Newmark Group, Inc. (NASDAQ:NMRK) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Newmark Group, Inc. has received a consensus rating of "Buy" from six analysts, with an average one-year price target of $16.83.
• The company reported earnings per share of $0.31 for the last quarter, surpassing estimates of $0.26, alongside quarterly revenue of $759.10 million, which was up 19.9% year-over-year.
• Newmark Group will pay a quarterly dividend of $0.03 per share on August 29th, which indicates a 0.7% dividend yield for shareholders of record by August 14th.

Newmark Group, Inc. (NASDAQ:NMRK - Get Free Report) has been assigned an average recommendation of "Buy" from the six brokerages that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $16.8333.

A number of analysts have weighed in on NMRK shares. Keefe, Bruyette & Woods increased their price target on Newmark Group from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. JMP Securities increased their price objective on shares of Newmark Group from $17.00 to $19.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Wall Street Zen raised shares of Newmark Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Citizens Jmp started coverage on Newmark Group in a research note on Monday, July 21st. They issued a "strong-buy" rating and a $17.00 price objective for the company. Finally, Piper Sandler increased their price objective on Newmark Group from $16.00 to $19.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th.

Newmark Group Trading Down 0.5%

NASDAQ NMRK traded down $0.08 on Friday, reaching $17.29. The company had a trading volume of 1,216,337 shares, compared to its average volume of 1,722,469. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 41.17 and a beta of 2.04. Newmark Group has a fifty-two week low of $9.65 and a fifty-two week high of $17.47. The business has a 50 day moving average of $13.28 and a two-hundred day moving average of $12.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.39 and a quick ratio of 0.47.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.05. The business had revenue of $759.10 million during the quarter, compared to the consensus estimate of $695.24 million. Newmark Group had a return on equity of 22.73% and a net margin of 2.51%. Newmark Group's quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. Analysts forecast that Newmark Group will post 1.45 EPS for the current year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, August 14th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.7%. Newmark Group's dividend payout ratio is currently 28.57%.

Hedge Funds Weigh In On Newmark Group

Several institutional investors have recently modified their holdings of NMRK. Nuveen LLC bought a new stake in shares of Newmark Group in the 1st quarter worth approximately $21,497,000. Millennium Management LLC raised its holdings in shares of Newmark Group by 89.7% in 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. Adage Capital Partners GP L.L.C. bought a new stake in shares of Newmark Group in the 2nd quarter worth approximately $14,580,000. Ameriprise Financial Inc. raised its holdings in shares of Newmark Group by 88.9% in the 2nd 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 period. Finally, Boston Partners raised its holdings in shares of Newmark Group by 593.5% in the 1st quarter. Boston Partners now owns 1,339,730 shares of the company's stock worth $16,299,000 after purchasing an additional 1,146,544 shares during the period. 58.42% of the stock is owned by institutional investors.

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.