Newmark Group (NASDAQ:NMRK) Now Covered by Analysts at Citizens Jmp

Equities research analysts at Citizens Jmp assumed coverage on shares of Newmark Group (NASDAQ:NMRK - Get Free Report) in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm set a "mkt outperform" rating and a $17.00 price target on the stock. Citizens Jmp's price target points to a potential upside of 33.44% from the stock's previous close.

Other equities analysts have also issued research reports about the company. Wall Street Zen lowered Newmark Group from a "buy" rating to a "hold" rating in a research note on Friday. Piper Sandler lowered their price target on shares of Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. JMP Securities began coverage on shares of Newmark Group in a research note on Monday. They set a "market outperform" rating and a $17.00 target price on the stock. Keefe, Bruyette & Woods lowered their price target on Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Wolfe Research raised shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target on the stock in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Newmark Group has an average rating of "Moderate Buy" and a consensus price target of $15.83.

Newmark Group Stock Up 3.5%

Shares of NMRK traded up $0.43 during midday trading on Monday, hitting $12.74. 422,176 shares of the company's stock traded hands, compared to its average volume of 1,176,627. Newmark Group has a 1 year low of $9.65 and a 1 year high of $16.10. The firm's fifty day moving average is $11.67 and its 200-day moving average is $12.23. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 32.59 and a beta of 1.93.

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

Institutional Investors Weigh In On Newmark Group

A number of institutional investors have recently modified their holdings of NMRK. Vanguard Group Inc. grew its position in shares of Newmark Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company's stock worth $270,479,000 after buying an additional 83,094 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Newmark Group by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,374,705 shares of the company's stock valued at $81,660,000 after purchasing an additional 88,618 shares during the last quarter. 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 valued at $44,245,000 after purchasing an additional 1,719,375 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Newmark Group by 103.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,948,511 shares of the company's stock worth $37,770,000 after purchasing an additional 1,502,372 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Newmark Group by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,481,417 shares of the company's stock worth $30,199,000 after purchasing an additional 55,628 shares in the last quarter. 58.42% of the stock is owned by institutional investors and hedge funds.

Newmark Group Company Profile

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.