The Goldman Sachs Group Has Lowered Expectations for Newmark Group (NASDAQ:NMRK) Stock Price

Newmark Group (NASDAQ:NMRK) had its price objective lowered by research analysts at The Goldman Sachs Group from $19.50 to $17.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 35.14% from the company’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

NASDAQ NMRK opened at $12.58 on Wednesday. Newmark Group has a 12 month low of $9.44 and a 12 month high of $16.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $2.27 billion, a PE ratio of 35.94 and a beta of 1.96. The company’s 50 day simple moving average is $13.56 and its 200 day simple moving average is $14.25.

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

Hedge Funds Weigh In On Newmark Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in Newmark Group by 0.3% in the 4th quarter. Barclays PLC now owns 227,866 shares of the company’s stock worth $2,919,000 after purchasing an additional 767 shares during the period. MetLife Investment Management LLC boosted its stake in Newmark Group by 1.3% in the 4th quarter. MetLife Investment Management LLC now owns 79,900 shares of the company’s stock worth $1,024,000 after purchasing an additional 1,035 shares during the period. Rhumbline Advisers boosted its stake in Newmark Group by 0.5% in the 4th quarter. Rhumbline Advisers now owns 237,015 shares of the company’s stock worth $3,036,000 after purchasing an additional 1,201 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Newmark Group by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 32,806 shares of the company’s stock worth $420,000 after purchasing an additional 1,286 shares during the period. Finally, Cetera Investment Advisers boosted its stake in Newmark Group by 2.7% in the 4th quarter. Cetera Investment Advisers now owns 53,635 shares of the company’s stock worth $687,000 after purchasing an additional 1,385 shares during the period. Institutional investors and hedge funds 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.