Newmark Group (NASDAQ:NMRK) Price Target Lowered to $17.00 at The Goldman Sachs Group

Newmark Group (NASDAQ:NMRK) had its target price reduced by The Goldman Sachs Group from $19.50 to $17.00 in a research report released on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Separately, Wolfe Research downgraded Newmark Group from an “outperform” rating to a “peer perform” rating in a research note on Monday, November 25th.

Newmark Group Price Performance

Shares of NASDAQ:NMRK opened at $12.43 on Wednesday. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 35.52 and a beta of 1.96. The firm has a fifty day moving average price of $13.57 and a 200 day moving average price of $14.24. Newmark Group has a fifty-two week low of $9.44 and a fifty-two 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.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Friday, February 14th. The company reported $0.55 EPS 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 business had revenue of $888.30 million during the quarter, compared to the consensus estimate of $790.76 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The business’s revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts expect that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Monday, March 3rd. Newmark Group’s dividend payout ratio is 34.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its position in shares of Newmark Group by 0.3% during the 4th quarter. Barclays PLC now owns 227,866 shares of the company’s stock valued at $2,919,000 after purchasing an additional 767 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Newmark Group by 1.3% during the 4th quarter. MetLife Investment Management LLC now owns 79,900 shares of the company’s stock worth $1,024,000 after buying an additional 1,035 shares in the last quarter. Rhumbline Advisers increased its position in Newmark Group by 0.5% during the 4th 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 increased its holdings in Newmark Group by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 32,806 shares of the company’s stock valued at $420,000 after buying an additional 1,286 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of 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 acquiring an additional 1,385 shares in the last quarter. 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.