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

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

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

Newmark Group Stock Performance

NASDAQ:NMRK opened at $15.63 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. Newmark Group has a 52-week low of $7.80 and a 52-week high of $16.10. The stock’s 50 day moving average price is $15.15 and its 200 day moving average price is $12.91. The company has a market capitalization of $2.67 billion, a PE ratio of 52.10 and a beta of 2.01.

Newmark Group (NASDAQ:NMRK) last announced its earnings results on Tuesday, November 5th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $685.90 million for the quarter, compared to analysts’ expectations of $682.07 million. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 EPS. On average, research analysts anticipate that Newmark Group will post 1.15 EPS for the current year.

Newmark Group Announces Dividend

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

Institutional Trading of Newmark Group

Several hedge funds and other institutional investors have recently made changes to their positions in NMRK. Fifth Third Bancorp acquired a new stake in Newmark Group in the second quarter valued at about $33,000. EntryPoint Capital LLC raised its stake in shares of Newmark Group by 35.5% during the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after buying an additional 1,159 shares in the last quarter. Assetmark Inc. acquired a new stake in shares of Newmark Group in the 3rd quarter valued at approximately $93,000. Black Diamond Financial LLC purchased a new stake in shares of Newmark Group in the second quarter valued at approximately $102,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Newmark Group in the second quarter valued at approximately $107,000. 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.