Newmark Group, Inc. (NASDAQ:NMRK) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Newmark Group, Inc. (NASDAQ:NMRK) have earned a consensus rating of “Buy” from the eight analysts that are covering the stock, reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $17.00.

NMRK has been the topic of several analyst reports. TheStreet raised Newmark Group from a “c” rating to a “b-” rating in a research report on Wednesday, November 3rd. Zacks Investment Research raised Newmark Group from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Thursday, October 14th. Finally, Raymond James upped their price objective on Newmark Group from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, November 8th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Moors & Cabot Inc. acquired a new stake in Newmark Group during the third quarter worth about $45,000. O Shaughnessy Asset Management LLC boosted its position in Newmark Group by 350.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,565 shares of the company’s stock worth $108,000 after purchasing an additional 5,884 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Newmark Group during the 3rd quarter valued at approximately $117,000. Lenox Wealth Advisors LLC acquired a new position in shares of Newmark Group in the 3rd quarter valued at $127,000. Finally, Marshall Wace North America L.P. purchased a new stake in Newmark Group during the second quarter worth $133,000. Institutional investors and hedge funds own 55.14% of the company’s stock.

Shares of NASDAQ NMRK traded down $0.03 during trading hours on Thursday, hitting $17.55. 754,503 shares of the company traded hands, compared to its average volume of 877,797. The company has a market capitalization of $3.73 billion, a PE ratio of 6.07, a price-to-earnings-growth ratio of 1.07 and a beta of 1.76. The company has a quick ratio of 1.03, a current ratio of 0.60 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $14.93. Newmark Group has a 12 month low of $6.56 and a 12 month high of $17.97.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Friday, November 5th. The company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.13. The firm had revenue of $788.13 million for the quarter, compared to the consensus estimate of $679.95 million. Newmark Group had a return on equity of 28.92% and a net margin of 23.68%. The company’s revenue for the quarter was up 80.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. Sell-side analysts forecast that Newmark Group will post 1.5 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Friday, November 19th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date is Thursday, November 18th. Newmark Group’s payout ratio is 1.38%.

About Newmark Group

Newmark Group Inc engages in the provision of commercial real estate services. It offers its services to commercial real estate tenants, investors, owners, occupiers, developers, leasing and corporate advisory, investment sales and real estate finance, consulting, origination and servicing of commercial mortgage loans, valuation, project and development management and property and facility management.

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Analyst Recommendations for Newmark Group (NASDAQ:NMRK)

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