Piper Sandler Issues Pessimistic Forecast for Newmark Group (NASDAQ:NMRK) Stock Price

Newmark Group (NASDAQ:NMRK) had its target price lowered by analysts at Piper Sandler from $19.00 to $16.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 44.93% from the stock’s previous close.

NMRK has been the subject of several other research reports. Keefe, Bruyette & Woods decreased their price objective on Newmark Group from $14.50 to $14.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. The Goldman Sachs Group reduced their price target on Newmark Group from $19.50 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th.

Newmark Group Stock Down 0.7 %

Shares of Newmark Group stock opened at $11.04 on Monday. The firm has a market cap of $1.99 billion, a PE ratio of 31.54 and a beta of 1.99. The business’s 50 day simple moving average is $11.74 and its 200 day simple moving average is $13.35. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. Newmark Group has a 52-week low of $9.64 and a 52-week high of $16.10.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Newmark Group had a net margin of 2.22% and a return on equity of 20.74%. The company had revenue of $665.49 million for the quarter, compared to the consensus estimate of $609.28 million. During the same period last year, the company earned $0.15 earnings per share. The firm’s revenue was up 21.8% compared to the same quarter last year. On average, analysts predict that Newmark Group will post 1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newmark Group

Institutional investors and hedge funds have recently modified their holdings of the company. Financial Management Professionals Inc. bought a new position in Newmark Group during the first quarter worth about $26,000. Sterling Capital Management LLC lifted its position in shares of Newmark Group by 813.9% in the fourth quarter. Sterling Capital Management LLC now owns 4,149 shares of the company’s stock valued at $53,000 after buying an additional 3,695 shares during the last quarter. KBC Group NV acquired a new stake in shares of Newmark Group in the first quarter valued at approximately $78,000. CWM LLC boosted its stake in shares of Newmark Group by 63.8% during the 1st quarter. CWM LLC now owns 7,693 shares of the company’s stock worth $94,000 after acquiring an additional 2,996 shares during the period. Finally, Assetmark Inc. increased its holdings in shares of Newmark Group by 43.5% during the 4th quarter. Assetmark Inc. now owns 8,585 shares of the company’s stock worth $110,000 after acquiring an additional 2,602 shares during the last quarter. 58.42% of the stock is owned by institutional investors.

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.