Newmark Group (NASDAQ:NMRK) Hits New 1-Year High - Here's Why

Key Points

• Newmark Group's stock price reached a new 52-week high of $19.83, closing at $19.64 with a trading volume of 177,505 shares.
• Wall Street analysts have issued a consensus rating of Moderate Buy for Newmark Group, with target prices ranging from $17.00 to $21.00.
• Newmark Group reported a 19.9% increase in revenue year-over-year, achieving earnings per share of $0.31, surpassing analysts' estimates.

Newmark Group, Inc. (NASDAQ:NMRK - Get Free Report)'s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $19.83 and last traded at $19.64, with a volume of 177505 shares trading hands. The stock had previously closed at $19.35.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler increased their target price on shares of Newmark Group from $16.00 to $19.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Citizens Jmp assumed coverage on shares of Newmark Group in a research report on Monday, July 21st. They issued a "strong-buy" rating and a $17.00 target price for the company. JMP Securities increased their price target on shares of Newmark Group from $17.00 to $19.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 31st. Keefe, Bruyette & Woods increased their price target on shares of Newmark Group from $18.00 to $21.00 and gave the stock an "outperform" rating in a research note on Thursday, October 9th. Finally, Wall Street Zen upgraded shares of Newmark Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $17.83.

Newmark Group Stock Down 0.1%

The firm's 50-day simple moving average is $18.32 and its 200-day simple moving average is $14.25. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 46.05 and a beta of 2.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.39 and a current ratio of 0.39.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.05. The company had revenue of $759.10 million during the quarter, compared to the consensus estimate of $695.24 million. Newmark Group had a net margin of 2.51% and a return on equity of 22.73%. The firm's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. Sell-side analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 14th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 14th. Newmark Group's dividend payout ratio (DPR) is currently 28.57%.

Hedge Funds Weigh In On Newmark Group

Several institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Newmark Group by 6.3% during the 3rd quarter. CWM LLC now owns 12,531 shares of the company's stock valued at $234,000 after purchasing an additional 738 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Newmark Group by 4.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 21,743 shares of the company's stock valued at $264,000 after purchasing an additional 949 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Newmark Group by 8.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,515 shares of the company's stock valued at $152,000 after purchasing an additional 968 shares during the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of Newmark Group by 10.4% in the first quarter. OneDigital Investment Advisors LLC now owns 11,878 shares of the company's stock worth $145,000 after acquiring an additional 1,121 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Newmark Group by 11.1% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 12,000 shares of the company's stock worth $224,000 after acquiring an additional 1,200 shares during the last quarter. 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.

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