Newmark Group (NMRK) Upgraded to “Buy” at Sandler O’Neill

Sandler O’Neill upgraded shares of Newmark Group (NASDAQ:NMRK) from a hold rating to a buy rating in a report issued on Friday morning, Marketbeat Ratings reports. The brokerage currently has $12.00 price target on the stock.

Several other brokerages also recently issued reports on NMRK. Zacks Investment Research downgraded shares of Newmark Group from a buy rating to a hold rating in a report on Thursday, July 5th. Raymond James reduced their price target on shares of Newmark Group from $21.00 to $20.00 and set an outperform rating on the stock in a report on Thursday, September 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $18.14.

Shares of NASDAQ NMRK traded up $0.25 on Friday, hitting $10.11. The company’s stock had a trading volume of 314,620 shares, compared to its average volume of 381,397. Newmark Group has a 12-month low of $9.85 and a 12-month high of $16.98. The company has a market capitalization of $1.73 billion and a PE ratio of 8.79. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.51 and a quick ratio of 0.51.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. The business had revenue of $466.62 million during the quarter, compared to analysts’ expectations of $472.50 million. On average, analysts forecast that Newmark Group will post 1.5 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in NMRK. Wells Fargo & Company MN lifted its stake in shares of Newmark Group by 127.3% during the first quarter. Wells Fargo & Company MN now owns 21,813 shares of the company’s stock valued at $331,000 after buying an additional 12,217 shares during the period. Schwab Charles Investment Management Inc. purchased a new position in shares of Newmark Group during the first quarter valued at approximately $6,306,000. American International Group Inc. purchased a new position in shares of Newmark Group during the first quarter valued at approximately $226,000. Northern Trust Corp lifted its stake in shares of Newmark Group by 3,090.2% during the first quarter. Northern Trust Corp now owns 474,706 shares of the company’s stock valued at $7,211,000 after buying an additional 459,826 shares during the period. Finally, BlackRock Inc. purchased a new position in shares of Newmark Group during the first quarter valued at approximately $44,699,000. 13.94% of the stock is currently owned by institutional investors and hedge funds.

Newmark Group Company Profile

Newmark Group, Inc provides commercial real estate services in the United States and internationally. Its investor/owner services and products include capital markets, such as investment sales; and agency leasing, property management, valuation and advisory, and diligence and underwriting, as well as government sponsored enterprise lending, loan servicing, debt and structured finance, and loan sales under the Berkeley Point and NKF Capital Markets names.

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Analyst Recommendations for Newmark Group (NASDAQ:NMRK)

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