Newmark Group (NASDAQ:NMRK) Price Target Cut to $14.50 by Analysts at Keefe, Bruyette & Woods

Newmark Group (NASDAQ:NMRK - Get Free Report) had its target price cut by research analysts at Keefe, Bruyette & Woods from $18.00 to $14.50 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 43.71% from the stock's current price.

Separately, The Goldman Sachs Group cut their price objective on Newmark Group from $19.50 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th.

Newmark Group Stock Performance

Shares of Newmark Group stock traded down $0.30 during midday trading on Thursday, hitting $10.09. The company had a trading volume of 1,761,492 shares, compared to its average volume of 1,136,295. The company has a fifty day simple moving average of $12.54 and a 200 day simple moving average of $13.66. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 28.83 and a beta of 1.69. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. Newmark Group has a 12-month low of $9.45 and a 12-month high of $16.10.

Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its earnings results on Friday, February 14th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.48 by $0.07. The firm had revenue of $888.30 million for the quarter, compared to analyst estimates of $790.76 million. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. Newmark Group's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. As a group, analysts predict that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newmark Group

Institutional investors have recently modified their holdings of the company. State Street Corp raised its stake in Newmark Group by 7.8% in the third quarter. State Street Corp now owns 3,426,682 shares of the company's stock valued at $53,216,000 after buying an additional 247,433 shares in the last quarter. Jane Street Group LLC raised its stake in Newmark Group by 8.4% during the 3rd quarter. Jane Street Group LLC now owns 140,001 shares of the company's stock valued at $2,174,000 after acquiring an additional 10,796 shares during the last quarter. Barclays PLC grew its position in Newmark Group by 352.8% in the 3rd quarter. Barclays PLC now owns 227,099 shares of the company's stock valued at $3,526,000 after buying an additional 176,947 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Newmark Group by 5.7% in the third quarter. Geode Capital Management LLC now owns 3,554,867 shares of the company's stock valued at $55,216,000 after acquiring an additional 190,974 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of Newmark Group during the third quarter worth about $317,000. 58.42% of the stock is owned by institutional investors and hedge funds.

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.