Newmark Group (NASDAQ:NMRK) – Investment analysts at Wedbush boosted their Q3 2018 earnings estimates for shares of Newmark Group in a research report issued to clients and investors on Friday, May 4th. Wedbush analyst J. Weaver now forecasts that the company will post earnings of $0.46 per share for the quarter, up from their previous forecast of $0.43. Wedbush has a “Outperform” rating and a $20.00 price objective on the stock. Wedbush also issued estimates for Newmark Group’s Q1 2019 earnings at $0.34 EPS, Q2 2019 earnings at $0.38 EPS and Q3 2019 earnings at $0.79 EPS.
NMRK has been the subject of a number of other reports. Sandler O’Neill began coverage on Newmark Group in a research report on Tuesday, January 9th. They issued a “buy” rating and a $18.50 price target for the company. Goldman Sachs began coverage on Newmark Group in a research report on Tuesday, January 9th. They issued a “buy” rating and a $24.00 price target for the company. Zacks Investment Research raised Newmark Group from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Wednesday, April 4th. Raymond James began coverage on Newmark Group in a research report on Tuesday, February 6th. They issued an “outperform” rating and a $21.00 price target for the company. Finally, Keefe, Bruyette & Woods began coverage on Newmark Group in a research report on Tuesday, January 9th. They issued a “market perform” rating and a $17.00 price target for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Newmark Group presently has a consensus rating of “Buy” and an average target price of $19.64.
NASDAQ NMRK opened at $14.47 on Monday. The firm has a market capitalization of $2.22 billion and a P/E ratio of 12.58. Newmark Group has a 12 month low of $13.72 and a 12 month high of $16.98. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.43.
Newmark Group (NASDAQ:NMRK) last issued its earnings results on Thursday, May 3rd. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $430.46 million during the quarter, compared to the consensus estimate of $387.75 million.
The firm also recently disclosed a special dividend, which will be paid on Tuesday, June 5th. Shareholders of record on Monday, May 21st will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, May 18th.
A number of large investors have recently made changes to their positions in the business. Neuberger Berman Group LLC grew its stake in Newmark Group by 10.5% in the 1st quarter. Neuberger Berman Group LLC now owns 552,615 shares of the company’s stock valued at $8,394,000 after purchasing an additional 52,615 shares during the period. American International Group Inc. bought a new position in Newmark Group in the 1st quarter valued at $226,000. Engineers Gate Manager LP bought a new position in Newmark Group in the 1st quarter valued at $727,000. Schwab Charles Investment Management Inc. bought a new position in Newmark Group in the 1st quarter valued at $6,306,000. Finally, River Road Asset Management LLC bought a new position in Newmark Group in the 1st quarter valued at $5,367,000. Hedge funds and other institutional investors own 12.65% of the company’s stock.
Newmark Group Company Profile
Newmark Group, Inc provides commercial real estate services in the United States and internationally. Its investor/owner services and products include capital markets, such as investment sales; and agency leasing, property management, valuation and advisory, and diligence and underwriting, as well as government sponsored enterprise lending, loan servicing, debt and structured finance, and loan sales under the Berkeley Point and NKF Capital Markets names.
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