Piper Sandler Raises Newmark Group (NASDAQ:NMRK) Price Target to $17.00

Newmark Group (NASDAQ:NMRK) had its price objective lifted by Piper Sandler from $13.00 to $17.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently issued reports on NMRK. 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 lifted their price target on Newmark Group from $13.00 to $13.50 and gave the company a market perform rating in a report on Thursday, August 8th.

Newmark Group Trading Down 0.8 %

Shares of NASDAQ NMRK opened at $14.03 on Tuesday. 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 business has a fifty day simple moving average of $12.18 and a two-hundred day simple moving average of $11.00. The firm has a market cap of $2.42 billion, a PE ratio of 63.82 and a beta of 2.01. Newmark Group has a twelve month low of $5.09 and a twelve month high of $14.47.

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 analysts’ consensus estimates 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 analyst estimates of $630.27 million. During the same period in the previous year, the company posted $0.18 EPS. Newmark Group’s revenue was up 8.1% on a year-over-year basis. Analysts expect that Newmark Group will post 1.14 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, August 16th. Newmark Group’s dividend payout ratio is currently 54.55%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in Newmark Group by 168.5% during the 4th quarter. BNP Paribas Financial Markets now owns 136,034 shares of the company’s stock valued at $1,491,000 after buying an additional 85,362 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Newmark Group by 251.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock valued at $7,246,000 after buying an additional 506,510 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Newmark Group during the 4th quarter valued at about $964,000. Paulson & CO. Inc. increased its holdings in shares of Newmark Group by 133.5% in the fourth quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock valued at $32,880,000 after purchasing an additional 1,715,375 shares during the period. Finally, Brown Advisory Inc. acquired a new position in shares of Newmark Group in the fourth quarter valued at about $412,000. 58.42% of the stock is owned by institutional investors and hedge funds.

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.