Newmark Group (NASDAQ:NMRK) Cut to Peer Perform at Wolfe Research

Wolfe Research downgraded shares of Newmark Group (NASDAQ:NMRK) from an outperform rating to a peer perform rating in a research report sent to investors on Monday, Marketbeat Ratings reports.

A number of other research analysts have also recently issued reports on NMRK. Piper Sandler lifted their target price on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods upgraded Newmark Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $13.50 to $16.50 in a research report on Thursday, September 5th.

Newmark Group Price Performance

Shares of NMRK stock opened at $15.63 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s fifty day simple moving average is $15.15 and its 200 day simple moving average is $12.93. Newmark Group has a one year low of $7.80 and a one year high of $16.10. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 52.10 and a beta of 2.01.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The business had revenue of $685.90 million for the quarter, compared to analyst estimates of $682.07 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, analysts expect that Newmark Group will post 1.15 earnings per share for the current fiscal year.

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Thursday, November 21st. Newmark Group’s dividend payout ratio is presently 40.00%.

Institutional Trading of Newmark Group

Several hedge funds have recently modified their holdings of the stock. Miller Howard Investments Inc. NY lifted its holdings in Newmark Group by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock worth $359,000 after buying an additional 823 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Newmark Group by 4.6% during the second quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock valued at $249,000 after acquiring an additional 1,080 shares during the period. Creative Planning boosted its holdings in Newmark Group by 3.0% in the second quarter. Creative Planning now owns 39,393 shares of the company’s stock valued at $403,000 after acquiring an additional 1,131 shares during the last quarter. EntryPoint Capital LLC increased its position in Newmark Group by 35.5% in the first quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after purchasing an additional 1,159 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Newmark Group by 6.1% during the 2nd quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock worth $253,000 after purchasing an additional 1,420 shares during the last quarter. 58.42% of the stock is owned by institutional investors.

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.