Newmark Group (NASDAQ:NMRK) Reaches New 52-Week High at $15.15

Newmark Group, Inc. (NASDAQ:NMRK) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $15.15 and last traded at $15.04, with a volume of 26009 shares trading hands. The stock had previously closed at $14.95.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wolfe Research upgraded Newmark Group from a “peer perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a report on Friday, August 16th. Keefe, Bruyette & Woods upgraded Newmark Group from a “market perform” rating to an “outperform” rating and increased their target price 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 Price Performance

The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.49. The stock has a market cap of $2.58 billion, a P/E ratio of 67.86 and a beta of 2.01. The company’s 50 day moving average price is $12.99 and its two-hundred day moving average price is $11.25.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Friday, August 2nd. The company reported $0.22 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $630.27 million. During the same period in the prior year, the business earned $0.18 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, research analysts expect that Newmark Group, Inc. will post 1.15 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Friday, August 16th. Newmark Group’s dividend payout ratio (DPR) is 54.55%.

Institutional Investors Weigh In On Newmark Group

Hedge funds have recently modified their holdings of the business. Riverview Trust Co bought a new position in Newmark Group in the first quarter worth approximately $29,000. Fifth Third Bancorp bought a new position in shares of Newmark Group in the 2nd quarter worth $33,000. EntryPoint Capital LLC lifted its stake in shares of 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 purchasing an additional 1,159 shares during the last quarter. Black Diamond Financial LLC bought a new stake in Newmark Group during the second quarter valued at about $102,000. Finally, Evergreen Capital Management LLC purchased a new position in Newmark Group in the second quarter valued at about $107,000. 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.