Wall Street Zen Downgrades Newmark Group (NASDAQ:NMRK) to Hold

Wall Street Zen downgraded shares of Newmark Group (NASDAQ:NMRK - Free Report) from a buy rating to a hold rating in a research report released on Friday morning.

A number of other equities analysts also recently issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on Newmark Group from $14.50 to $14.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Piper Sandler decreased their price objective on Newmark Group from $19.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 target price on the stock in a research note on Friday, May 23rd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $15.83.

Newmark Group Trading Up 2.7%

NMRK stock traded up $0.35 during midday trading on Friday, hitting $13.10. The company had a trading volume of 1,227,073 shares, compared to its average volume of 1,185,890. 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 52 week low of $9.65 and a 52 week high of $16.10. The stock's 50 day moving average price is $11.68 and its 200 day moving average price is $12.23. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 33.59 and a beta of 1.93.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its quarterly 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 net margin of 2.39% and a return on equity of 21.85%. The business 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 earnings per share. The firm's revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, equities research analysts expect that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Wednesday, May 14th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.92%. Newmark Group's dividend payout ratio (DPR) is presently 30.77%.

Institutional Inflows and Outflows

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