Newmark Group (NASDAQ:NMRK) Price Target Raised to $19.00 at JMP Securities

Key Points

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Newmark Group (NASDAQ:NMRK - Get Free Report) had its price target raised by research analysts at JMP Securities from $17.00 to $19.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' target price would indicate a potential upside of 23.60% from the company's previous close.

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

Newmark Group Price Performance

NASDAQ:NMRK traded up $0.25 during trading hours on Thursday, reaching $15.37. The stock had a trading volume of 91,144 shares, compared to its average volume of 1,144,500. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.47 and a current ratio of 0.47. Newmark Group has a 52 week low of $9.65 and a 52 week high of $16.10. The company has a 50 day moving average price of $12.20 and a two-hundred day moving average price of $12.33. The stock has a market capitalization of $2.84 billion, a PE ratio of 36.66 and a beta of 2.04.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.05. Newmark Group had a return on equity of 22.71% and a net margin of 2.51%. The business had revenue of $759.10 million for the quarter, compared to the consensus estimate of $695.24 million. During the same quarter in the previous year, the company posted $0.22 EPS. The company's revenue was up 19.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Newmark Group

Large investors have recently bought and sold shares of the business. Financial Management Professionals Inc. purchased a new position in Newmark Group during the 1st quarter valued at $26,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Newmark Group during the 1st quarter valued at $47,000. Sterling Capital Management LLC boosted its holdings in Newmark Group by 813.9% during the 4th quarter. Sterling Capital Management LLC now owns 4,149 shares of the company's stock valued at $53,000 after acquiring an additional 3,695 shares during the period. KBC Group NV purchased a new position in Newmark Group during the 1st quarter valued at $78,000. Finally, CWM LLC boosted its holdings in Newmark Group by 63.8% during the 1st quarter. CWM LLC now owns 7,693 shares of the company's stock valued at $94,000 after acquiring an additional 2,996 shares during the period. Hedge funds and other institutional investors own 58.42% of the company's stock.

Newmark Group Company Profile

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.