Newmark Group (NMRK) Upgraded at Zacks Investment Research

Newmark Group (NASDAQ:NMRK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $17.00 target price on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.26% from the stock’s current price.

According to Zacks, “Newmark Group, Inc. operates as a commercial real estate advisory firm. The Company offers services and products which includes investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory and loan servicing. Newmark Group, Inc. is based in New York, United States. “

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A number of other research firms have also weighed in on NMRK. Wedbush started coverage on shares of Newmark Group in a research note on Tuesday, January 9th. They set an “outperform” rating and a $20.00 target price on the stock. Bank of America started coverage on shares of Newmark Group in a research note on Tuesday, January 9th. They set a “buy” rating and a $20.00 target price on the stock. Raymond James Financial started coverage on shares of Newmark Group in a research note on Tuesday, February 6th. They set an “outperform” rating and a $21.00 target price on the stock. Keefe, Bruyette & Woods started coverage on shares of Newmark Group in a research note on Tuesday, January 9th. They set a “market perform” rating and a $17.00 target price on the stock. Finally, Goldman Sachs started coverage on shares of Newmark Group in a research note on Tuesday, January 9th. They issued a “buy” rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $19.64.

Shares of NMRK stock traded down $0.08 during trading hours on Wednesday, reaching $15.28. 21,788 shares of the stock were exchanged, compared to its average volume of 594,943. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.40 and a current ratio of 0.40. Newmark Group has a 12-month low of $13.72 and a 12-month high of $16.98. The firm has a market capitalization of $2,346.18 and a price-to-earnings ratio of 13.36.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Friday, February 9th. The company reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30. The firm had revenue of $460.60 million for the quarter, compared to analysts’ expectations of $428.10 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. equities analysts forecast that Newmark Group will post 1.49 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Doheny Asset Management CA purchased a new position in Newmark Group in the fourth quarter valued at approximately $1,654,000. Zimmer Partners LP purchased a new position in Newmark Group in the fourth quarter valued at approximately $25,440,000. Millennium Management LLC purchased a new position in Newmark Group in the fourth quarter valued at approximately $3,097,000. Goldman Sachs Group Inc. purchased a new position in Newmark Group in the fourth quarter valued at approximately $3,825,000. Finally, Gratia Capital LLC purchased a new position in Newmark Group in the fourth quarter valued at approximately $20,652,000. Institutional investors own 12.76% of the company’s stock.

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About Newmark Group

Newmark Group, Inc is a commercial real estate services company. The Company is focused on offering products and services to both owners and occupiers across the entire commercial real estate industry. Its investor/owner services and products include capital markets, which consists of investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory, diligence and underwriting and government-sponsored enterprise lending and loan servicing.

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