Newmark Group (NASDAQ:NMRK - Free Report) had its price objective decreased by The Goldman Sachs Group from $19.50 to $17.00 in a report issued on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.
Separately, Wolfe Research lowered shares of Newmark Group from an "outperform" rating to a "peer perform" rating in a research report on Monday, November 25th.
Check Out Our Latest Research Report on Newmark Group
Newmark Group Stock Down 1.2 %
Shares of NMRK stock traded down $0.15 during trading on Wednesday, hitting $12.43. 1,607,972 shares of the company were exchanged, compared to its average volume of 1,071,092. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 35.52 and a beta of 1.96. The business's 50-day simple moving average is $13.57 and its 200 day simple moving average is $14.25. Newmark Group has a twelve month low of $9.44 and a twelve month high of $16.10.
Newmark Group (NASDAQ:NMRK - Get Free Report) last posted its quarterly 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 business had revenue of $888.30 million during the quarter, compared to analysts' expectations of $790.76 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share. As a group, analysts forecast that Newmark Group will post 1.45 EPS for the current fiscal year.
Newmark Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.97%. The ex-dividend date was Monday, March 3rd. Newmark Group's payout ratio is presently 34.29%.
Hedge Funds Weigh In On Newmark Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in Newmark Group by 5.7% during 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. Algert Global LLC raised its position in shares of Newmark Group by 64.3% in the third quarter. Algert Global LLC now owns 238,138 shares of the company's stock valued at $3,698,000 after purchasing an additional 93,160 shares during the period. JPMorgan Chase & Co. raised its position in shares of Newmark Group by 13.3% in the third quarter. JPMorgan Chase & Co. now owns 1,223,807 shares of the company's stock valued at $19,006,000 after purchasing an additional 143,251 shares during the period. Barclays PLC raised its position in shares of Newmark Group by 352.8% in the third quarter. Barclays PLC now owns 227,099 shares of the company's stock valued at $3,526,000 after purchasing an additional 176,947 shares during the period. Finally, Captrust Financial Advisors bought a new position in shares of Newmark Group in the third quarter valued at approximately $835,000. Institutional investors own 58.42% of the company's stock.
About Newmark Group
(
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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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