Newmark Group (NASDAQ:NMRK) Given New $13.00 Price Target at Keefe, Bruyette & Woods

Newmark Group (NASDAQ:NMRK) had its price objective raised by Keefe, Bruyette & Woods from $11.25 to $13.00 in a research report released on Thursday, Benzinga reports. The firm currently has a market perform rating on the stock.

Newmark Group Trading Up 3.6 %

Shares of NASDAQ NMRK opened at $12.35 on Thursday. The company’s 50 day simple moving average is $10.56 and its 200 day simple moving average is $10.43. Newmark Group has a fifty-two week low of $5.09 and a fifty-two week high of $12.69. The firm has a market capitalization of $2.13 billion, a P/E ratio of 56.14 and a beta of 2.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.56 and a quick ratio of 0.56.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Friday, May 3rd. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). The firm had revenue of $546.50 million during the quarter, compared to analyst estimates of $526.07 million. Newmark Group had a return on equity of 17.03% and a net margin of 1.47%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.15 earnings per share. On average, analysts predict that Newmark Group will post 1.12 EPS for the current year.

Newmark Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a $0.03 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.12 annualized dividend and a yield of 0.97%. Newmark Group’s dividend payout ratio (DPR) is presently 54.55%.

Institutional Investors Weigh In On Newmark Group

Hedge funds have recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in Newmark Group in the first quarter worth $29,000. Fifth Third Bancorp bought a new stake in shares of Newmark Group during the second quarter worth $33,000. EntryPoint Capital LLC increased its position in shares of Newmark Group by 35.5% during the first quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after acquiring an additional 1,159 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Newmark Group during the fourth quarter worth $119,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Newmark Group during the fourth quarter worth $135,000. 58.42% 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, 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.