Newmark Group (NASDAQ:NMRK) Stock Rating Lowered by Wolfe Research

Wolfe Research lowered shares of Newmark Group (NASDAQ:NMRK) from an outperform rating to a peer perform rating in a research report released on Monday morning, MarketBeat reports.

Several other brokerages have also weighed in on NMRK. Keefe, Bruyette & Woods raised Newmark Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $13.50 to $16.50 in a research report on Thursday, September 5th. Piper Sandler increased their price objective on Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd.

Newmark Group Stock Performance

Shares of NMRK opened at $15.63 on Monday. The company has a market capitalization of $2.67 billion, a PE ratio of 52.10 and a beta of 2.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. The company’s 50 day moving average price is $15.15 and its 200 day moving average price is $12.93. Newmark Group has a 52 week low of $7.80 and a 52 week high of $16.10.

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

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.77%. Newmark Group’s dividend payout ratio (DPR) is presently 40.00%.

Institutional Investors Weigh In On Newmark Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its holdings in shares of Newmark Group by 251.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock worth $7,246,000 after buying an additional 506,510 shares during the period. Systematic Financial Management LP grew its holdings in Newmark Group by 11.9% in the 2nd quarter. Systematic Financial Management LP now owns 928,935 shares of the company’s stock valued at $9,503,000 after buying an additional 98,532 shares during the last quarter. Algert Global LLC increased its position in Newmark Group by 64.3% in the 3rd quarter. Algert Global LLC now owns 238,138 shares of the company’s stock worth $3,698,000 after buying an additional 93,160 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Newmark Group by 104.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 120,535 shares of the company’s stock worth $1,872,000 after buying an additional 61,563 shares during the last quarter. Finally, Miller Howard Investments Inc. NY boosted its position in shares of Newmark Group by 2.4% in the second quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock valued at $359,000 after acquiring an additional 823 shares during the period. 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.