Newmark Group (NASDAQ:NMRK) Upgraded 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 report sent to investors on Thursday, MarketBeat reports. The firm currently has $16.50 target price on the stock, up from their prior target price of $13.50.

Several other research analysts have also issued reports on NMRK. Wolfe Research upgraded shares of Newmark Group from a peer perform rating to an outperform rating and set a $15.00 price target on the stock in a research report on Friday, August 16th. Piper Sandler lifted their target price 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 Down 0.8 %

NMRK opened at $14.03 on Thursday. 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 company has a market capitalization of $2.42 billion, a PE ratio of 63.77 and a beta of 2.01. The stock’s fifty day moving average is $12.25 and its 200-day moving average is $11.02. Newmark Group has a one year low of $5.09 and a one year high of $14.47.

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

Newmark Group Announces Dividend

The company 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 of this dividend was Friday, August 16th. This represents a $0.12 annualized dividend and a dividend yield of 0.86%. Newmark Group’s dividend payout ratio (DPR) is presently 54.55%.

Hedge Funds Weigh In On Newmark Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in NMRK. Riverview Trust Co acquired a new stake in shares of Newmark Group in the first quarter worth $29,000. Fifth Third Bancorp purchased a new position in Newmark Group during the 2nd quarter valued at about $33,000. EntryPoint Capital LLC grew its stake in Newmark Group by 35.5% during the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock valued at $49,000 after acquiring an additional 1,159 shares in the last quarter. Black Diamond Financial LLC acquired a new position in shares of Newmark Group in the 2nd quarter valued at about $102,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Newmark Group in the second quarter worth approximately $107,000. 58.42% of the stock is currently owned by hedge funds and other 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.