Newmark Group (NASDAQ:NMRK) Price Target Cut to $14.50 by Analysts at Keefe, Bruyette & Woods

Newmark Group (NASDAQ:NMRK - Get Free Report) had its price objective reduced by analysts at Keefe, Bruyette & Woods from $18.00 to $14.50 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 41.19% from the stock's current price.

Separately, The Goldman Sachs Group lowered their target price on Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th.

Newmark Group Stock Up 1.8 %

Shares of Newmark Group stock traded up $0.18 during trading on Thursday, reaching $10.27. The stock had a trading volume of 335,798 shares, compared to its average volume of 1,133,149. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 29.32 and a beta of 1.69. Newmark Group has a 52 week low of $9.45 and a 52 week high of $16.10. The stock has a fifty day moving average price of $12.47 and a two-hundred day moving average price of $13.63.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its quarterly earnings results on Friday, February 14th. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.07. The firm had revenue of $888.30 million during the quarter, compared to the consensus estimate of $790.76 million. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The business's revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 EPS. Sell-side analysts predict that Newmark Group will post 1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Newmark Group

Several hedge funds have recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new position in shares of Newmark Group in the 1st quarter valued at $26,000. Sterling Capital Management LLC lifted its stake in Newmark Group by 813.9% in the 4th quarter. Sterling Capital Management LLC now owns 4,149 shares of the company's stock valued at $53,000 after purchasing an additional 3,695 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Newmark Group by 43.5% in the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company's stock valued at $110,000 after acquiring an additional 2,602 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Newmark Group by 48.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company's stock valued at $120,000 after acquiring an additional 3,070 shares in the last quarter. Finally, Optimize Financial Inc acquired a new position in Newmark Group in the 4th quarter worth about $132,000. 58.42% of the stock is currently owned by institutional investors and hedge funds.

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.