Newmark Group (NASDAQ:NMRK) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Newmark Group (NASDAQ:NMRK) from a hold rating to a buy rating in a research report released on Saturday.

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

Newmark Group Stock Up 5.5%

Shares of NMRK opened at $11.77 on Friday. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 30.18 and a beta of 1.94. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.50. Newmark Group has a 12 month low of $9.64 and a 12 month high of $16.10. The company has a 50-day moving average price of $11.09 and a two-hundred day moving average price of $12.43.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. Newmark Group had a net margin of 2.39% and a return on equity of 21.85%. The firm had revenue of $665.49 million during the quarter, compared to the consensus estimate of $609.28 million. During the same period last year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. Equities analysts predict that Newmark Group will post 1.45 EPS for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Wednesday, May 14th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, May 14th. Newmark Group’s dividend payout ratio (DPR) is 30.77%.

Institutional Investors Weigh In On Newmark Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. bought a new stake in Newmark Group in the first quarter valued at approximately $26,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Newmark Group in the first quarter valued at approximately $47,000. Sterling Capital Management LLC increased its position in shares of Newmark Group by 813.9% in the 4th 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 bought a new stake in shares of Newmark Group in the 1st quarter valued at $78,000. Finally, CWM LLC increased its position in shares of Newmark Group by 63.8% in the 1st 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 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.