Zacks Investment Research upgraded shares of Newmark Group (NASDAQ:NMRK) from a hold rating to a buy rating in a research note published on Wednesday. The brokerage currently has $17.00 target price 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. “
NMRK has been the topic of a number of other reports. Sandler O’Neill cut shares of Newmark Group from a buy rating to a hold rating in a research note on Friday, May 4th. ValuEngine cut shares of Newmark Group from a buy rating to a hold rating in a research note on Wednesday, May 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $19.64.
Shares of Newmark Group opened at $15.12 on Wednesday, according to MarketBeat Ratings. The stock has a market capitalization of $2.33 billion and a P/E ratio of 13.15. Newmark Group has a 52 week low of $13.12 and a 52 week high of $16.98. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.34 and a current ratio of 0.34.
Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Thursday, May 3rd. The company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The company had revenue of $430.46 million for the quarter, compared to analysts’ expectations of $387.75 million. equities research analysts expect that Newmark Group will post 1.53 earnings per share for the current year.
The company also recently declared a special dividend, which was paid on Tuesday, June 5th. Shareholders of record on Monday, May 21st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, May 18th. Newmark Group’s dividend payout ratio is currently 31.30%.
Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Newmark Group during the 1st quarter worth about $44,699,000. Cardinal Capital Management LLC CT acquired a new stake in shares of Newmark Group during the 4th quarter worth about $25,982,000. Zimmer Partners LP acquired a new stake in shares of Newmark Group during the 4th quarter worth about $25,440,000. Gratia Capital LLC boosted its stake in shares of Newmark Group by 20.7% during the 1st quarter. Gratia Capital LLC now owns 1,567,943 shares of the company’s stock worth $23,817,000 after purchasing an additional 269,064 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Newmark Group during the 4th quarter worth about $20,723,000. 15.14% of the stock is currently owned by institutional investors.
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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