Newmark Group (NMRK) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Newmark Group (NASDAQ:NMRK) from a buy rating to a hold rating in a research report sent to investors on Thursday.

According to Zacks, “Newmark Group, Inc. operates as a commercial real estate advisory firm. The Company offers services and products which includes investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory and loan servicing. Newmark Group, Inc. is based in New York, United States. “

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A number of other research firms have also weighed in on NMRK. Raymond James Financial assumed coverage on Newmark Group in a research note on Tuesday, February 6th. They issued an outperform rating and a $21.00 target price for the company. Wedbush assumed coverage on Newmark Group in a research note on Tuesday, January 9th. They issued an outperform rating and a $20.00 target price for the company. Keefe, Bruyette & Woods assumed coverage on Newmark Group in a research note on Tuesday, January 9th. They issued a market perform rating and a $17.00 target price for the company. Sandler O’Neill assumed coverage on Newmark Group in a research note on Tuesday, January 9th. They issued a buy rating and a $18.50 target price for the company. Finally, Bank of America assumed coverage on Newmark Group in a research note on Tuesday, January 9th. They issued a buy rating and a $20.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Newmark Group currently has a consensus rating of Buy and a consensus target price of $19.64.

NASDAQ NMRK opened at $15.19 on Thursday. Newmark Group has a 1-year low of $13.72 and a 1-year high of $16.98. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.40 and a quick ratio of 0.40.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Friday, February 9th. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $460.60 million during the quarter, compared to the consensus estimate of $428.10 million. During the same period last year, the firm posted $0.31 EPS. research analysts predict that Newmark Group will post 1.49 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMRK. Cardinal Capital Management LLC CT bought a new position in Newmark Group during the 4th quarter valued at approximately $25,982,000. Zimmer Partners LP bought a new position in Newmark Group during the 4th quarter valued at approximately $25,440,000. The Manufacturers Life Insurance Company bought a new position in Newmark Group during the 4th quarter valued at approximately $20,723,000. Gratia Capital LLC bought a new position in Newmark Group during the 4th quarter valued at approximately $20,652,000. Finally, Long Pond Capital LP bought a new position in Newmark Group during the 4th quarter valued at approximately $15,900,000. 12.76% of the stock is owned by institutional investors and hedge funds.

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Newmark Group Company Profile

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.

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