Newmark Group (NASDAQ:NMRK) Receives Hold (C) Rating from Weiss Ratings

Newmark Group (NASDAQ:NMRK)‘s stock had its “hold (c)” rating reissued by investment analysts at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

A number of other equities analysts have also recently issued reports on the stock. Zacks Research cut shares of Newmark Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. JMP Securities upped their price target on shares of Newmark Group from $17.00 to $19.00 and gave the company a “market outperform” rating in a report on Thursday, July 31st. Piper Sandler upped their price target on shares of Newmark Group from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Wall Street Zen raised shares of Newmark Group from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Newmark Group from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Newmark Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.83.

Newmark Group Stock Performance

NASDAQ:NMRK opened at $19.48 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.58. Newmark Group has a fifty-two week low of $9.65 and a fifty-two week high of $19.83. The stock has a market cap of $3.44 billion, a PE ratio of 46.38 and a beta of 2.09. The firm’s fifty day simple moving average is $18.36 and its 200-day simple moving average is $14.34.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Newmark Group had a net margin of 2.51% and a return on equity of 22.73%. The business had revenue of $759.10 million for the quarter, compared to analysts’ expectations of $695.24 million. During the same period in the prior year, the company posted $0.22 EPS. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. Newmark Group has set its FY 2025 guidance at 1.470-1.570 EPS. Analysts expect that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Newmark Group by 5.9% in the 2nd quarter. Geode Capital Management LLC now owns 3,823,432 shares of the company’s stock valued at $46,460,000 after purchasing an additional 213,941 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Newmark Group by 89.7% during the 1st quarter. Millennium Management LLC now owns 3,635,561 shares of the company’s stock worth $44,245,000 after acquiring an additional 1,719,375 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Newmark Group by 88.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,520,314 shares of the company’s stock worth $30,622,000 after acquiring an additional 1,186,191 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Newmark Group by 2.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,481,417 shares of the company’s stock worth $30,199,000 after acquiring an additional 55,628 shares during the period. Finally, Boston Partners lifted its holdings in shares of Newmark Group by 65.2% during the 2nd quarter. Boston Partners now owns 2,212,910 shares of the company’s stock worth $26,899,000 after acquiring an additional 873,180 shares during the period. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

Newmark Group Company Profile

Newmark Group, Inc provides commercial real estate services in the United States, the United Kingdom, and internationally. The company offers capital markets consisting of investment sales and commercial mortgage brokerage; landlord or agency representation leasing; valuation and advisory; property management; commercial real estate technology platform and capabilities; the United Kingdom business rates services; due diligence, consulting, and other advisory services; GSEs and the Federal Housing Administration lending services comprising multifamily lending and loan servicing; asset management; and flexible workspace solutions for owners.