Newmark Group (NASDAQ:NMRK) Sets New 1-Year High - Still a Buy?

Key Points

• Newmark Group's stock has reached a new 52-week high of $18.39, closing at $18.28 with a trading volume of over 1.7 million shares.
• Analysts are optimistic, with a consensus target price of $16.83 and multiple firms giving an "outperform" rating; earnings exceeded expectations, reporting $0.31 EPS versus a consensus of $0.26.
• The company announced a quarterly dividend of $0.03, representing an annual dividend yield of 0.7%, with a payout ratio of 28.57%.

Newmark Group, Inc. (NASDAQ:NMRK - Get Free Report)'s share price hit a new 52-week high on Monday . The stock traded as high as $18.39 and last traded at $18.28, with a volume of 1760196 shares trading hands. The stock had previously closed at $17.16.

Wall Street Analysts Forecast Growth

NMRK has been the subject of a number of recent research reports. Wolfe Research raised shares of Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective for the company in a research report on Friday, May 23rd. Piper Sandler boosted their price objective on shares of Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. 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. 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. Finally, Citizens Jmp initiated coverage on shares of Newmark Group in a research report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $16.83.

Newmark Group Trading Up 0.9%

The business's 50 day moving average price is $13.86 and its two-hundred day moving average price is $12.64. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 43.63 and a beta of 2.04. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.39 and a current ratio of 0.39.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its quarterly earnings results 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. Newmark Group had a net margin of 2.51% and a return on equity of 22.73%. The company had revenue of $759.10 million during the quarter, compared to analyst estimates of $695.24 million. During the same period in the prior year, the business posted $0.22 EPS. The business's revenue for the quarter was up 19.9% compared to the same quarter last year. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. Equities analysts forecast that Newmark Group, Inc. will post 1.45 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Thursday, August 14th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 14th. Newmark Group's payout ratio is presently 28.57%.

Institutional Trading of Newmark Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. OneDigital Investment Advisors LLC raised its holdings in shares of Newmark Group by 10.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 11,878 shares of the company's stock worth $145,000 after purchasing an additional 1,121 shares in the last quarter. KBC Group NV bought a new stake in shares of Newmark Group in the 1st quarter worth approximately $78,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Newmark Group by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 62,072 shares of the company's stock valued at $752,000 after acquiring an additional 21,773 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Newmark Group by 2.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,900 shares of the company's stock valued at $959,000 after acquiring an additional 1,653 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Newmark Group during the first quarter valued at approximately $916,000. 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.

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