Newmark Group (NASDAQ:NMRK) Earns Buy Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Newmark Group (NASDAQ:NMRK) in a report issued on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $19.00 price target on the stock.

Several other analysts have also recently issued reports on NMRK. Piper Sandler upped their target price on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Wolfe Research cut Newmark Group from an “outperform” rating to a “peer perform” rating in a report on Monday, November 25th. Finally, Keefe, Bruyette & Woods upgraded Newmark Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $13.50 to $16.50 in a report on Thursday, September 5th.

Newmark Group Trading Up 2.3 %

Shares of NASDAQ:NMRK opened at $15.77 on Friday. Newmark Group has a 12-month low of $8.28 and a 12-month high of $16.10. The company has a market capitalization of $2.70 billion, a PE ratio of 52.57 and a beta of 1.96. The business has a 50 day moving average of $15.14 and a two-hundred day moving average of $13.16. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $685.90 million during the quarter, compared to analysts’ expectations of $682.07 million. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 earnings per share. As a group, analysts forecast that Newmark Group will post 1.15 EPS for the current year.

Newmark Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Thursday, November 21st. Newmark Group’s payout ratio is presently 40.00%.

Hedge Funds Weigh In On Newmark Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp purchased a new position in shares of Newmark Group in the 2nd quarter valued at about $33,000. Assetmark Inc. purchased a new position in shares of Newmark Group in the 3rd quarter valued at about $93,000. SG Americas Securities LLC purchased a new position in shares of Newmark Group in the 3rd quarter valued at about $112,000. Blue Trust Inc. boosted its stake in shares of Newmark Group by 408.2% in the 3rd quarter. Blue Trust Inc. now owns 9,401 shares of the company’s stock valued at $146,000 after buying an additional 7,551 shares during the period. Finally, Black Diamond Financial LLC purchased a new position in shares of Newmark Group in the 2nd quarter valued at about $102,000. Hedge funds and other 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.