Newmark Group (NASDAQ:NMRK) Rating Increased to Buy at Wall Street Zen

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

Other equities analysts also recently issued research reports about the company. Wolfe Research upgraded Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective on the stock in a research note on Friday, May 23rd. The Goldman Sachs Group dropped their price target on Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. 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, Keefe, Bruyette & Woods dropped their price objective on shares of Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $15.25.

Newmark Group Stock Performance

Newmark Group stock traded up $0.27 during mid-day trading on Friday, reaching $12.04. 1,684,884 shares of the company's stock were exchanged, compared to its average volume of 1,167,972. The business's fifty day simple moving average is $11.12 and its 200 day simple moving average is $12.40. 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 one year low of $9.64 and a one year high of $16.10. The firm has a market capitalization of $2.22 billion, a PE ratio of 30.87 and a beta of 1.94.

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

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Wednesday, May 14th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Wednesday, May 14th. Newmark Group's dividend payout ratio (DPR) is presently 30.77%.

Institutional Trading of Newmark Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC increased its position in shares of Newmark Group by 22.8% during the first quarter. Voya Investment Management LLC now owns 84,215 shares of the company's stock valued at $1,025,000 after buying an additional 15,621 shares during the period. Strs Ohio purchased a new position in Newmark Group during the first quarter valued at approximately $298,000. Intech Investment Management LLC increased its holdings in Newmark Group by 39.3% during the 1st quarter. Intech Investment Management LLC now owns 127,299 shares of the company's stock worth $1,549,000 after acquiring an additional 35,926 shares during the period. Jane Street Group LLC lifted its stake in Newmark Group by 148.3% in the 1st quarter. Jane Street Group LLC now owns 390,633 shares of the company's stock worth $4,754,000 after purchasing an additional 233,330 shares in the last quarter. Finally, Aristeia Capital L.L.C. bought a new position in Newmark Group in the 1st quarter valued at $481,000. Hedge funds and other institutional investors own 58.42% of the company's stock.

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.