Newmark Group (NASDAQ:NMRK) Stock Rating Lowered by Wolfe Research

Newmark Group (NASDAQ:NMRK) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports.

A number of other brokerages also recently commented on NMRK. Piper Sandler increased their price target on Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and upped their price target for the company from $13.50 to $16.50 in a report on Thursday, September 5th.

Newmark Group Stock Up 2.1 %

Shares of NASDAQ NMRK opened at $15.28 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. Newmark Group has a 52-week low of $7.72 and a 52-week high of $16.10. The stock has a market capitalization of $2.61 billion, a PE ratio of 50.93 and a beta of 2.01. The firm has a fifty day moving average of $15.11 and a 200-day moving average of $12.82.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The business had revenue of $685.90 million during the quarter, compared to analyst estimates of $682.07 million. During the same period last year, the business earned $0.27 EPS. The business’s revenue was up 11.3% on a year-over-year basis. On average, analysts anticipate that Newmark Group will post 1.15 EPS for the current year.

Institutional Investors Weigh In On Newmark Group

A number of institutional investors have recently modified their holdings of NMRK. Vanguard Group Inc. boosted its holdings in shares of Newmark Group by 3.6% during the first quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock valued at $227,067,000 after acquiring an additional 702,233 shares during the period. EntryPoint Capital LLC grew its position in Newmark Group by 35.5% in the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after purchasing an additional 1,159 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Newmark Group by 30.4% in the first quarter. Lazard Asset Management LLC now owns 16,502 shares of the company’s stock valued at $182,000 after purchasing an additional 3,843 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Newmark Group by 4.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 111,296 shares of the company’s stock valued at $1,235,000 after buying an additional 4,779 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Newmark Group by 455.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 90,108 shares of the company’s stock worth $999,000 after acquiring an additional 73,885 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.