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 research report issued 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 topic of several other reports. ValuEngine downgraded shares of Newmark Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Wedbush cut their price objective on shares of Newmark Group from $20.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.50.

Shares of NMRK stock opened at $8.47 on Wednesday. Newmark Group has a one year low of $7.34 and a one year high of $15.86. The stock 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. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.51.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings data on Tuesday, February 12th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $591.66 million. The firm’s revenue for the quarter was up 37.1% compared to the same quarter last year. On average, analysts forecast that Newmark Group will post 1.63 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC boosted its holdings in shares of Newmark Group by 0.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 921,727 shares of the company’s stock valued at $10,314,000 after acquiring an additional 3,525 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Newmark Group by 37.5% during the 3rd quarter. Alliancebernstein L.P. now owns 24,200 shares of the company’s stock valued at $271,000 after acquiring an additional 6,600 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Newmark Group by 148.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,490 shares of the company’s stock valued at $128,000 after acquiring an additional 6,860 shares during the last quarter. United Services Automobile Association boosted its holdings in shares of Newmark Group by 5.8% during the 3rd quarter. United Services Automobile Association now owns 158,722 shares of the company’s stock valued at $1,776,000 after acquiring an additional 8,702 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Newmark Group by 24.9% during the 3rd quarter. Wells Fargo & Company MN now owns 53,558 shares of the company’s stock valued at $599,000 after acquiring an additional 10,679 shares during the last quarter. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: How is diluted EPS different from basic EPS?

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