Newmark Group, Inc. (NASDAQ:NMRK) Stock Has Consensus Price Target of $17.60 According to Analysts

Key Points

• Analysts have a consensus “Hold” rating on Newmark Group, based on seven firms, with an average 12-month price target of $17.60. Ratings include four buys, two holds, and one sell.
• Newmark reported quarterly EPS of $0.48, slightly above the $0.47 estimate, while revenue of $973.2 million beat forecasts and rose 12.7% year over year.
• The company declared a quarterly dividend of $0.06 per share, equivalent to $0.24 annually and a 2.0% yield.

Shares of Newmark Group, Inc. (NASDAQ:NMRK - Get Free Report) have been assigned a consensus recommendation of "Hold" from the seven research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $17.60.

A number of equities analysts have recently weighed in on NMRK shares. Keefe, Bruyette & Woods lowered their price target on shares of Newmark Group from $17.50 to $16.00 and set an "outperform" rating on the stock in a research note on Friday, October 9th. Weiss Ratings upgraded shares of Newmark Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, October 13th. Wall Street Zen cut shares of Newmark Group from a "buy" rating to a "hold" rating in a research note on Saturday, October 24th. Citigroup reissued a "market outperform" rating on shares of Newmark Group in a report on Thursday, October 22nd. Finally, Piper Sandler lowered shares of Newmark Group from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $14.00 to $13.00 in a research report on Monday, October 19th.

Newmark Group Stock Down 0.3%

Newmark Group stock opened at $11.91 on Friday. Newmark Group has a twelve month low of $11.13 and a twelve month high of $18.25. The stock has a 50 day moving average of $12.91 and a two-hundred day moving average of $14.74. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 14.35 and a beta of 1.80.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.01. Newmark Group had a return on equity of 27.61% and a net margin of 4.07%. The business had revenue of $973.20 million for the quarter, compared to analyst estimates of $957.78 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, research analysts expect that Newmark Group will post 1.86 earnings per share for the current year.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, November 13th. Newmark Group's dividend payout ratio (DPR) is presently 28.92%.

Institutional Investors Weigh In On Newmark Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Diversified Trust Co grew its position in shares of Newmark Group by 2.9% in the third quarter. Diversified Trust Co now owns 89,573 shares of the company's stock valued at $1,098,000 after purchasing an additional 2,539 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Newmark Group by 4.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 53,235 shares of the company's stock worth $673,000 after buying an additional 2,439 shares during the period. Point Nemo Capital LLC purchased a new position in Newmark Group during the third quarter worth about $1,133,000. Ethic Inc. purchased a new position in Newmark Group during the third quarter worth about $138,000. Finally, CenterBook Partners LP acquired a new stake in Newmark Group in the 3rd quarter worth about $354,000. Institutional investors and hedge funds own 58.42% of the company's stock.

Newmark Group Company Profile

Newmark Group, Inc is a global commercial real estate services company that provides advisory, transaction, and management services to occupiers, owners, investors, and developers. Its services cover office, industrial, retail, multifamily, hospitality, and other commercial property sectors.

The company assists clients with leasing, investment sales, acquisition and disposition advisory, debt and structured finance, valuation, consulting, and property and facilities management. Newmark also provides corporate real estate services, workplace strategy, capital markets advice, and technology-enabled data and research solutions.

Newmark serves clients through operations in major real estate markets across North America, Europe, Asia-Pacific, and other international regions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.