Newmark Group (NASDAQ:NMRK) Price target cut to $18.00 by Raymond James analysts

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Newmark Group (NASDAQ:NMRK – Get Rating) saw its price target lowered by stock analysts Raymond James from $21.00 to $18.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price target indicates a potential upside of 37.30% from the current stock price.

Other analysts have also published research reports on the stock. Goldman Sachs Group began covering Newmark Group shares in a research note on Tuesday, April 5. They set a “neutral” rating and a target price of $18.00 for the company. Piper Sandler downgraded Newmark Group from an “overweight” rating to a “neutral” rating and lowered its price target for the stock from $20.00 to $15.00 in a Monday, April 18 report. Wolfe Research downgraded Newmark Group from an “outperform” rating to a “peer performance” rating and lowered its price target for the company from $22.00 to $17.00 in a Thursday 10 report. March. Finally, Zacks Investment Research upgraded Newmark Group from a “buy” to a “hold” rating in a Thursday, April 14 research report. Four equity research analysts gave the stock a hold rating and one issued a buy rating for the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.80.

The NASDAQ NMRK opened at $13.11 on Tuesday. Newmark Group has a 12-month low of $10.50 and a 12-month high of $19.10. The company has a debt ratio of 0.41, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $2.48 billion, a P/E ratio of 3.58, a growth price/earnings ratio of 0.73 and a beta of 1.71. The company has a fifty-day moving average of $15.61.

Newmark Group (NASDAQ:NMRK – Get Rating) last reported quarterly earnings data on Friday, February 11. The company reported EPS of $0.65 for the quarter, beating Thomson Reuters consensus estimate of $0.55 by $0.10. The company posted revenue of $984.50 million in the quarter, compared to $876.23 million expected by analysts. Newmark Group had a net margin of 25.83% and a return on equity of 31.11%. The company’s revenue for the quarter increased by 63.7% compared to the same quarter last year. In the same quarter last year, the company earned earnings per share of $0.30. As a group, stock analysts expect Newmark Group to post earnings per share of 1.85 for the current year.

In related news, Chairman Howard W. Lutnick acquired 50,000 shares of Newmark Group shares in a transaction that took place on Monday, February 14. The stock was purchased at an average price of $16.53 per share, with a total value of $826,500.00. The acquisition was disclosed in a document filed with the SEC, accessible via this link. Additionally, Chairman Howard W. Lutnick purchased 9,800 shares of the company in a transaction dated Wednesday, February 23. The shares were purchased at an average price of $16.75 per share, for a total transaction of $164,150.00. Disclosure of this purchase can be found here. Over the past three months, insiders have acquired 286,800 shares of the company worth $4,931,370. Insiders hold 27.10% of the shares of the company.

Several hedge funds have recently bought and sold shares of NMRK. Robeco Institutional Asset Management BV bought a new position in Newmark Group in Q1, valued at $38,000. Strs Ohio increased its position in Newmark Group by 15.0% during the first quarter. Strs Ohio now owns 39,900 shares of the company worth $635,000 after purchasing an additional 5,200 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in Newmark Group during Q1 worth $2,415,000. HMS Capital Management LLC purchased a new stake in shares of Newmark Group in the first quarter worth approximately $902,000. Finally, AE Wealth Management LLC acquired a new stake in shares of Newmark Group in the first quarter valued at approximately $653,000. 50.38% of the shares are currently held by institutional investors and hedge funds.

Newmark Group Company Profile (Get an evaluation)

Newmark Group, Inc provides commercial real estate services in the United States and internationally. The Company’s services and products for investors/owners include capital markets, such as investment, debt and structured finance, and loan sales; agency leasing, property management, appraisal and consulting; and commercial real estate due diligence consulting and advisory services, as well as government-sponsored business lending, loan servicing, mortgage brokerage and fundraising services.

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