Wedbush reiterated their outperform rating on shares of Newmark Group (NASDAQ:NMRK) in a report issued on Monday. The brokerage currently has a $20.00 target price on the stock. Wedbush also issued estimates for Newmark Group’s Q1 2018 earnings at $0.31 EPS, Q2 2018 earnings at $0.48 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.30 EPS, FY2018 earnings at $1.51 EPS, Q1 2019 earnings at $0.32 EPS, Q2 2019 earnings at $0.34 EPS, Q3 2019 earnings at $0.72 EPS, Q4 2019 earnings at $0.43 EPS and FY2019 earnings at $1.80 EPS.

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

Newmark Group (NASDAQ:NMRK) opened at $15.15 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 issued its quarterly earnings results on Friday, February 9th. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $460.60 million during the quarter, compared to analysts’ expectations of $428.10 million. During the same period in the prior year, the company posted $0.31 EPS. research analysts expect that Newmark Group will post 1.5 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Cardinal Capital Management LLC CT bought a new position in Newmark Group during the 4th quarter worth approximately $25,982,000. Zimmer Partners LP bought a new position in Newmark Group during the 4th quarter worth approximately $25,440,000. The Manufacturers Life Insurance Company bought a new position in Newmark Group during the 4th quarter worth approximately $20,723,000. Gratia Capital LLC bought a new position in Newmark Group during the 4th quarter worth approximately $20,652,000. Finally, Long Pond Capital LP bought a new position in Newmark Group during the 4th quarter worth approximately $15,900,000. 0.43% of the stock is currently owned by institutional investors.

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About Newmark Group

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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