Newmark Group (NASDAQ:NMRK) Sets New 12-Month High at $13.27

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Newmark Group Inc (NASDAQ:NMRK)’s share price reached a new 52-week high on Wednesday . The company traded as high as $13.27 and last traded at $13.27, with a volume of 39574 shares trading hands. The stock had previously closed at $13.04.

A number of equities research analysts recently commented on NMRK shares. ValuEngine cut shares of Newmark Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Bank of America initiated coverage on Newmark Group in a report on Friday, October 18th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Zacks Investment Research upgraded Newmark Group from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $14.00.

The company has a market capitalization of $2.37 billion, a P/E ratio of 8.74, a P/E/G ratio of 0.91 and a beta of 1.43. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average is $11.47 and its 200 day moving average is $9.64.

Newmark Group (NASDAQ:NMRK) last issued its earnings results on Wednesday, October 30th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $586.63 million for the quarter, compared to analysts’ expectations of $565.52 million. Newmark Group had a net margin of 6.44% and a return on equity of 41.01%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 EPS. Equities research analysts predict that Newmark Group Inc will post 1.66 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, November 18th. This represents a $0.40 dividend on an annualized basis and a yield of 3.01%. Newmark Group’s dividend payout ratio (DPR) is 26.32%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. bought a new stake in Newmark Group in the 2nd quarter worth approximately $187,462,000. BlackRock Inc. bought a new position in Newmark Group during the second quarter valued at approximately $86,478,000. Westfield Capital Management Co. LP purchased a new position in shares of Newmark Group during the second quarter worth approximately $32,718,000. Bank of New York Mellon Corp purchased a new position in shares of Newmark Group during the second quarter worth approximately $30,001,000. Finally, EJF Capital LLC bought a new stake in shares of Newmark Group in the 2nd quarter worth approximately $27,331,000. Institutional investors and hedge funds own 55.76% of the company’s stock.

About Newmark Group (NASDAQ:NMRK)

Newmark Group, Inc provides commercial real estate services in the United States and internationally. Its investor/owner services and products include capital markets, such as investment sales; and agency leasing, property management, valuation and advisory, and diligence and underwriting, as well as government sponsored enterprise lending, loan servicing, debt and structured finance, and loan sales under the Newmark Knight Frank name.

Further Reading: Cost of Equity For A Business, Investors

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