Zacks Investment Research downgraded shares of Newmark Group (NASDAQ:NMRK) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.
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. “
Shares of NMRK traded up $0.44 during midday trading on Wednesday, reaching $9.65. 940,600 shares of the stock were exchanged, compared to its average volume of 1,107,925. Newmark Group has a 52 week low of $7.02 and a 52 week high of $14.68. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a 50 day moving average price of $8.70. The company has a market capitalization of $1.63 billion, a P/E ratio of 6.35, a P/E/G ratio of 0.68 and a beta of 1.17.
Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Newmark Group had a return on equity of 41.41% and a net margin of 4.86%. The firm had revenue of $447.70 million for the quarter, compared to the consensus estimate of $476.72 million. During the same period in the previous year, the company posted $0.19 EPS. Newmark Group’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts forecast that Newmark Group will post 1.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.10 per share. This is an increase from Newmark Group’s previous quarterly dividend of $0.09. The ex-dividend date was Friday, May 24th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.15%. Newmark Group’s dividend payout ratio is presently 26.32%.
In related news, CEO Barry M. Gosin acquired 561,084 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of $7.71 per share, for a total transaction of $4,325,957.64. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 90.95% of the stock is currently owned by corporate insiders.
About Newmark Group
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 Newmark Knight Frank name.
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