The Goldman Sachs Group Has Lowered Expectations for Newmark Group (NASDAQ:NMRK) Stock Price

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

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

Newmark Group Stock Up 2.0 %

NASDAQ:NMRK opened at $12.53 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. Newmark Group has a 1-year low of $9.44 and a 1-year high of $16.10. The company has a 50-day moving average of $13.56 and a 200 day moving average of $14.26. The firm has a market cap of $2.26 billion, a PE ratio of 35.80 and a beta of 1.96.

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

Newmark Group Announces Dividend

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

Institutional Investors Weigh In On Newmark Group

A number of hedge funds and other institutional investors have recently bought and sold shares of NMRK. Wealth Enhancement Advisory Services LLC increased its position in shares of Newmark Group by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 32,806 shares of the company’s stock worth $420,000 after purchasing an additional 1,286 shares in the last quarter. Wealthedge Investment Advisors LLC purchased a new position in Newmark Group during the 4th quarter worth $196,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Newmark Group by 10.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 293,895 shares of the company’s stock valued at $3,765,000 after buying an additional 28,599 shares in the last quarter. Twinbeech Capital LP purchased a new stake in Newmark Group in the fourth quarter valued at about $409,000. Finally, Two Sigma Investments LP acquired a new stake in Newmark Group in the fourth quarter worth about $287,000. Hedge funds and other 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.