Newmark Group (NASDAQ:NMRK) Downgraded to Hold Rating by Wall Street Zen

Newmark Group (NASDAQ:NMRK) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Friday.

A number of other brokerages have also weighed in on NMRK. Wolfe Research raised Newmark Group from a “peer perform” rating to an “outperform” rating and set a $14.00 price target on the stock in a research note on Friday, May 23rd. Keefe, Bruyette & Woods cut their target price on Newmark Group from $14.50 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Piper Sandler cut their target price on Newmark Group from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.25.

Newmark Group Trading Down 0.6%

Shares of Newmark Group stock opened at $12.31 on Friday. Newmark Group has a fifty-two week low of $9.65 and a fifty-two week high of $16.10. The firm has a market cap of $2.27 billion, a PE ratio of 31.56 and a beta of 1.93. The business’s fifty day moving average is $11.65 and its two-hundred day moving average is $12.24. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.50.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Newmark Group had a return on equity of 21.85% and a net margin of 2.39%. The company had revenue of $665.49 million for the quarter, compared to analyst estimates of $609.28 million. During the same quarter in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. Analysts anticipate that Newmark Group will post 1.45 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in Newmark Group in the 4th quarter valued at $274,000. Raymond James Financial Inc. acquired a new stake in Newmark Group in the 4th quarter valued at $4,785,000. Cibc World Markets Corp acquired a new stake in Newmark Group in the 4th quarter valued at $158,000. Summit Global Investments acquired a new stake in Newmark Group in the 4th quarter valued at $1,098,000. Finally, Quantbot Technologies LP acquired a new stake in Newmark Group in the 4th quarter valued at $594,000. 58.42% of the stock is owned by hedge funds and other institutional investors.

About Newmark Group

Newmark Group, Inc provides commercial real estate services in the United States, the United Kingdom, and internationally. The company offers capital markets consisting of investment sales and commercial mortgage brokerage; landlord or agency representation leasing; valuation and advisory; property management; commercial real estate technology platform and capabilities; the United Kingdom business rates services; due diligence, consulting, and other advisory services; GSEs and the Federal Housing Administration lending services comprising multifamily lending and loan servicing; asset management; and flexible workspace solutions for owners.