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

Wall Street Zen cut shares of Newmark Group (NASDAQ:NMRK) from a buy rating to a hold rating in a report released on Friday morning.

A number of other equities research analysts also recently weighed in on the stock. Wolfe Research raised shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $14.00 price target for the company in a report on Friday, May 23rd. Keefe, Bruyette & Woods cut their price target on shares of Newmark Group from $14.50 to $14.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Piper Sandler cut their price target on shares of Newmark Group from $19.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Finally, The Goldman Sachs Group cut their price objective on Newmark Group from $19.50 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Newmark Group presently has a consensus rating of “Moderate Buy” and an average price target of $15.25.

Newmark Group Price Performance

Shares of NASDAQ NMRK opened at $11.35 on Friday. Newmark Group has a twelve month low of $9.64 and a twelve 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. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 32.43 and a beta of 1.94. The firm has a 50-day moving average of $10.98 and a two-hundred day moving average of $12.76.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share for the quarter, beating 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 company earned $0.15 EPS. Newmark Group’s revenue was up 21.8% on a year-over-year basis. As a group, analysts expect that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.03 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.12 annualized dividend and a yield of 1.06%. Newmark Group’s payout ratio is presently 30.77%.

Institutional Trading of Newmark Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC raised its holdings in Newmark Group by 0.3% during the 4th quarter. Barclays PLC now owns 227,866 shares of the company’s stock worth $2,919,000 after buying an additional 767 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Newmark Group by 1.3% in the 4th quarter. MetLife Investment Management LLC now owns 79,900 shares of the company’s stock valued at $1,024,000 after purchasing an additional 1,035 shares during the period. OneDigital Investment Advisors LLC increased its holdings in shares of Newmark Group by 10.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 11,878 shares of the company’s stock valued at $145,000 after purchasing an additional 1,121 shares during the period. Rhumbline Advisers increased its holdings 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 purchasing an additional 1,201 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Newmark Group by 9.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,396 shares of the company’s stock valued at $175,000 after purchasing an additional 1,250 shares during the period. 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.