Newmark Group (NASDAQ:NMRK) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Zacks Research upgraded Newmark Group (NASDAQ:NMRK) from Hold to Strong-Buy, adding to a generally bullish analyst backdrop for the stock.
• Other firms have also been positive: several raised targets or maintained outperform/overweight ratings, and the consensus rating is Buy with a $19.62 average price target.
• Newmark Group recently reported $0.08 EPS on $846.52 million in revenue, and the stock was trading at $15.39 with a market cap of about $2.73 billion.

Newmark Group (NASDAQ:NMRK - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research firms have also commented on NMRK. Keefe, Bruyette & Woods boosted their price objective on shares of Newmark Group from $18.00 to $18.50 and gave the stock an "outperform" rating in a research report on Friday, May 1st. Weiss Ratings upgraded shares of Newmark Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 11th. Citizens Jmp lifted their target price on shares of Newmark Group from $21.00 to $22.00 and gave the stock a "market outperform" rating in a research report on Friday, May 1st. Piper Sandler reaffirmed an "overweight" rating and issued a $19.00 price target on shares of Newmark Group in a report on Monday, June 29th. Finally, Wall Street Zen lowered shares of Newmark Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $19.62.

Newmark Group Stock Performance

Shares of NMRK stock opened at $15.39 on Thursday. The stock has a fifty day moving average price of $14.97 and a 200 day moving average price of $15.49. The stock has a market cap of $2.73 billion, a PE ratio of 19.00 and a beta of 1.68. Newmark Group has a 1 year low of $13.31 and a 1 year high of $19.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.48 and a current ratio of 0.48.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its earnings results on Friday, May 8th. The company reported $0.08 EPS for the quarter. Newmark Group had a return on equity of 26.23% and a net margin of 4.30%.The company had revenue of $846.52 million for the quarter. Sell-side analysts forecast that Newmark Group will post 1.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Newmark Group

Several institutional investors and hedge funds have recently modified their holdings of NMRK. Focus Partners Wealth raised its position in shares of Newmark Group by 4.6% in the 3rd quarter. Focus Partners Wealth now owns 14,176 shares of the company's stock worth $264,000 after buying an additional 619 shares during the period. Assetmark Inc. grew its position in Newmark Group by 10.6% during the fourth quarter. Assetmark Inc. now owns 8,018 shares of the company's stock valued at $139,000 after acquiring an additional 769 shares during the period. Farther Finance Advisors LLC grew its position in Newmark Group by 42.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,676 shares of the company's stock valued at $46,000 after acquiring an additional 797 shares during the period. Larson Financial Group LLC increased its stake in Newmark Group by 98.9% during the third quarter. Larson Financial Group LLC now owns 1,840 shares of the company's stock worth $34,000 after acquiring an additional 915 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its stake in Newmark Group by 4.9% during the fourth quarter. Bleakley Financial Group LLC now owns 20,723 shares of the company's stock worth $359,000 after acquiring an additional 973 shares during the last quarter. Hedge funds and other institutional investors own 58.42% of the company's stock.

Newmark Group Company Profile

Newmark Group, Inc is a publicly traded commercial real estate advisory firm headquartered in New York City. The company provides a comprehensive suite of services to real estate investors, occupiers and developers, including leasing advisory, property management, capital markets placement, loan servicing, valuation and advisory services. Newmark's platform integrates local market expertise with national reach to support clients across diverse property types such as office, industrial, retail, multifamily and specialty assets.

Operating across two principal segments—global corporate services and capital markets & property-level services—Newmark delivers tailored solutions encompassing tenant representation, landlord leasing, investment sales, debt and equity financing, and appraisal services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.