Goldman Sachs Maintains Newmark Sell Recommendation

Fintel reports that on May 9, 2023, Goldman Sachs maintained coverage of Newmark Group Inc – (NASDAQ:NMRK) with a Sell recommendation.

Analyst Price Forecast Suggests 62.04% Upside

As of April 24, 2023, the average one-year price target for Newmark Group Inc – is 8.73. The forecasts range from a low of 6.31 to a high of $10.50. The average price target represents an increase of 62.04% from its latest reported closing price of 5.39.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Newmark Group Inc – is 2,715MM, an increase of 6.55%. The projected annual non-GAAP EPS is 1.48.

Newmark Group Inc – Declares $0.03 Dividend

On May 4, 2023 the company declared a regular quarterly dividend of $0.03 per share ($0.12 annualized). Shareholders of record as of May 19, 2023 will receive the payment on May 26, 2023. Previously, the company paid $0.03 per share.

At the current share price of $5.39 / share, the stock’s dividend yield is 2.23%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.20%, the lowest has been 0.22%, and the highest has been 12.82%. The standard deviation of yields is 2.17 (n=236).

The current dividend yield is 0.01 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.29. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 2.00%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 454 funds or institutions reporting positions in Newmark Group Inc -. This is a decrease of 4 owner(s) or 0.87% in the last quarter. Average portfolio weight of all funds dedicated to NMRK is 0.08%, a decrease of 8.68%. Total shares owned by institutions decreased in the last three months by 1.18% to 108,760K shares. The put/call ratio of NMRK is 0.16, indicating a bullish outlook.

What are Other Shareholders Doing?

VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 7,040K shares representing 4.05% ownership of the company. In it’s prior filing, the firm reported owning 7,406K shares, representing a decrease of 5.19%. The firm decreased its portfolio allocation in NMRK by 8.89% over the last quarter.

Cardinal Capital Management holds 4,687K shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 4,846K shares, representing a decrease of 3.38%. The firm decreased its portfolio allocation in NMRK by 10.27% over the last quarter.

Empyrean Capital Partners holds 4,360K shares representing 2.51% ownership of the company. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,957K shares representing 2.28% ownership of the company. In it’s prior filing, the firm reported owning 4,322K shares, representing a decrease of 9.22%. The firm decreased its portfolio allocation in NMRK by 16.39% over the last quarter.

River Road Asset Management holds 3,817K shares representing 2.20% ownership of the company. In it’s prior filing, the firm reported owning 3,735K shares, representing an increase of 2.15%. The firm decreased its portfolio allocation in NMRK by 9.67% over the last quarter.

Newmark Group Background Information
(This description is provided by the company.)

Newmark Group, Inc., together with its subsidiaries (‘Newmark’), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Its integrated platform seamlessly powers every phase of owning or occupying a property. its services is tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. n 2019, Newmark generated revenues in excess of $2.2 billion.

See all Newmark Group Inc – regulatory filings.

This article originally appeared on Fintel

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