Newmark Group (NASDAQ:NMRK) Given New $17.00 Price Target at The Goldman Sachs Group

Newmark Group (NASDAQ:NMRK) had its price target decreased by equities researchers at The Goldman Sachs Group from $19.50 to $17.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 36.88% from the stock’s current price.

Separately, Wolfe Research cut shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a report on Monday, November 25th.

Newmark Group Price Performance

Shares of NASDAQ:NMRK traded up $0.14 during trading hours on Wednesday, hitting $12.42. 19,552 shares of the company’s stock traded hands, compared to its average volume of 960,717. Newmark Group has a 52 week low of $9.44 and a 52 week high of $16.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. The company’s fifty day simple moving average is $13.56 and its two-hundred day simple moving average is $14.28. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 35.43 and a beta of 1.96.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Friday, February 14th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.07. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company had revenue of $888.30 million during the quarter, compared to analyst estimates of $790.76 million. During the same quarter last year, the firm posted $0.46 EPS. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, equities analysts anticipate that Newmark Group will post 1.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Newmark Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its position in Newmark Group by 0.3% during the fourth quarter. Barclays PLC now owns 227,866 shares of the company’s stock valued at $2,919,000 after acquiring an additional 767 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Newmark Group by 1.3% in the fourth quarter. MetLife Investment Management LLC now owns 79,900 shares of the company’s stock valued at $1,024,000 after purchasing an additional 1,035 shares during the period. Rhumbline Advisers raised its position in shares of Newmark Group by 0.5% in the fourth quarter. Rhumbline Advisers now owns 237,015 shares of the company’s stock valued at $3,036,000 after purchasing an additional 1,201 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Newmark Group by 4.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 32,806 shares of the company’s stock worth $420,000 after acquiring an additional 1,286 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Newmark Group by 2.7% in the fourth quarter. Cetera Investment Advisers now owns 53,635 shares of the company’s stock worth $687,000 after acquiring an additional 1,385 shares during the last quarter. Institutional investors own 58.42% of the company’s stock.

About Newmark Group

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.