Newmark Group (NASDAQ:NMRK) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Newmark Group (NASDAQ:NMRK) from a buy rating to a hold rating in a report released on Wednesday, reports.

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. “

NASDAQ:NMRK opened at $9.76 on Wednesday. The stock has a 50 day moving average price of $8.72. Newmark Group has a 52 week low of $7.02 and a 52 week high of $14.68. The firm has a market capitalization of $1.74 billion, a P/E ratio of 6.51, a P/E/G ratio of 0.71 and a beta of 1.17. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.60.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Newmark Group had a return on equity of 41.41% and a net margin of 4.86%. The firm had revenue of $447.70 million during the quarter, compared to analyst estimates of $476.72 million. During the same quarter in the prior year, the company posted $0.19 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts predict that Newmark Group will post 1.63 earnings per share for the current year.

In other news, CEO Barry M. Gosin acquired 561,084 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average price of $7.71 per share, for a total transaction of $4,325,957.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 90.95% of the company’s stock.

About Newmark Group

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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