Newmark Group Inc (NMRK) Receives $19.64 Average PT from Brokerages

Newmark Group Inc (NASDAQ:NMRK) has received an average rating of “Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.08.

NMRK has been the subject of a number of recent research reports. Wedbush initiated coverage on Newmark Group in a research note on Tuesday, January 9th. They set an “outperform” rating and a $20.00 price objective for the company. Sandler O’Neill initiated coverage on Newmark Group in a research note on Tuesday, January 9th. They set a “buy” rating and a $18.50 price objective for the company. Bank of America initiated coverage on Newmark Group in a research note on Tuesday, January 9th. They set a “buy” rating and a $20.00 price objective for the company. Goldman Sachs initiated coverage on Newmark Group in a research note on Tuesday, January 9th. They set a “buy” rating and a $24.00 price objective for the company. Finally, Keefe, Bruyette & Woods initiated coverage on Newmark Group in a research note on Tuesday, January 9th. They set a “market perform” rating and a $17.00 price objective for the company.

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Several large investors have recently made changes to their positions in NMRK. Cardinal Capital Management LLC CT bought a new position in Newmark Group in the 4th quarter worth approximately $25,982,000. The Manufacturers Life Insurance Company bought a new position in Newmark Group in the 4th quarter worth approximately $20,723,000. Long Pond Capital LP bought a new position in Newmark Group in the 4th quarter worth approximately $15,900,000. Emerald Advisers Inc. PA bought a new position in Newmark Group in the 4th quarter worth approximately $1,368,000. Finally, Landscape Capital Management L.L.C. bought a new position in Newmark Group in the 4th quarter worth approximately $239,000. Institutional investors own 12.76% of the company’s stock.

NASDAQ NMRK opened at $15.19 on Wednesday. Newmark Group has a 52 week low of $13.72 and a 52 week high of $16.98. The stock has a market cap of $2,350.82 and a PE ratio of 13.21. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.43.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings data on Friday, February 9th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.30. The company had revenue of $460.60 million for the quarter, compared to the consensus estimate of $428.10 million. During the same quarter last year, the firm posted $0.31 earnings per share. sell-side analysts forecast that Newmark Group will post 1.49 EPS for the current fiscal year.

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About Newmark Group

Newmark Group, Inc is a commercial real estate services company. The Company is focused on offering products and services to both owners and occupiers across the entire commercial real estate industry. Its investor/owner services and products include capital markets, which consists of investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory, diligence and underwriting and government-sponsored enterprise lending and loan servicing.

Analyst Recommendations for Newmark Group (NASDAQ:NMRK)

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