The Goldman Sachs Group Lowers Newmark Group (NASDAQ:NMRK) Price Target to $17.00

Newmark Group (NASDAQ:NMRK) had its target price cut by investment analysts at The Goldman Sachs Group from $19.50 to $17.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 35.14% from the stock’s previous close.

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

Newmark Group Stock Up 0.4 %

Newmark Group stock opened at $12.58 on Wednesday. The company has a market capitalization of $2.27 billion, a P/E ratio of 35.94 and a beta of 1.96. The firm’s fifty day simple moving average is $13.56 and its 200-day simple moving average is $14.25. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. Newmark Group has a 1-year low of $9.44 and a 1-year high of $16.10.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings results on Friday, February 14th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. The business had revenue of $888.30 million for the quarter, compared to the consensus estimate of $790.76 million. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. Newmark Group’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. Sell-side analysts forecast that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Barclays PLC raised its holdings in Newmark Group by 0.3% in the 4th quarter. Barclays PLC now owns 227,866 shares of the company’s stock worth $2,919,000 after acquiring an additional 767 shares during the period. MetLife Investment Management LLC grew its position in Newmark Group by 1.3% in the 4th quarter. MetLife Investment Management LLC now owns 79,900 shares of the company’s stock worth $1,024,000 after purchasing an additional 1,035 shares during the last quarter. Rhumbline Advisers grew its position in Newmark Group by 0.5% in the 4th quarter. Rhumbline Advisers now owns 237,015 shares of the company’s stock worth $3,036,000 after purchasing an additional 1,201 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Newmark Group by 4.1% in the 4th 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 during the last quarter. Finally, Cetera Investment Advisers grew its position in Newmark Group by 2.7% in the 4th quarter. Cetera Investment Advisers now owns 53,635 shares of the company’s stock worth $687,000 after purchasing an additional 1,385 shares during the last quarter. Institutional investors own 58.42% of the company’s stock.

About Newmark Group

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.