Newmark Group (NASDAQ:NMRK) Trading 7% Higher – Time to Buy?

Newmark Group, Inc. (NASDAQ:NMRK) shot up 7% on Thursday . The company traded as high as $15.59 and last traded at $15.56. 432,634 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 1,150,673 shares. The stock had previously closed at $14.54.

Analysts Set New Price Targets

NMRK has been the subject of a number of analyst reports. Wolfe Research upgraded shares of Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price target for the company in a research note on Friday, August 16th. Keefe, Bruyette & Woods upgraded Newmark Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th. Finally, Piper Sandler boosted their target price on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd.

Newmark Group Trading Up 6.2 %

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 70.00 and a beta of 2.01. The company’s 50-day moving average is $14.48 and its 200-day moving average is $12.00.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. Newmark Group had a return on equity of 17.78% and a net margin of 1.75%. The business had revenue of $633.40 million for the quarter, compared to analysts’ expectations of $630.27 million. During the same quarter last year, the business earned $0.18 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts predict that Newmark Group, Inc. will post 1.15 earnings per share for the current year.

Newmark Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, August 16th. Newmark Group’s dividend payout ratio (DPR) is currently 54.55%.

Hedge Funds Weigh In On Newmark Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Riverview Trust Co acquired a new position in Newmark Group during the first quarter valued at approximately $29,000. Fifth Third Bancorp bought a new stake in shares of Newmark Group in the 2nd quarter valued at $33,000. EntryPoint Capital LLC raised its stake in Newmark Group by 35.5% during the 1st 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 period. SG Americas Securities LLC bought a new stake in shares of Newmark Group in the third quarter worth about $112,000. Finally, Blue Trust Inc. raised its position in shares of Newmark Group by 408.2% during the third quarter. Blue Trust Inc. now owns 9,401 shares of the company’s stock worth $146,000 after purchasing an additional 7,551 shares during the period. 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.