Newmark Group (NASDAQ:NMRK) Price Target Increased to $13.50 by Analysts at Keefe, Bruyette & Woods

Newmark Group (NASDAQ:NMRK) had its target price hoisted by Keefe, Bruyette & Woods from $13.00 to $13.50 in a research report report published on Thursday morning, Benzinga reports. They currently have a market perform rating on the stock.

Newmark Group Stock Performance

Shares of Newmark Group stock traded down $0.04 on Thursday, reaching $12.27. 955,790 shares of the stock were exchanged, compared to its average volume of 1,062,110. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.44. Newmark Group has a twelve month low of $5.09 and a twelve month high of $13.25. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 55.77 and a beta of 2.02. The business has a 50 day moving average price of $10.93 and a two-hundred day moving average price of $10.60.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Friday, August 2nd. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Newmark Group had a return on equity of 17.03% and a net margin of 1.47%. The firm had revenue of $633.40 million during the quarter, compared to the consensus estimate of $630.27 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. Analysts anticipate that Newmark Group will post 1.13 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Friday, August 16th. Newmark Group’s payout ratio is presently 54.55%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NMRK. Riverview Trust Co acquired a new position in Newmark Group in the first quarter valued at approximately $29,000. Fifth Third Bancorp acquired a new position in Newmark Group in the second quarter valued at approximately $33,000. EntryPoint Capital LLC lifted its holdings in Newmark Group by 35.5% in the first 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 during the period. Black Diamond Financial LLC acquired a new position in Newmark Group in the second quarter valued at approximately $102,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Newmark Group in the fourth quarter valued at approximately $119,000. 58.42% of the stock is owned by institutional investors and hedge funds.

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.