Raymond James Trims Newmark Group (NASDAQ:NMRK) Target Price to $10.00

Newmark Group (NASDAQ:NMRK) had its price target decreased by Raymond James from $14.00 to $10.00 in a report released on Wednesday, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the stock.

Several other equities analysts have also issued reports on the company. BidaskClub lowered Newmark Group from a sell rating to a strong sell rating in a research report on Friday, July 10th. Piper Sandler raised their price target on Newmark Group from $4.50 to $5.00 and gave the stock a neutral rating in a research report on Thursday, May 28th. Keefe, Bruyette & Woods lifted their price objective on Newmark Group from $4.00 to $4.50 and gave the stock a market perform rating in a research report on Friday, May 8th. Bank of America lowered Newmark Group from a buy rating to an underperform rating and set a $4.00 price objective on the stock. in a research report on Thursday, April 9th. Finally, ValuEngine lowered Newmark Group from a hold rating to a sell rating in a research report on Thursday, April 2nd. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $7.81.

Shares of NASDAQ NMRK opened at $4.07 on Wednesday. The stock’s 50-day moving average is $4.50 and its 200 day moving average is $6.39. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.29. Newmark Group has a 1-year low of $2.49 and a 1-year high of $13.85. The stock has a market cap of $725.38 million, a price-to-earnings ratio of 7.54, a P/E/G ratio of 0.33 and a beta of 1.74.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.14). Newmark Group had a return on equity of 41.44% and a net margin of 4.67%. The company had revenue of $483.93 million for the quarter, compared to the consensus estimate of $484.27 million. On average, analysts forecast that Newmark Group will post 1.25 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. EJF Capital LLC raised its stake in shares of Newmark Group by 21.0% in the first quarter. EJF Capital LLC now owns 3,088,781 shares of the company’s stock worth $13,127,000 after purchasing an additional 536,024 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Newmark Group by 28.3% in the fourth quarter. Geode Capital Management LLC now owns 2,819,702 shares of the company’s stock worth $37,938,000 after purchasing an additional 621,587 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Newmark Group by 33.6% in the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,358,190 shares of the company’s stock worth $10,022,000 after purchasing an additional 592,600 shares during the last quarter. Copeland Capital Management LLC purchased a new position in shares of Newmark Group in the first quarter worth $7,444,000. Finally, Nuveen Asset Management LLC raised its stake in shares of Newmark Group by 1.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,711,030 shares of the company’s stock worth $23,022,000 after purchasing an additional 30,340 shares during the last quarter. Hedge funds and other institutional investors own 58.01% of the company’s stock.

About Newmark Group

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.

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Analyst Recommendations for Newmark Group (NASDAQ:NMRK)

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