Newmark Group (NASDAQ:NMRK) Stock Price Expected to Rise, JMP Securities Analyst Says

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Newmark Group (NASDAQ:NMRK - Get Free Report) had its price objective lifted by equities research analysts at JMP Securities from $17.00 to $19.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' target price indicates a potential upside of 25.41% from the company's current price.

A number of other brokerages have also issued reports on NMRK. Piper Sandler cut their target price on Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Citizens Jmp began coverage on Newmark Group in a research report on Monday, July 21st. They set a "strong-buy" rating and a $17.00 price objective on the stock. Wall Street Zen raised Newmark Group from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Wolfe Research upgraded 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 note on Friday, May 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Newmark Group from $14.00 to $15.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $16.33.

Newmark Group Price Performance

NMRK stock traded up $0.25 during trading on Thursday, hitting $15.15. The stock had a trading volume of 378,926 shares, compared to its average volume of 1,131,318. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.47 and a quick ratio of 0.47. Newmark Group has a twelve month low of $9.65 and a twelve month high of $16.10. The stock has a market capitalization of $2.80 billion, a P/E ratio of 38.87 and a beta of 1.93. The company's 50-day moving average price is $12.01 and its two-hundred day moving average price is $12.30.

Newmark Group (NASDAQ:NMRK - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. Newmark Group had a return on equity of 21.85% and a net margin of 2.39%. The business had revenue of $759.10 million for the quarter, compared to analysts' expectations of $695.24 million. During the same period in the previous year, the firm posted $0.22 EPS. The business's revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, research analysts predict that Newmark Group will post 1.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Newmark Group

Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in shares of Newmark Group by 2.5% in the 4th quarter. Sei Investments Co. now owns 120,691 shares of the company's stock worth $1,546,000 after purchasing an additional 2,976 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Newmark Group during the 4th quarter valued at about $382,000. LPL Financial LLC bought a new stake in shares of Newmark Group during the 4th quarter valued at about $184,000. Vanguard Group Inc. grew its position in shares of Newmark Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company's stock valued at $270,479,000 after buying an additional 83,094 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Newmark Group by 13.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,388,913 shares of the company's stock worth $17,792,000 after acquiring an additional 165,106 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.