Zacks Research Downgrades Newmark Group (NASDAQ:NMRK) to Hold

Key Points

• Newmark Group has been dropped from a "strong-buy" rating to a "hold" rating by Zacks Research, reflecting a more cautious outlook on the stock's performance.
• The company reported earnings per share of $0.31 for the last quarter, exceeding expectations and marking a significant revenue increase of 19.9% year-over-year.
• Institutional investors own approximately 58.42% of Newmark Group's stock, indicating strong backing from larger investment firms despite the recent downgrade.

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

A number of other equities research analysts have also recently weighed in on the company. Citizens Jmp began coverage on Newmark Group in a research note on Monday, July 21st. They issued a "strong-buy" rating and a $17.00 price objective for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Newmark Group in a research note on Saturday, September 27th. Piper Sandler boosted their price objective on Newmark Group from $16.00 to $19.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Keefe, Bruyette & Woods boosted their price objective on Newmark Group from $14.00 to $15.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, JMP Securities boosted their price objective on Newmark Group from $17.00 to $19.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Newmark Group currently has a consensus rating of "Moderate Buy" and an average target price of $16.83.

Newmark Group Price Performance

NMRK stock opened at $18.18 on Thursday. The business has a 50 day moving average price of $17.69 and a 200 day moving average price of $13.68. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 43.29 and a beta of 2.09. Newmark Group has a fifty-two week low of $9.65 and a fifty-two week high of $19.78. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.58.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. Newmark Group had a return on equity of 22.73% and a net margin of 2.51%.The firm had revenue of $759.10 million during the quarter, compared to analysts' expectations of $695.24 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The firm's revenue was up 19.9% compared to the same quarter last year. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. Equities research analysts anticipate that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NMRK. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Newmark Group in the first quarter valued at approximately $47,000. KBC Group NV acquired a new position in Newmark Group during the first quarter worth $78,000. CWM LLC grew its holdings in Newmark Group by 63.8% during the first quarter. CWM LLC now owns 7,693 shares of the company's stock worth $94,000 after acquiring an additional 2,996 shares during the period. Xponance Inc. acquired a new position in Newmark Group during the first quarter worth $122,000. Finally, Berry Wealth Group LP acquired a new position in Newmark Group during the first quarter worth $127,000. 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.

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