Newmark Group, Inc. (NASDAQ:NMRK) Stock Has Average Price Target of $17.60

Shares of Newmark Group, Inc. (NASDAQ:NMRK) have been assigned a consensus rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $17.60.

A number of equities analysts have weighed in on NMRK shares. Weiss Ratings upgraded shares of Newmark Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 13th. Citizens Jmp reduced their price objective on Newmark Group from $22.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 22nd. UBS Group set a $22.00 target price on Newmark Group in a report on Monday, August 10th. Keefe, Bruyette & Woods dropped their target price on shares of Newmark Group from $17.50 to $16.00 and set an “outperform” rating for the company in a research report on Friday, October 9th. Finally, Wall Street Zen lowered shares of Newmark Group from a “buy” rating to a “hold” rating in a report on Saturday, October 24th.

Institutional Investors Weigh In On Newmark Group

Large investors have recently made changes to their positions in the business. Nykredit A S acquired a new position in Newmark Group in the 2nd quarter worth $41,000. Ancora Advisors LLC purchased a new position in Newmark Group in the 2nd quarter valued at about $45,000. Signaturefd LLC boosted its position in Newmark Group by 87.4% in the 3rd quarter. Signaturefd LLC now owns 5,863 shares of the company’s stock valued at $72,000 after buying an additional 2,735 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Newmark Group by 9,157.7% during the first quarter. Fifth Third Bancorp now owns 8,980 shares of the company’s stock valued at $135,000 after acquiring an additional 8,883 shares in the last quarter. Finally, Ethic Inc. acquired a new stake in shares of Newmark Group during the third quarter valued at about $138,000. Institutional investors and hedge funds own 58.42% of the company’s stock.

Newmark Group Price Performance

NMRK opened at $11.91 on Friday. Newmark Group has a 1 year low of $11.13 and a 1 year high of $18.25. The company’s 50 day simple moving average is $12.91 and its 200 day simple moving average is $14.74. The stock has a market capitalization of $2.16 billion, a PE ratio of 14.35 and a beta of 1.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.55.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01. Newmark Group had a net margin of 4.07% and a return on equity of 27.61%. The firm had revenue of $973.20 million during the quarter, compared to analyst estimates of $957.78 million. During the same quarter in the prior year, the business posted $0.42 earnings per share. Newmark Group’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that Newmark Group will post 1.86 EPS for the current year.

Newmark Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, November 13th. Newmark Group’s payout ratio is currently 28.92%.

About Newmark Group

Newmark Group, Inc is a global commercial real estate services company that provides advisory, transaction, and management services to occupiers, owners, investors, and developers. Its services cover office, industrial, retail, multifamily, hospitality, and other commercial property sectors.

The company assists clients with leasing, investment sales, acquisition and disposition advisory, debt and structured finance, valuation, consulting, and property and facilities management. Newmark also provides corporate real estate services, workplace strategy, capital markets advice, and technology-enabled data and research solutions.

Newmark serves clients through operations in major real estate markets across North America, Europe, Asia-Pacific, and other international regions.