Newmark Group (NASDAQ:NMRK) Downgraded to “Peer Perform” Rating by Wolfe Research

Wolfe Research lowered shares of Newmark Group (NASDAQ:NMRK) from an outperform rating to a peer perform rating in a report released on Monday, MarketBeat Ratings reports.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th. Piper Sandler upped their target price on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd.

Newmark Group Price Performance

Shares of Newmark Group stock opened at $15.52 on Monday. The firm has a fifty day simple moving average of $15.11 and a 200-day simple moving average of $12.82. 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 has a 1-year low of $7.73 and a 1-year high of $16.10. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 51.73 and a beta of 2.01.

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

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, November 21st. Newmark Group’s payout ratio is currently 40.00%.

Institutional Investors Weigh In On Newmark Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp bought a new stake in Newmark Group in the 2nd quarter valued at $33,000. EntryPoint Capital LLC increased its holdings in Newmark Group by 35.5% in the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock valued at $49,000 after buying an additional 1,159 shares during the period. Assetmark Inc. bought a new stake in Newmark Group in the 3rd quarter valued at $93,000. Black Diamond Financial LLC bought a new stake in Newmark Group in the 2nd quarter valued at $102,000. Finally, Evergreen Capital Management LLC bought a new stake in Newmark Group in the 2nd quarter valued at $107,000. 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.