Newmark Group (NASDAQ:NMRK) Cut to Peer Perform at Wolfe Research

Wolfe Research lowered shares of Newmark Group (NASDAQ:NMRK) from an outperform rating to a peer perform rating in a report issued on Monday morning, MarketBeat Ratings reports.

Several other equities analysts have also commented on NMRK. Keefe, Bruyette & Woods upgraded shares of Newmark Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $13.50 to $16.50 in a report on Thursday, September 5th. 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.

Newmark Group Price Performance

NMRK stock opened at $15.63 on Monday. Newmark Group has a 52-week low of $7.80 and a 52-week high of $16.10. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 52.10 and a beta of 2.01. The business has a fifty day moving average of $15.15 and a two-hundred day moving average of $12.91.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The firm had revenue of $685.90 million during the quarter, compared to the consensus estimate of $682.07 million. During the same period last year, the company earned $0.27 EPS. The company’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, research analysts anticipate that Newmark Group will post 1.15 earnings per share for the current year.

Newmark Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, November 21st. Newmark Group’s payout ratio is 40.00%.

Hedge Funds Weigh In On Newmark Group

Several institutional investors have recently modified their holdings of NMRK. Principal Financial Group Inc. grew its position in shares of Newmark Group by 1,017.4% during the third quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company’s stock worth $33,197,000 after buying an additional 1,946,322 shares in the last quarter. Vision Capital Corp purchased a new stake in shares of Newmark Group in the 3rd quarter valued at approximately $17,203,000. Vanguard Group Inc. increased its position in shares of Newmark Group by 3.6% in the 1st 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 last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Newmark Group by 1,595.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 713,621 shares of the company’s stock valued at $7,914,000 after purchasing an additional 671,521 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Newmark Group by 251.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock worth $7,246,000 after purchasing an additional 506,510 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.