Newmark Group (NASDAQ:NMRK) Price Target Cut to $6.25

Posted by Defense World Staff on Apr 11th, 2023

Newmark Group (NASDAQ:NMRK – Get Rating) had its target price reduced by The Goldman Sachs Group from $9.00 to $6.25 in a research report sent to investors on Monday morning, The Fly reports.

Separately, Raymond James decreased their target price on Newmark Group from $13.00 to $10.00 and set an outperform rating on the stock in a research report on Friday, January 20th.

Newmark Group Price Performance

Shares of NMRK stock opened at $6.76 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 14.70 and a beta of 1.70. The business’s fifty day moving average is $7.69 and its 200 day moving average is $8.14. Newmark Group has a twelve month low of $6.28 and a twelve month high of $13.87.

Newmark Group (NASDAQ:NMRK – Get Rating) last announced its earnings results on Thursday, February 16th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $607.30 million during the quarter, compared to analysts’ expectations of $670.56 million. Newmark Group had a return on equity of 22.74% and a net margin of 3.19%. The company’s revenue for the quarter was down 38.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. Research analysts expect that Newmark Group will post 1.26 EPS for the current fiscal year.

Newmark Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Friday, March 3rd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 1.78%. Newmark Group’s payout ratio is currently 26.09%.

Institutional Trading of Newmark Group

Several large investors have recently modified their holdings of the business. Fox Run Management L.L.C. purchased a new position in shares of Newmark Group in the third quarter valued at $181,000. State of New Jersey Common Pension Fund D boosted its position in Newmark Group by 6.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 226,007 shares of the company’s stock valued at $1,822,000 after purchasing an additional 14,291 shares during the period. Alterna Wealth Management Inc. acquired a new position in shares of Newmark Group during the third quarter valued at $84,000. Wipfli Financial Advisors LLC bought a new stake in Newmark Group in the third quarter worth about $31,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of Newmark Group in the third quarter worth approximately $110,000. 55.36% of the stock is currently owned by institutional investors and hedge funds.

About Newmark Group

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Newmark Group Inc engages in the provision of commercial real estate services. It offers its services to commercial real estate tenants, investors, owners, occupiers, developers, leasing and corporate advisory, investment sales and real estate finance, consulting, origination and servicing of commercial mortgage loans, valuation, project and development management and property and facility management.

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