Newmark Group (NASDAQ:NMRK) Hits New 1-Year Low - Should You Sell?

Key Points

• Newmark Group hit a 52-week low, trading as low as $11.03 and last at $11.38.
• Analysts lowered some price targets, though ratings remain mixed; the consensus is Hold with a $17.60 target price.
• Recent quarterly results slightly beat estimates: EPS was $0.48 versus $0.47 expected, and revenue rose 12.7% year over year. The company also announced a $0.06 quarterly dividend.

Newmark Group, Inc. (NASDAQ:NMRK - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $11.03 and last traded at $11.3780, with a volume of 44,887 shares. The stock had previously closed at $11.32.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NMRK shares. Citizens Jmp cut their price target on shares of Newmark Group from $22.00 to $17.00 and set a "market outperform" rating for the company in a report on Thursday, October 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Newmark Group from $17.50 to $16.00 and set an "outperform" rating on the stock in a research note on Friday, October 9th. Barclays boosted their target price on shares of Newmark Group from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Monday, August 17th. Zacks Research downgraded shares of Newmark Group from a "hold" rating to a "strong sell" rating in a report on Thursday, October 29th. Finally, Citigroup reissued a "market outperform" rating on shares of Newmark Group in a research note on Thursday, October 22nd. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Newmark Group presently has a consensus rating of "Hold" and a consensus price target of $17.60.

Newmark Group Stock Down 1.5%

The business's 50 day simple moving average is $12.76 and its 200 day simple moving average is $14.68. The company has a market capitalization of $2.02 billion, a PE ratio of 13.43 and a beta of 1.80. The company has a quick ratio of 0.55, a current ratio of 0.46 and a debt-to-equity ratio of 0.50.

Newmark Group (NASDAQ:NMRK - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The business had revenue of $973.20 million for the quarter, compared to the consensus estimate of $957.78 million. Newmark Group had a net margin of 4.07% and a return on equity of 27.43%. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. As a group, analysts forecast that Newmark Group, Inc. will post 1.86 EPS for the current year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be issued a $0.06 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.2%. Newmark Group's dividend payout ratio is presently 28.92%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Arizona State Retirement System raised its position in Newmark Group by 2.8% during the second quarter. Arizona State Retirement System now owns 42,768 shares of the company's stock valued at $646,000 after buying an additional 1,161 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Newmark Group by 9.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,724 shares of the company's stock valued at $251,000 after purchasing an additional 1,471 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of Newmark Group by 6.6% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 39,000 shares of the company's stock valued at $478,000 after purchasing an additional 2,400 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Newmark Group by 4.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 53,235 shares of the company's stock worth $673,000 after purchasing an additional 2,439 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of Newmark Group by 2.9% in the third quarter. Diversified Trust Co now owns 89,573 shares of the company's stock worth $1,098,000 after purchasing an additional 2,539 shares in 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 commercial real estate services and advisory firm serving property owners, occupiers, investors and developers. Its services include commercial leasing, investment sales, debt and structured finance, property and facilities management, valuation, consulting, project management and workplace strategy. The company works across major property types, including office, industrial, retail, multifamily and hospitality. It serves clients throughout the United States and in international markets through its global offices and network.

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