Newmark Group (NASDAQ:NMRK) Upgraded to “Buy” at Wall Street Zen

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

Other equities research analysts also recently issued research reports about the stock. Citizens Jmp began coverage on shares of Newmark Group in a research note on Monday, July 21st. They issued a “strong-buy” rating and a $17.00 target price on the stock. Wolfe Research upgraded shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $14.00 price target on the stock in a report on Friday, May 23rd. JMP Securities assumed coverage on shares of Newmark Group in a research note on Monday, July 21st. They issued a “market outperform” rating and a $17.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on Newmark Group from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Piper Sandler reduced their price target on Newmark Group from $19.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $16.00.

Newmark Group Trading Up 1.0%

Shares of NMRK stock opened at $13.59 on Friday. The company has a market cap of $2.51 billion, a PE ratio of 34.85 and a beta of 1.93. Newmark Group has a 1 year low of $9.65 and a 1 year high of $16.10. The stock’s 50 day simple moving average is $11.82 and its two-hundred day simple moving average is $12.26. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.47 and a quick ratio of 0.47.

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

Hedge Funds Weigh In On Newmark Group

A number of hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in shares of Newmark Group by 5.1% during the fourth quarter. American Century Companies Inc. now owns 1,541,854 shares of the company’s stock valued at $19,751,000 after acquiring an additional 75,502 shares in the last quarter. Sei Investments Co. increased its holdings in Newmark Group by 2.5% during the 4th quarter. Sei Investments Co. now owns 120,691 shares of the company’s stock worth $1,546,000 after purchasing an additional 2,976 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Newmark Group during the 4th quarter valued at $382,000. LPL Financial LLC bought a new stake in Newmark Group during the 4th quarter valued at $184,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Newmark Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company’s stock worth $270,479,000 after buying an additional 83,094 shares during the period. 58.42% of the stock is currently owned by 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.