Newmark Group (NASDAQ:NMRK) Hits New 52-Week High - Here's What Happened

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 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.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Newmark Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods lifted their price target on shares of Newmark Group from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Citizens Jmp assumed coverage on shares of Newmark Group in a research note on Monday, July 21st. They set a "strong-buy" rating and a $17.00 price target on the stock. Wolfe Research upgraded 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. Finally, Piper Sandler lifted their price target on shares of Newmark Group from $16.00 to $19.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $16.83.

Newmark Group Trading Down 1.5%

The stock has a market cap of $3.34 billion, a PE ratio of 45.02 and a beta of 2.08. The business's fifty day moving average is $15.95 and its 200 day moving average is $13.11. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.58.

Newmark Group (NASDAQ:NMRK - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share (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 analysts' expectations of $695.24 million. Newmark Group had a net margin of 2.51% and a return on equity of 22.73%. The firm's quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 earnings per share. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. As a group, 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 given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. Newmark Group's payout ratio is presently 28.57%.

Hedge Funds Weigh In On Newmark Group

A number of institutional investors have recently modified their holdings of NMRK. Osaic Holdings Inc. increased its position in Newmark Group by 57.1% during the second quarter. Osaic Holdings Inc. now owns 58,545 shares of the company's stock worth $712,000 after purchasing an additional 21,272 shares during the last quarter. Orion Porfolio Solutions LLC grew its stake in Newmark Group by 9.4% during the second quarter. Orion Porfolio Solutions LLC now owns 152,431 shares of the company's stock worth $1,852,000 after buying an additional 13,055 shares during the period. Tower Research Capital LLC TRC grew its stake in Newmark Group by 208.0% during the second quarter. Tower Research Capital LLC TRC now owns 14,488 shares of the company's stock worth $176,000 after buying an additional 9,784 shares during the period. Lazard Asset Management LLC grew its stake in Newmark Group by 335.9% during the second quarter. Lazard Asset Management LLC now owns 132,043 shares of the company's stock worth $1,603,000 after buying an additional 101,752 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in Newmark Group by 17.8% during the second quarter. Cubist Systematic Strategies LLC now owns 706,779 shares of the company's stock worth $8,587,000 after buying an additional 107,012 shares during the period. Institutional investors and hedge funds 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.