Newmark Group (NASDAQ:NMRK) Hits New 12-Month High at $15.53

Newmark Group, Inc. (NASDAQ:NMRK)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $15.53 and last traded at $15.53, with a volume of 346818 shares changing hands. The stock had previously closed at $15.34.

Wall Street Analysts Forecast Growth

A number of research analysts have commented 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 research note on Friday, August 16th. Piper Sandler increased their target price on Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods raised Newmark Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $13.50 to $16.50 in a research report on Thursday, September 5th.

Newmark Group Stock Performance

The stock has a market capitalization of $2.68 billion, a PE ratio of 70.09 and a beta of 2.01. 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 fifty day moving average of $13.22 and a 200-day moving average of $11.35.

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

Newmark Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were paid a dividend of $0.03 per share. The ex-dividend date was Friday, August 16th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.77%. Newmark Group’s payout ratio is currently 54.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas raised its stake in Newmark Group by 221.3% during the 4th quarter. Teacher Retirement System of Texas now owns 36,038 shares of the company’s stock worth $395,000 after acquiring an additional 24,821 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Newmark Group by 168.5% in the 4th quarter. BNP Paribas Financial Markets now owns 136,034 shares of the company’s stock valued at $1,491,000 after purchasing an additional 85,362 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Newmark Group by 269.3% in the 4th quarter. Principal Financial Group Inc. now owns 74,642 shares of the company’s stock valued at $818,000 after purchasing an additional 54,430 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in Newmark Group during the 4th quarter worth approximately $119,000. Finally, Brown Advisory Inc. acquired a new position in Newmark Group during the fourth quarter worth approximately $412,000. Hedge funds and other 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.