Newmark Group (NASDAQ:NMRK) Given New $17.00 Price Target at The Goldman Sachs Group

Newmark Group (NASDAQ:NMRK) had its target price lowered by The Goldman Sachs Group from $19.50 to $17.00 in a report published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Separately, Wolfe Research lowered shares of Newmark Group from an “outperform” rating to a “peer perform” rating in a report on Monday, November 25th.

Newmark Group Trading Up 2.0 %

Shares of NASDAQ NMRK opened at $12.53 on Wednesday. Newmark Group has a 1-year low of $9.44 and a 1-year high of $16.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. The business’s 50 day moving average is $13.56 and its two-hundred day moving average is $14.26. The stock has a market capitalization of $2.26 billion, a P/E ratio of 35.80 and a beta of 1.96.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Friday, February 14th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.07. The firm had revenue of $888.30 million for the quarter, compared to the consensus estimate of $790.76 million. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. As a group, research analysts expect that Newmark Group will post 1.45 EPS for the current year.

Newmark Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Monday, March 3rd. Newmark Group’s payout ratio is currently 34.29%.

Hedge Funds Weigh In On Newmark Group

Several hedge funds have recently bought and sold shares of NMRK. Vanguard Group Inc. lifted its position in shares of Newmark Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 21,114,662 shares of the company’s stock worth $270,479,000 after purchasing an additional 83,094 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Newmark Group by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,374,705 shares of the company’s stock valued at $81,660,000 after buying an additional 88,618 shares in the last quarter. Geode Capital Management LLC boosted its position in Newmark Group by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,554,867 shares of the company’s stock valued at $55,216,000 after buying an additional 190,974 shares during the period. State Street Corp boosted its position in Newmark Group by 7.8% in the 3rd quarter. State Street Corp now owns 3,426,682 shares of the company’s stock valued at $53,216,000 after buying an additional 247,433 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Newmark Group by 44.9% in the 4th quarter. Principal Financial Group Inc. now owns 3,098,429 shares of the company’s stock worth $39,691,000 after acquiring an additional 960,799 shares in the last quarter. Institutional investors 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.