Newmark Group (NASDAQ:NMRK) Upgraded to “Outperform” at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Newmark Group (NASDAQ:NMRK) from a market perform rating to an outperform rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. Keefe, Bruyette & Woods currently has $16.50 price objective on the stock, up from their previous price objective of $13.50.

A number of other research firms also recently weighed in on NMRK. Piper Sandler upped their price target on Newmark Group from $13.00 to $17.00 and gave the stock an overweight rating in a research note on Tuesday, September 3rd. Wolfe Research raised Newmark Group from a peer perform rating to an outperform rating and set a $15.00 target price on the stock in a research report on Friday, August 16th.

Newmark Group Price Performance

Newmark Group stock opened at $14.03 on Thursday. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 63.77 and a beta of 2.01. Newmark Group has a 52-week low of $5.09 and a 52-week high of $14.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.49. The stock’s 50 day moving average price is $12.25 and its two-hundred day moving average price is $11.02.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Newmark Group had a net margin of 1.75% and a return on equity of 17.78%. The business had revenue of $633.40 million during the quarter, compared to analysts’ expectations of $630.27 million. During the same period last year, the company posted $0.18 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts predict that Newmark Group will post 1.14 earnings per share for the current year.

Newmark Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were given a $0.03 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.12 annualized dividend and a yield of 0.86%. Newmark Group’s payout ratio is 54.55%.

Institutional Trading of Newmark Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new position in shares of Newmark Group during the first quarter valued at approximately $29,000. Fifth Third Bancorp purchased a new position in Newmark Group during the 2nd quarter worth $33,000. EntryPoint Capital LLC grew its stake in shares of Newmark Group by 35.5% in the 1st 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. Black Diamond Financial LLC purchased a new stake in shares of Newmark Group in the second quarter valued at about $102,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Newmark Group in the second quarter valued at about $107,000. 58.42% of the stock is owned by institutional investors.

About Newmark Group

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.