Newmark Group (NMRK) Rating Reiterated by Wedbush

Newmark Group (NASDAQ:NMRK)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research report issued to clients and investors on Monday. They presently have a $20.00 price objective on the stock. Wedbush’s price objective points to a potential upside of 33.33% from the company’s current price.

A number of other brokerages have also recently commented on NMRK. Bank of America initiated coverage on shares of Newmark Group in a report on Tuesday, January 9th. They issued a “buy” rating and a $20.00 target price for the company. Raymond James Financial initiated coverage on shares of Newmark Group in a report on Tuesday, February 6th. They issued an “outperform” rating and a $21.00 target price for the company. Keefe, Bruyette & Woods initiated coverage on shares of Newmark Group in a report on Tuesday, January 9th. They issued a “market perform” rating and a $17.00 target price for the company. Goldman Sachs Group initiated coverage on shares of Newmark Group in a report on Tuesday, January 9th. They issued a “buy” rating and a $24.00 target price for the company. Finally, Sandler O’Neill initiated coverage on shares of Newmark Group in a report on Tuesday, January 9th. They issued a “buy” rating and a $18.50 target price for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $20.08.

Shares of Newmark Group (NASDAQ NMRK) opened at $15.00 on Monday. Newmark Group has a 1 year low of $13.72 and a 1 year high of $16.98.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Friday, February 9th. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $460.60 million during the quarter, compared to analysts’ expectations of $428.10 million. During the same period last year, the firm earned $0.31 earnings per share. research analysts expect that Newmark Group will post 1.49 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN purchased a new position in Newmark Group during the fourth quarter worth about $153,000. Emerald Advisers Inc. PA purchased a new position in Newmark Group during the fourth quarter worth about $1,368,000. Strycker View Capital LLC purchased a new position in Newmark Group during the fourth quarter worth about $4,543,000. Monashee Investment Management LLC purchased a new position in Newmark Group during the fourth quarter worth about $7,950,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Newmark Group during the fourth quarter worth about $20,723,000. 0.43% of the stock is owned by hedge funds and other institutional investors.

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Newmark Group Company Profile

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.

Analyst Recommendations for Newmark Group (NASDAQ:NMRK)

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