Newmark Group (NASDAQ:NMRK) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Newmark Group (NASDAQ:NMRK) from a peer perform rating to an outperform rating in a report issued on Friday, MarketBeat reports. The firm currently has $15.00 price target on the stock.

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Newmark Group from $13.00 to $13.50 and gave the company a market perform rating in a research report on Thursday, August 8th.

Newmark Group Trading Up 1.9 %

Shares of NASDAQ:NMRK opened at $12.86 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $2.22 billion, a PE ratio of 58.45 and a beta of 2.02. Newmark Group has a 1 year low of $5.09 and a 1 year high of $13.25. The firm has a fifty day moving average price of $11.20 and a 200 day moving average price of $10.70.

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

Newmark Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, August 16th. This represents a $0.12 annualized dividend and a dividend yield of 0.93%. Newmark Group’s dividend payout ratio is presently 54.55%.

Institutional Trading of Newmark Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Paulson & CO. Inc. lifted its holdings in shares of Newmark Group by 133.5% during the fourth quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock worth $32,880,000 after buying an additional 1,715,375 shares during the last quarter. Vanguard Group Inc. raised its stake in Newmark Group by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock valued at $227,067,000 after purchasing an additional 702,233 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Newmark Group by 1,595.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 713,621 shares of the company’s stock valued at $7,914,000 after purchasing an additional 671,521 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Newmark Group by 10.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,220,485 shares of the company’s stock valued at $68,178,000 after purchasing an additional 570,935 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Newmark Group by 251.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock worth $7,246,000 after purchasing an additional 506,510 shares during the last quarter. Institutional investors and hedge funds 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.