Newmark Group (NASDAQ:NMRK) Given New $14.50 Price Target at Keefe, Bruyette & Woods

Newmark Group (NASDAQ:NMRK) had its price target reduced by Keefe, Bruyette & Woods from $18.00 to $14.50 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Separately, The Goldman Sachs Group lowered their price objective on Newmark Group from $19.50 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th.

Newmark Group Stock Up 0.3 %

NASDAQ NMRK opened at $10.39 on Thursday. Newmark Group has a 52 week low of $9.44 and a 52 week high of $16.10. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $1.88 billion, a P/E ratio of 29.69 and a beta of 1.69. The stock’s 50-day moving average price is $12.61 and its 200-day moving average price is $13.73.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results 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. The business had revenue of $888.30 million for the quarter, compared to the consensus estimate of $790.76 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. On average, equities research analysts predict that Newmark Group will post 1.45 earnings per share for the current year.

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.12 annualized dividend and a yield of 1.15%. Newmark Group’s payout ratio is 34.29%.

Institutional Trading of Newmark Group

Several hedge funds have recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new stake in shares of Newmark Group in the first quarter worth about $26,000. Sterling Capital Management LLC grew its holdings in Newmark Group by 813.9% during the 4th quarter. Sterling Capital Management LLC now owns 4,149 shares of the company’s stock valued at $53,000 after buying an additional 3,695 shares in the last quarter. Assetmark Inc. increased its stake in Newmark Group by 43.5% in the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company’s stock worth $110,000 after acquiring an additional 2,602 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Newmark Group by 48.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,378 shares of the company’s stock worth $120,000 after acquiring an additional 3,070 shares during the last quarter. Finally, Optimize Financial Inc purchased a new stake in shares of Newmark Group during the 4th quarter worth approximately $132,000. Hedge funds and other institutional investors own 58.42% of the company’s stock.

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.