Newmark Group (NASDAQ:NMRK) Lifted to “Outperform” at Wolfe Research

Wolfe Research upgraded shares of Newmark Group (NASDAQ:NMRK) from a peer perform rating to an outperform rating in a report published on Friday, MarketBeat.com reports. Wolfe Research currently has $15.00 price target on the stock.

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

Newmark Group Trading Up 1.9 %

NMRK stock opened at $12.86 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.44. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 58.45 and a beta of 2.02. The business has a fifty day simple moving average of $11.20 and a 200-day simple moving average of $10.70. Newmark Group has a 52 week low of $5.09 and a 52 week high of $13.25.

Newmark Group (NASDAQ:NMRK) last announced 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. The company had revenue of $633.40 million during the quarter, compared to analyst estimates of $630.27 million. Newmark Group had a return on equity of 17.03% and a net margin of 1.47%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. On average, equities research analysts expect that Newmark Group will post 1.13 EPS for the current year.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, August 16th. Newmark Group’s dividend payout ratio (DPR) is presently 54.55%.

Institutional Trading of Newmark Group

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Newmark Group by 3.6% in the first quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock valued at $227,067,000 after purchasing an additional 702,233 shares during the period. Dimensional Fund Advisors LP boosted its position in Newmark Group by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock valued at $68,399,000 after buying an additional 480,047 shares during the last quarter. Paulson & CO. Inc. boosted its position in Newmark Group by 133.5% in the 4th quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock valued at $32,880,000 after buying an additional 1,715,375 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Newmark Group by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,969,167 shares of the company’s stock valued at $21,582,000 after acquiring an additional 81,209 shares in the last quarter. Finally, Leeward Investments LLC MA increased its position in shares of Newmark Group by 5.6% during the second quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company’s stock worth $19,514,000 after acquiring an additional 101,426 shares during the last quarter. Institutional investors and hedge funds own 58.42% of the company’s stock.

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.