Newmark Group (NASDAQ:NMRK) Sets New 12-Month High at $11.51

Shares of Newmark Group, Inc. (NASDAQ:NMRK) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $11.51 and last traded at $11.37, with a volume of 438659 shares traded. The stock had previously closed at $11.08.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NMRK shares. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price objective on shares of Newmark Group in a research report on Tuesday. Keefe, Bruyette & Woods increased their target price on shares of Newmark Group from $11.00 to $11.25 and gave the company a “market perform” rating in a research report on Monday, February 26th.

Newmark Group Price Performance

The firm has a market capitalization of $1.91 billion, a PE ratio of 44.32 and a beta of 1.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 0.59. The business’s 50 day moving average is $10.55 and its two-hundred day moving average is $8.76.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Newmark Group had a net margin of 1.72% and a return on equity of 17.03%. The firm had revenue of $747.70 million during the quarter, compared to the consensus estimate of $743.53 million. During the same period last year, the firm earned $0.32 EPS. Equities research analysts anticipate that Newmark Group, Inc. will post 1.12 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, March 7th. Newmark Group’s dividend payout ratio is currently 48.00%.

Hedge Funds Weigh In On Newmark Group

A number of hedge funds have recently modified their holdings of NMRK. Tower Research Capital LLC TRC increased its position in shares of Newmark Group by 65.4% in the third quarter. Tower Research Capital LLC TRC now owns 5,157 shares of the company’s stock valued at $33,000 after acquiring an additional 2,040 shares during the period. Captrust Financial Advisors increased its position in shares of Newmark Group by 44.0% during the second quarter. Captrust Financial Advisors now owns 3,849 shares of the company’s stock valued at $37,000 after buying an additional 1,176 shares during the period. Bessemer Group Inc. increased its position in shares of Newmark Group by 6,298.8% during the fourth quarter. Bessemer Group Inc. now owns 5,183 shares of the company’s stock valued at $41,000 after buying an additional 5,102 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of Newmark Group during the third quarter valued at about $44,000. Finally, Lazard Asset Management LLC increased its position in shares of Newmark Group by 117.8% during the third quarter. Lazard Asset Management LLC now owns 7,161 shares of the company’s stock valued at $46,000 after buying an additional 3,873 shares during the period. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Newmark Group Company Profile

Newmark Group, Inc provides commercial real estate services in the United States, the United Kingdom, and internationally. The company offers capital markets consisting of investment sales and commercial mortgage brokerage; landlord or agency representation leasing; valuation and advisory; property management; commercial real estate technology platform and capabilities; the United Kingdom business rates services; due diligence, consulting, and other advisory services; GSEs and the Federal Housing Administration lending services comprising multifamily lending and loan servicing; asset management; and flexible workspace solutions for owners.