Piper Sandler Lowers Newmark Group (NASDAQ:NMRK) Price Target to $16.00

Newmark Group (NASDAQ:NMRK - Get Free Report) had its price objective reduced by equities research analysts at Piper Sandler from $19.00 to $16.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price target would suggest a potential upside of 43.38% from the stock's current price.

Several other brokerages also recently weighed in on NMRK. Keefe, Bruyette & Woods reduced their price target on Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a report on Friday. The Goldman Sachs Group decreased their price objective on Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a report on Wednesday, March 19th.

Newmark Group Price Performance

Shares of NMRK traded up $0.03 during trading hours on Monday, reaching $11.16. 281,200 shares of the company's stock traded hands, compared to its average volume of 1,146,967. The firm's 50 day simple moving average is $11.86 and its 200-day simple moving average is $13.39. The stock has a market cap of $2.01 billion, a PE ratio of 31.84 and a beta of 1.99. Newmark Group has a 12 month low of $9.64 and a 12 month high of $16.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company had revenue of $665.49 million during the quarter, compared to the consensus estimate of $609.28 million. During the same period in the prior year, the firm earned $0.15 earnings per share. Newmark Group's revenue was up 21.8% on a year-over-year basis. Equities analysts expect that Newmark Group will post 1.45 EPS for the current year.

Institutional Investors Weigh In On Newmark Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC raised its holdings in shares of Newmark Group by 0.3% during the 4th quarter. Barclays PLC now owns 227,866 shares of the company's stock valued at $2,919,000 after buying an additional 767 shares during the period. MetLife Investment Management LLC boosted its stake in Newmark Group by 1.3% during the fourth quarter. MetLife Investment Management LLC now owns 79,900 shares of the company's stock valued at $1,024,000 after buying an additional 1,035 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of Newmark Group by 10.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 11,878 shares of the company's stock worth $145,000 after acquiring an additional 1,121 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Newmark Group by 0.5% in the 4th quarter. Rhumbline Advisers now owns 237,015 shares of the company's stock valued at $3,036,000 after acquiring an additional 1,201 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Newmark Group by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 32,806 shares of the company's stock valued at $420,000 after purchasing an additional 1,286 shares during the period. Hedge funds and other institutional investors 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.

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