Brokerages Set Newmark Group, Inc. (NASDAQ:NMRK) Price Target at $17.83

Newmark Group, Inc. (NASDAQ:NMRK) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $17.8333.

NMRK has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Newmark Group in a report on Wednesday, October 8th. Zacks Research lowered Newmark Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Wall Street Zen upgraded Newmark Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 15th. JMP Securities boosted their price target on Newmark Group from $17.00 to $19.00 and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods upped their price objective on Newmark Group from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th.

Hedge Funds Weigh In On Newmark Group

A number of institutional investors have recently modified their holdings of NMRK. Geode Capital Management LLC grew its stake in 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 acquiring an additional 213,941 shares during the period. Millennium Management LLC lifted its stake in shares of Newmark Group by 89.7% during 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 during the period. Ameriprise Financial Inc. boosted its holdings in shares of Newmark Group by 88.9% during the second 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 during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Newmark Group by 2.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,481,417 shares of the company’s stock valued at $30,199,000 after purchasing an additional 55,628 shares during the period. Finally, Boston Partners increased its stake in Newmark Group by 65.2% in the second quarter. Boston Partners now owns 2,212,910 shares of the company’s stock valued at $26,899,000 after purchasing an additional 873,180 shares during the last quarter. Institutional investors and hedge funds own 58.42% of the company’s stock.

Newmark Group Price Performance

NMRK stock opened at $17.24 on Friday. The firm has a 50 day moving average of $17.89 and a 200-day moving average of $15.37. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 30.25 and a beta of 2.13. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.46. Newmark Group has a 12-month low of $9.65 and a 12-month high of $19.83.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. The business had revenue of $863.46 million for the quarter, compared to analyst estimates of $767.12 million. Newmark Group had a net margin of 3.26% and a return on equity of 23.69%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS. Newmark Group has set its FY 2025 guidance at 1.530-1.630 EPS. As a group, equities analysts expect that Newmark Group will post 1.45 EPS for the current fiscal year.

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Monday, November 17th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, November 17th. Newmark Group’s dividend payout ratio is 21.05%.

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.