Newmark Group (NASDAQ:NMRK) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Newmark Group (NASDAQ:NMRK) from a peer perform rating to an outperform rating in a research note issued to investors on Friday, MarketBeat reports. They currently have $15.00 price target on the stock.

Separately, Keefe, Bruyette & Woods boosted their price objective on Newmark Group from $13.00 to $13.50 and gave the company a market perform rating in a research report on Thursday, August 8th.

Newmark Group Price Performance

NASDAQ NMRK opened at $12.87 on Friday. The company has a market capitalization of $2.22 billion, a PE ratio of 58.50 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. The business’s fifty day moving average is $11.26 and its 200 day moving average is $10.72. Newmark Group has a fifty-two week low of $5.09 and a fifty-two week high of $13.25.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $633.40 million for the quarter, compared to the consensus estimate of $630.27 million. Newmark Group had a return on equity of 17.03% and a net margin of 1.47%. Newmark Group’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 earnings per share. Sell-side analysts predict that Newmark Group will post 1.13 earnings per share for the current year.

Newmark Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.12 annualized dividend and a dividend yield of 0.93%. Newmark Group’s payout ratio is 54.55%.

Hedge Funds Weigh In On Newmark Group

Several large investors have recently made changes to their positions in the business. Riverview Trust Co bought a new stake in shares of Newmark Group in the first quarter worth about $29,000. Fifth Third Bancorp bought a new stake in shares of Newmark Group in the second quarter worth about $33,000. EntryPoint Capital LLC increased its holdings in shares of Newmark Group by 35.5% in the first quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after purchasing an additional 1,159 shares during the last quarter. Black Diamond Financial LLC bought a new stake in shares of Newmark Group in the second quarter worth about $102,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of Newmark Group in the second quarter worth about $107,000. 58.42% of the stock is currently owned by hedge funds and other institutional investors.

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.