Newmark Group (NMRK) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Newmark Group (NASDAQ:NMRK) from a sell rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $8.75 price objective on the stock.

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. “

Several other equities analysts also recently weighed in on NMRK. ValuEngine downgraded Newmark Group from a hold rating to a sell rating in a report on Thursday, February 28th. Wedbush reduced their price target on Newmark Group from $20.00 to $16.00 and set an outperform rating for the company in a report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Newmark Group presently has a consensus rating of Buy and an average price target of $13.69.

Shares of NASDAQ:NMRK opened at $8.52 on Wednesday. Newmark Group has a 1-year low of $7.02 and a 1-year high of $15.62. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.60. The firm has a market cap of $1.50 billion, a PE ratio of 5.61, a P/E/G ratio of 0.61 and a beta of 1.15.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). Newmark Group had a net margin of 4.86% and a return on equity of 41.41%. The company had revenue of $447.70 million for the quarter, compared to the consensus estimate of $476.72 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. Newmark Group’s revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts predict that Newmark Group will post 1.63 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, May 24th. This is an increase from Newmark Group’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 4.69%. Newmark Group’s dividend payout ratio (DPR) is presently 23.68%.

In related news, CEO Barry M. Gosin purchased 561,084 shares of Newmark Group stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average cost of $7.71 per share, for a total transaction of $4,325,957.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 90.95% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Newmark Group by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,490 shares of the company’s stock worth $128,000 after buying an additional 6,860 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Newmark Group by 24.9% in the 3rd quarter. Wells Fargo & Company MN now owns 53,558 shares of the company’s stock worth $599,000 after buying an additional 10,679 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in Newmark Group in the 3rd quarter worth about $214,000. Finally, Renaissance Technologies LLC bought a new stake in Newmark Group in the 3rd quarter worth about $1,467,000. Hedge funds and other institutional investors own 57.13% of the company’s stock.

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 Newmark Knight Frank name.

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