Newmark Group (NASDAQ:NMRK) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Newmark Group (NASDAQ:NMRK) from a strong-buy rating to a hold rating in a report released on Thursday,Zacks.com reports.

NMRK has been the subject of several other reports. Piper Sandler lifted their price target on shares of Newmark Group from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Keefe, Bruyette & Woods lifted their price target on shares of Newmark Group from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. JMP Securities lifted their price target on shares of Newmark Group from $17.00 to $19.00 and gave the company a “market outperform” rating in a report on Thursday, July 31st. Wall Street Zen raised shares of Newmark Group from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Citizens Jmp started coverage on shares of Newmark Group in a report on Monday, July 21st. They issued a “strong-buy” rating and a $17.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.83.

Newmark Group Price Performance

Shares of NMRK stock opened at $18.18 on Thursday. The firm has a market cap of $3.21 billion, a P/E ratio of 43.29 and a beta of 2.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.39 and a quick ratio of 0.39. Newmark Group has a 1-year low of $9.65 and a 1-year high of $19.78. The firm has a fifty day moving average of $17.69 and a two-hundred day moving average of $13.69.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The company had revenue of $759.10 million during the quarter, compared to analyst estimates of $695.24 million. Newmark Group had a net margin of 2.51% and a return on equity of 22.73%. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period last year, the business earned $0.22 EPS. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. As a group, research analysts anticipate that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 14th. Newmark Group’s payout ratio is 28.57%.

Institutional Trading of Newmark Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Newmark Group by 5.9% in the 2nd quarter. Geode Capital Management LLC now owns 3,823,432 shares of the company’s stock worth $46,460,000 after purchasing an additional 213,941 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Newmark Group by 89.7% in the 1st quarter. Millennium Management LLC now owns 3,635,561 shares of the company’s stock worth $44,245,000 after purchasing an additional 1,719,375 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Newmark Group by 88.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,520,314 shares of the company’s stock worth $30,622,000 after purchasing an additional 1,186,191 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Newmark Group by 2.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,481,417 shares of the company’s stock worth $30,199,000 after purchasing an additional 55,628 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Newmark Group by 65.2% in the 2nd quarter. Boston Partners now owns 2,212,910 shares of the company’s stock worth $26,899,000 after purchasing an additional 873,180 shares in the last quarter. 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.