Newmark Group (NASDAQ:NMRK) Upgraded by Keefe, Bruyette & Woods to Outperform

Keefe, Bruyette & Woods upgraded shares of Newmark Group (NASDAQ:NMRK) from a market perform rating to an outperform rating in a research note published on Thursday, MarketBeat reports. Keefe, Bruyette & Woods currently has $16.50 price objective on the stock, up from their prior price objective of $13.50.

NMRK has been the topic of a number of other research reports. 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 report on Friday, August 16th. Piper Sandler boosted their price target on Newmark Group from $13.00 to $17.00 and gave the stock an overweight rating in a research report on Tuesday, September 3rd.

Newmark Group Stock Performance

Shares of NASDAQ NMRK opened at $14.03 on Thursday. Newmark Group has a one year low of $5.09 and a one year high of $14.47. The business’s 50-day moving average price is $12.25 and its two-hundred day moving average price is $11.02. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.49 and a quick ratio of 0.49. The company has a market capitalization of $2.42 billion, a P/E ratio of 63.77 and a beta of 2.01.

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

Newmark Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were issued a $0.03 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.12 annualized dividend and a yield of 0.86%. Newmark Group’s dividend payout ratio (DPR) is presently 54.55%.

Institutional Investors Weigh In On Newmark Group

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

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.