newmark Group by 112.6% during the third quarter. Deutsche Bank AG now owns 261,042 shares of the company’s stock worth $3,736,000 after acquiring an additional 138,239 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of Newmark Group during the third quarter worth $45,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Newmark Group during the third quarter worth $256,000. Institutional investors own 58.17% of the company’s stock.

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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