Newmark Group (NASDAQ:NMRK) Reaches New 12-Month High - Time to Buy?

Key Points

• Newmark Group shares reached a new 52-week high of $16.10, closing at $15.90, with a trading volume of 173,208 shares.
• Multiple analysts have raised their price targets for Newmark Group, with a consensus target of $16.83 and a consensus rating of "Buy."
• The company reported earnings of $0.31 per share for the last quarter, surpassing estimates, alongside a revenue of $759.1 million, reflecting a 19.9% year-over-year growth.

Newmark Group, Inc. (NASDAQ:NMRK - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.10 and last traded at $15.90, with a volume of 173208 shares trading hands. The stock had previously closed at $15.97.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Piper Sandler upped their price target on shares of Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. JMP Securities boosted their price objective on shares of Newmark Group from $17.00 to $19.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods boosted their price objective on shares of Newmark Group from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of Newmark Group from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Citizens Jmp initiated coverage on shares of Newmark Group in a report on Monday, July 21st. They issued a "strong-buy" rating and a $17.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $16.83.

Newmark Group Trading Up 2.3%

The company has a debt-to-equity ratio of 0.50, a current ratio of 0.47 and a quick ratio of 0.47. The stock's fifty day moving average price is $12.70 and its 200 day moving average price is $12.41. The stock has a market capitalization of $3.00 billion, a P/E ratio of 38.67 and a beta of 2.04.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. Newmark Group had a net margin of 2.51% and a return on equity of 22.71%. The company had revenue of $759.10 million for the quarter, compared to analysts' expectations of $695.24 million. During the same period in the prior year, the business earned $0.22 EPS. The firm's quarterly revenue was up 19.9% on a year-over-year basis. Research analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.03 per share. 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 presently 28.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NMRK. Nuveen LLC bought a new position in Newmark Group during the 1st quarter worth about $21,497,000. Millennium Management LLC lifted its position in shares of 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 buying an additional 1,719,375 shares during the last quarter. Boston Partners lifted its position in shares of 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 buying an additional 1,146,544 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Newmark Group by 851.7% during the fourth quarter. Wells Fargo & Company MN now owns 848,475 shares of the company's stock valued at $10,869,000 after buying an additional 759,324 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Newmark Group during the fourth quarter valued at about $5,277,000. 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.