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

Newmark Group, Inc. (NASDAQ:NMRK)’s share price reached a new 52-week low on Wednesday. The stock traded as low as $11.03 and last traded at $11.3780, with a volume of 44,887 shares trading hands. The stock had previously closed at $11.32.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NMRK shares. Barclays increased their target price on shares of Newmark Group from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Zacks Research cut shares of Newmark Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 29th. Weiss Ratings raised shares of Newmark Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 13th. UBS Group set a $22.00 price target on shares of Newmark Group in a research note on Monday, August 10th. Finally, Citizens Jmp cut their price objective on Newmark Group from $22.00 to $17.00 and set a “market outperform” rating for the company in a report on Thursday, October 22nd. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.60.

Newmark Group Price Performance

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

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $973.20 million during the quarter, compared to analysts’ expectations of $957.78 million. Newmark Group had a net margin of 4.07% and a return on equity of 27.43%. Newmark Group’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. As a group, sell-side analysts expect that Newmark Group, Inc. will post 1.86 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.2%. Newmark Group’s payout ratio is currently 28.92%.

Institutional Trading of Newmark Group

Large investors have recently made changes to their positions in the stock. Boston Partners lifted its holdings in Newmark Group by 63.7% in the 3rd quarter. Boston Partners now owns 388,511 shares of the company’s stock worth $4,763,000 after purchasing an additional 151,189 shares during the last quarter. Diversified Trust Co boosted its position in Newmark Group by 2.9% during 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 during the period. Allspring Global Investments Holdings LLC grew its holdings in Newmark Group by 4.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 53,235 shares of the company’s stock valued at $673,000 after purchasing an additional 2,439 shares during the last quarter. Point Nemo Capital LLC acquired a new position in Newmark Group during the third quarter valued at approximately $1,133,000. Finally, Ethic Inc. bought a new position in shares of Newmark Group in the third quarter valued at approximately $138,000. 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.