Newmark Group (NASDAQ:NMRK) Downgraded to Hold Rating by Wall Street Zen

Newmark Group (NASDAQ:NMRK - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

Several other research firms have also issued reports on NMRK. The Goldman Sachs Group decreased their price target on shares of Newmark Group from $19.50 to $17.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Piper Sandler decreased their price objective on Newmark Group from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Keefe, Bruyette & Woods decreased their price objective on Newmark Group from $14.50 to $14.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Wolfe Research raised Newmark Group from a "peer perform" rating to an "outperform" rating and set a $14.00 price objective on the stock in a report on Friday, May 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $15.25.

Newmark Group Stock Performance

NMRK traded up $0.07 during midday trading on Friday, reaching $11.42. The company's stock had a trading volume of 899,302 shares, compared to its average volume of 1,147,479. The stock has a market cap of $2.11 billion, a P/E ratio of 32.63 and a beta of 1.94. The company has a fifty day simple moving average of $10.97 and a 200 day simple moving average of $12.71. 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 has a twelve month low of $9.64 and a twelve month high of $16.10.

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

Institutional Trading of Newmark Group

Institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. acquired a new stake in Newmark Group in the 1st quarter valued at $26,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Newmark Group in the first quarter valued at about $47,000. Sterling Capital Management LLC boosted its position in Newmark Group by 813.9% in the fourth quarter. Sterling Capital Management LLC now owns 4,149 shares of the company's stock valued at $53,000 after buying an additional 3,695 shares in the last quarter. KBC Group NV acquired a new position in Newmark Group in the first quarter valued at about $78,000. Finally, CWM LLC boosted its position in Newmark Group by 63.8% in the first quarter. CWM LLC now owns 7,693 shares of the company's stock valued at $94,000 after buying an additional 2,996 shares in the last quarter. Institutional investors and hedge funds 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.