Shares of Newmark Group Inc (NASDAQ:NMRK) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $18.50.
Several brokerages recently weighed in on NMRK. Zacks Investment Research raised shares of Newmark Group from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Thursday, August 16th. Raymond James reduced their price target on shares of Newmark Group from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, September 27th. Finally, Sandler O’Neill raised shares of Newmark Group from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Friday, October 12th.
Several institutional investors and hedge funds have recently made changes to their positions in NMRK. Trexquant Investment LP grew its position in Newmark Group by 24.6% in the 3rd quarter. Trexquant Investment LP now owns 27,000 shares of the company’s stock worth $302,000 after purchasing an additional 5,339 shares during the period. Alliancebernstein L.P. grew its position in Newmark Group by 37.5% in the 3rd quarter. Alliancebernstein L.P. now owns 24,200 shares of the company’s stock worth $271,000 after purchasing an additional 6,600 shares during the period. JPMorgan Chase & Co. grew its position in Newmark Group by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,490 shares of the company’s stock worth $128,000 after purchasing an additional 6,860 shares during the period. First Republic Investment Management Inc. grew its position in Newmark Group by 54.1% in the 2nd quarter. First Republic Investment Management Inc. now owns 21,569 shares of the company’s stock worth $307,000 after purchasing an additional 7,569 shares during the period. Finally, United Services Automobile Association grew its position in Newmark Group by 5.8% in the 3rd quarter. United Services Automobile Association now owns 158,722 shares of the company’s stock worth $1,776,000 after purchasing an additional 8,702 shares during the period. 13.17% of the stock is owned by institutional investors.
Shares of NMRK stock traded down $0.26 during trading hours on Monday, hitting $8.34. 3,714,958 shares of the company’s stock traded hands, compared to its average volume of 1,922,451. Newmark Group has a 12-month low of $8.01 and a 12-month high of $16.98. The firm has a market capitalization of $1.33 billion and a price-to-earnings ratio of 7.25. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.42 and a current ratio of 0.42.
Newmark Group (NASDAQ:NMRK) last released its earnings results on Thursday, October 25th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.01). Newmark Group had a net margin of 2.28% and a return on equity of 54.81%. The business had revenue of $518.81 million for the quarter, compared to analysts’ expectations of $510.60 million. As a group, sell-side analysts forecast that Newmark Group will post 1.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 28th. Investors of record on Wednesday, November 7th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Tuesday, November 6th. Newmark Group’s dividend payout ratio (DPR) is currently 31.30%.
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 Berkeley Point and NKF Capital Markets names.
See Also: Return on Investment (ROI)
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