Newmark Group (NASDAQ:NMRK) Upgraded by Wall Street Zen to "Buy" Rating

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

A number of other brokerages also recently weighed in on NMRK. Wolfe Research upgraded Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price target for the company in a report on Friday, May 23rd. The Goldman Sachs Group lowered their target price on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Keefe, Bruyette & Woods lowered their price objective on shares of Newmark Group from $14.50 to $14.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Piper Sandler cut their target price on shares of Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $15.25.

Newmark Group Stock Down 0.9%

Shares of NMRK traded down $0.10 during midday trading on Friday, hitting $11.16. The company had a trading volume of 2,402,216 shares, compared to its average volume of 1,163,965. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 28.62 and a beta of 1.94. The company's 50 day moving average price is $11.09 and its 200 day moving average price is $12.43. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.50. Newmark Group has a 52 week low of $9.64 and a 52 week high of $16.10.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. Newmark Group had a return on equity of 21.85% and a net margin of 2.39%. The business had revenue of $665.49 million during the quarter, compared to the consensus estimate of $609.28 million. During the same period last year, the firm earned $0.15 earnings per share. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities research analysts predict that Newmark Group will post 1.45 EPS for the current year.

Newmark Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Wednesday, May 14th. Newmark Group's dividend payout ratio (DPR) is 30.77%.

Institutional Trading of Newmark Group

Several hedge funds have recently bought and sold shares of NMRK. Financial Management Professionals Inc. bought a new position in Newmark Group in the 1st quarter worth about $26,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Newmark Group during the first quarter worth approximately $47,000. Sterling Capital Management LLC grew its holdings in Newmark Group by 813.9% in the 4th quarter. Sterling Capital Management LLC now owns 4,149 shares of the company's stock worth $53,000 after buying an additional 3,695 shares in the last quarter. KBC Group NV bought a new position in Newmark Group in the 1st quarter worth approximately $78,000. Finally, CWM LLC raised its stake 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 acquiring an additional 2,996 shares in the last quarter. 58.42% of the stock is currently 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.