Newmark Group (NASDAQ:NMRK) Cut to "Hold" at Wall Street Zen

Wall Street Zen cut shares of Newmark Group (NASDAQ:NMRK - Free Report) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Several other equities analysts also recently commented on NMRK. 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 report on Friday, May 2nd. Piper Sandler lowered their price objective on Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, Wolfe Research raised shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target for the company in a research report on Friday, May 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $15.25.

Newmark Group Trading Down 0.6%

Shares of NMRK traded down $0.08 during midday trading on Friday, hitting $12.31. The stock had a trading volume of 961,135 shares, compared to its average volume of 1,179,473. The business has a 50-day simple moving average of $11.67 and a two-hundred day simple moving average of $12.24. The firm has a market cap of $2.27 billion, a P/E ratio of 9.40 and a beta of 1.93. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.50. Newmark Group has a fifty-two week low of $9.65 and a fifty-two week high of $16.10.

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

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were issued a $0.03 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.97%. Newmark Group's payout ratio is 30.77%.

Hedge Funds Weigh In On Newmark Group

A number of large investors have recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Newmark Group by 0.3% in the fourth quarter. Barclays PLC now owns 227,866 shares of the company's stock worth $2,919,000 after acquiring an additional 767 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Newmark Group by 1.3% in the 4th quarter. MetLife Investment Management LLC now owns 79,900 shares of the company's stock valued at $1,024,000 after buying an additional 1,035 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in Newmark Group by 10.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 11,878 shares of the company's stock valued at $145,000 after purchasing an additional 1,121 shares during the period. PNC Financial Services Group Inc. raised its stake in Newmark Group by 9.5% during the first quarter. PNC Financial Services Group Inc. now owns 14,396 shares of the company's stock worth $175,000 after buying an additional 1,250 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Newmark Group by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 32,806 shares of the company's stock valued at $420,000 after purchasing an additional 1,286 shares during the period. Institutional investors own 58.42% of the company's stock.

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.