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Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Newmark Group (NASDAQ:NMRK) Stock

Newmark Group logo with Finance background

Newmark Group (NASDAQ:NMRK - Get Free Report) had its price objective boosted by equities research analysts at Keefe, Bruyette & Woods from $14.00 to $15.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 11.57% from the company's current price.

NMRK has been the subject of a number of other research reports. JMP Securities initiated coverage on Newmark Group in a research note on Monday. They set a "market outperform" rating and a $17.00 price objective for the company. Wolfe Research upgraded Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target for the company in a research note on Friday, May 23rd. Wall Street Zen lowered Newmark Group from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Citizens Jmp initiated coverage on Newmark Group in a research note on Monday. They issued a "strong-buy" rating and a $17.00 price target for the company. Finally, Piper Sandler cut their price target on Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $16.00.

View Our Latest Stock Report on Newmark Group

Newmark Group Stock Performance

NMRK stock traded up $0.18 during midday trading on Thursday, reaching $13.45. The stock had a trading volume of 478,672 shares, compared to its average volume of 1,098,037. The firm has a fifty day simple moving average of $11.74 and a two-hundred day simple moving average of $12.24. The stock has a market cap of $2.48 billion, a PE ratio of 34.48 and a beta of 1.93. Newmark Group has a 52-week low of $9.65 and a 52-week high of $16.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.47 and a current ratio of 0.47.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. The business had revenue of $665.49 million during the quarter, compared to analyst estimates of $609.28 million. Newmark Group had a return on equity of 21.85% and a net margin of 2.39%. The company's revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. As a group, equities research analysts anticipate that Newmark Group will post 1.45 EPS for the current year.

Institutional Investors Weigh In On Newmark Group

Institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new stake in Newmark Group in the 1st quarter worth about $26,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Newmark Group in the 1st quarter worth about $47,000. Sterling Capital Management LLC boosted its holdings in Newmark Group by 813.9% in the 4th quarter. Sterling Capital Management LLC now owns 4,149 shares of the company's stock worth $53,000 after buying an additional 3,695 shares during the last quarter. KBC Group NV acquired a new stake in Newmark Group in the 1st quarter worth about $78,000. Finally, CWM LLC boosted its holdings in Newmark Group by 63.8% in the 1st quarter. CWM LLC now owns 7,693 shares of the company's stock worth $94,000 after buying an additional 2,996 shares during the last quarter. 58.42% of the stock is currently owned by institutional investors and hedge funds.

About Newmark Group

(Get Free Report)

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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Analyst Recommendations for Newmark Group (NASDAQ:NMRK)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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