Newmark Group (NMRK) Rating Lowered to Sell at Zacks Investment Research

Newmark Group (NASDAQ:NMRK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Newmark Group, Inc. operates as a commercial real estate advisory firm. The Company offers services and products which includes investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory and loan servicing. Newmark Group, Inc. is based in New York, United States. “

NMRK has been the subject of a number of other reports. ValuEngine lowered shares of Newmark Group from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Wedbush lowered their price target on shares of Newmark Group from $20.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, February 28th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $14.50.

NASDAQ:NMRK opened at $8.47 on Wednesday. Newmark Group has a 52 week low of $7.34 and a 52 week high of $15.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $1.52 billion, a P/E ratio of 5.57, a PEG ratio of 0.53 and a beta of 1.14.

Newmark Group (NASDAQ:NMRK) last posted its quarterly earnings results on Tuesday, February 12th. The company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. Newmark Group had a net margin of 5.06% and a return on equity of 47.34%. The company had revenue of $631.70 million during the quarter, compared to analyst estimates of $591.66 million. Newmark Group’s quarterly revenue was up 37.1% compared to the same quarter last year. Equities research analysts expect that Newmark Group will post 1.63 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of NMRK. Neuberger Berman Group LLC raised its holdings in Newmark Group by 0.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 921,727 shares of the company’s stock worth $10,314,000 after purchasing an additional 3,525 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Newmark Group by 37.5% in the 3rd quarter. Alliancebernstein L.P. now owns 24,200 shares of the company’s stock worth $271,000 after purchasing an additional 6,600 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Newmark Group by 148.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,490 shares of the company’s stock worth $128,000 after purchasing an additional 6,860 shares in the last quarter. United Services Automobile Association raised its holdings in Newmark Group by 5.8% in the 3rd quarter. United Services Automobile Association now owns 158,722 shares of the company’s stock worth $1,776,000 after purchasing an additional 8,702 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Newmark Group by 24.9% in the 3rd quarter. Wells Fargo & Company MN now owns 53,558 shares of the company’s stock worth $599,000 after purchasing an additional 10,679 shares in the last quarter. Institutional investors own 56.90% of the company’s stock.

Newmark Group Company Profile

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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