Newmark Group (NMRK) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Newmark Group (NASDAQ:NMRK) from a hold rating to a buy rating in a research report released on Wednesday. They currently have $17.00 price target on the stock.

According to Zacks, “Newmark Group, Inc. operates as a commercial real estate advisory firm. The Company offers services and products which includes investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory and loan servicing. Newmark Group, Inc. is based in New York, United States. “

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NMRK has been the subject of several other research reports. Sandler O’Neill started coverage on Newmark Group in a report on Tuesday, January 9th. They set a buy rating and a $18.50 price objective for the company. Bank of America started coverage on Newmark Group in a report on Tuesday, January 9th. They set a buy rating and a $20.00 price objective for the company. Wedbush started coverage on Newmark Group in a report on Tuesday, January 9th. They set an outperform rating and a $20.00 price objective for the company. Raymond James Financial started coverage on Newmark Group in a report on Tuesday, February 6th. They set an outperform rating and a $21.00 price objective for the company. Finally, Goldman Sachs started coverage on Newmark Group in a report on Tuesday, January 9th. They set a buy rating and a $24.00 price objective for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $19.64.

Shares of NASDAQ NMRK opened at $15.16 on Wednesday. Newmark Group has a 12 month low of $13.72 and a 12 month high of $16.98. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.43.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Friday, February 9th. The company reported $0.30 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $460.60 million for the quarter, compared to analysts’ expectations of $428.10 million. During the same period in the previous year, the firm posted $0.31 EPS. equities research analysts expect that Newmark Group will post 1.49 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Cardinal Capital Management LLC CT bought a new stake in Newmark Group in the 4th quarter worth approximately $25,982,000. Zimmer Partners LP bought a new stake in Newmark Group in the 4th quarter worth approximately $25,440,000. The Manufacturers Life Insurance Company bought a new stake in Newmark Group in the 4th quarter worth approximately $20,723,000. Gratia Capital LLC bought a new stake in Newmark Group in the 4th quarter worth approximately $20,652,000. Finally, Long Pond Capital LP bought a new stake in Newmark Group in the 4th quarter worth approximately $15,900,000. Institutional investors own 12.76% of the company’s stock.

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About Newmark Group

Newmark Group, Inc is a commercial real estate services company. The Company is focused on offering products and services to both owners and occupiers across the entire commercial real estate industry. Its investor/owner services and products include capital markets, which consists of investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory, diligence and underwriting and government-sponsored enterprise lending and loan servicing.

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