Keefe, Bruyette & Woods Boosts Newmark Group (NASDAQ:NMRK) Price Target to $21.00

Key Points

• Keefe, Bruyette & Woods has increased the price target for Newmark Group (NMRK) from $18.00 to $21.00, indicating a potential upside of 21.64% based on the current price.
• Newmark Group reported a net margin of 2.51% and a quarterly revenue increase of 19.9% year-over-year, exceeding analysts' expectations with $759.10 million in revenue.
• The stock has seen multiple analysts adjusting their ratings, with an overall average rating of "Moderate Buy" and an average target price of $17.83.

Newmark Group (NASDAQ:NMRK - Get Free Report) had its target price lifted by analysts at Keefe, Bruyette & Woods from $18.00 to $21.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price target suggests a potential upside of 21.64% from the company's current price.

NMRK has been the subject of a number of other reports. JMP Securities upped their price target on Newmark Group from $17.00 to $19.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Zacks Research cut Newmark Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 2nd. Citizens Jmp initiated coverage on Newmark Group in a report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 price target on the stock. Piper Sandler upped their target price on Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Newmark Group in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $17.83.

Newmark Group Price Performance

Newmark Group stock traded up $0.35 during trading hours on Thursday, hitting $17.26. 446,198 shares of the company traded hands, compared to its average volume of 1,210,965. The firm's 50-day simple moving average is $17.87 and its two-hundred day simple moving average is $13.78. The firm has a market cap of $3.05 billion, a P/E ratio of 41.17 and a beta of 2.09. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.58. Newmark Group has a 1-year low of $9.65 and a 1-year high of $19.78.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. purchased a new position in shares of Newmark Group in the third quarter worth $7,129,000. Cullen Capital Management LLC purchased a new position in shares of Newmark Group in the second quarter worth $442,000. Osaic Holdings Inc. increased its position in Newmark Group by 57.1% during the second quarter. Osaic Holdings Inc. now owns 58,545 shares of the company's stock valued at $712,000 after acquiring an additional 21,272 shares during the last quarter. Orion Porfolio Solutions LLC increased its position in Newmark Group by 9.4% during the second quarter. Orion Porfolio Solutions LLC now owns 152,431 shares of the company's stock valued at $1,852,000 after acquiring an additional 13,055 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Newmark Group by 208.0% during the second quarter. Tower Research Capital LLC TRC now owns 14,488 shares of the company's stock valued at $176,000 after acquiring an additional 9,784 shares during the last quarter. Hedge funds and other institutional investors own 58.42% of the company's stock.

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.

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