Newmark Group (NASDAQ:NMRK) Hits New 52-Week High - Should You Buy?

Key Points

• Newmark Group's stock reached a new 52-week high of $16.48, closing the latest trading session at $16.14 with a volume of 1.38 million shares traded.
• The company reported earnings per share of $0.31 for the last quarter, beating estimates and showing a 19.9% increase in year-over-year revenue.
• Newmark Group has received multiple upgrades from analysts, with a consensus rating of "Buy" and an average target price of $16.83.

Newmark Group, Inc. (NASDAQ:NMRK - Get Free Report)'s share price hit a new 52-week high on Tuesday . The stock traded as high as $16.48 and last traded at $16.14, with a volume of 1379485 shares. The stock had previously closed at $16.24.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wolfe Research upgraded Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 target price on the stock in a report on Friday, May 23rd. Wall Street Zen upgraded Newmark Group from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Keefe, Bruyette & Woods boosted their target price on Newmark Group from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Citizens Jmp assumed coverage on Newmark Group in a report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 target price on the stock. Finally, Piper Sandler boosted their target price on Newmark Group from $16.00 to $19.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Newmark Group presently has a consensus rating of "Buy" and an average target price of $16.83.

Newmark Group Stock Down 0.5%

The company has a debt-to-equity ratio of 0.58, a current ratio of 0.39 and a quick ratio of 0.47. The business has a 50 day simple moving average of $13.28 and a 200 day simple moving average of $12.54. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 41.17 and a beta of 2.04.

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, topping analysts' consensus estimates of $0.26 by $0.05. The business had revenue of $759.10 million for 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 company's revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share. As a group, equities analysts predict that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Thursday, August 14th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, August 14th. Newmark Group's dividend payout ratio is currently 28.57%.

Hedge Funds Weigh In On Newmark Group

Large investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. acquired a new position in Newmark Group in the first quarter valued at $26,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Newmark Group in the first quarter valued at $47,000. Sterling Capital Management LLC boosted its stake in shares of Newmark Group by 813.9% during the fourth 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 during the period. KBC Group NV acquired a new stake in shares of Newmark Group during the first quarter worth about $78,000. Finally, CWM LLC boosted its stake in shares of Newmark Group by 63.8% during the first quarter. CWM LLC now owns 7,693 shares of the company's stock worth $94,000 after buying an additional 2,996 shares during the period. Institutional investors and hedge funds 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.