Newmark Group (NASDAQ:NMRK) Hits New 12-Month High - Should You Buy?

Key Points

• Newmark Group's stock hit a new 52-week high of $19.15 and closed at $18.82, marking significant trading interest with over 1 million shares exchanged.
• Analysts have generally positive ratings for Newmark Group, with a consensus "Buy" rating and target price of $16.83, following multiple upgrades from firms like JMP Securities and Wolfe Research.
• The company reported stronger-than-expected quarterly earnings with $0.31 EPS, beating estimates by $0.05, and a year-over-year revenue increase of 19.9% to $759.10 million.

Newmark Group, Inc. (NASDAQ:NMRK - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $19.15 and last traded at $18.82, with a volume of 1021934 shares traded. The stock had previously closed at $18.70.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 target price for the company in a research report on Friday, May 23rd. Citizens Jmp initiated coverage on 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 raised their price objective on Newmark Group from $17.00 to $19.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Piper Sandler raised their price objective on Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Wall Street Zen raised Newmark Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat, Newmark Group presently has a consensus rating of "Buy" and a consensus target price of $16.83.

Newmark Group Trading Up 0.6%

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market cap of $3.33 billion, a P/E ratio of 44.81 and a beta of 2.08. The stock has a 50-day moving average of $15.55 and a two-hundred day moving average of $13.03.

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 company had revenue of $759.10 million during the quarter, compared to analyst estimates of $695.24 million. Newmark Group had a return on equity of 22.73% and a net margin of 2.51%.The firm's revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the company earned $0.22 EPS. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. On average, equities research analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 14th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.6%. Newmark Group's dividend payout ratio (DPR) is presently 28.57%.

Institutional Trading of Newmark Group

A number of institutional investors and hedge funds have recently modified their holdings of NMRK. Nuveen LLC bought a new stake in shares of Newmark Group in the 1st quarter worth $21,497,000. Millennium Management LLC lifted its position in Newmark Group by 89.7% during the first 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 during the period. Adage Capital Partners GP L.L.C. bought a new position in Newmark Group during the second quarter valued at approximately $14,580,000. Ameriprise Financial Inc. lifted its position in Newmark Group by 88.9% during the second quarter. Ameriprise Financial Inc. now owns 2,520,314 shares of the company's stock valued at $30,622,000 after purchasing an additional 1,186,191 shares during the period. Finally, Boston Partners lifted its position in Newmark Group by 593.5% during the first quarter. Boston Partners now owns 1,339,730 shares of the company's stock valued at $16,299,000 after purchasing an additional 1,146,544 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.

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