Newmark Group (NASDAQ:NMRK) PT Raised to $13.00 at Keefe, Bruyette & Woods

Newmark Group (NASDAQ:NMRK) had its price target raised by stock analysts at Keefe, Bruyette & Woods from $11.25 to $13.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 9.06% from the company’s current price.

Newmark Group Stock Performance

Shares of NASDAQ:NMRK opened at $11.92 on Thursday. The business’s 50-day simple moving average is $10.53 and its 200 day simple moving average is $10.41. The company has a market cap of $2.06 billion, a P/E ratio of 54.18 and a beta of 2.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.56 and a current ratio of 0.56. Newmark Group has a one year low of $5.09 and a one year high of $12.55.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NMRK. Fifth Third Bancorp purchased a new stake in Newmark Group during the 2nd quarter worth approximately $33,000. Leeward Investments LLC MA increased its stake in shares of Newmark Group by 5.6% in the second quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company’s stock worth $19,514,000 after buying an additional 101,426 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Newmark Group by 251.0% in the second quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock valued at $7,246,000 after acquiring an additional 506,510 shares in the last quarter. Diversified Trust Co raised its holdings in Newmark Group by 4.6% in 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 in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Newmark Group by 30.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 16,484 shares of the company’s stock worth $180,000 after purchasing an additional 3,843 shares during the last quarter. Institutional investors and hedge funds 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.