Newmark Group Inc. (NASDAQ:NMRK) saw a downside of -0.14% to close Friday at $6.89 after subtracting -$0.01 on the day. The 5-day average trading volume is 713,740 shares of the company’s common stock. It has gained $7.62 in the past week and touched a new high 1 time within the past 5 days. An average of 888,725 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 789,032.
NMRK’s 1-month performance is -1.43% or -$0.29 on its low of $6.34 reached on 07/28/23. The company’s shares have touched a 52-week low of $5.07 and high of $11.35, with the stock’s rally to the 52-week high happening on 02/02/23. YTD, NMRK has lost -13.55% or -$1.08 and has reached a new high 7 times. However, the current price is down -39.27% from the 52-week high price.
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Valuation Metrics
NMRK stock has a beta of 1.73. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.50 while the price-to-book (PB) in the most recent quarter is 1.01.
Newmark Group Inc.’s quick ratio for the period ended June 30 was 0.80, with the current ratio over the same period at 0.80. As well, the company’s long term debt to equity for the quarter ending June 30 was 0.19, while the total debt to equity was 1.43. In terms of profitability, the gross margin trailing 12 months is 98.80%. The firm’s gross profit as reported stood at $185.57 million against revenue of $2.71 billion.
Earnings Surprise
For the quarterly period ending June 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -654.59% to $6.43 million, while revenue of -$10.35 million was 260.96% off the previous quarter. Analysts expected NMRK to announce $0.21 per share in earnings in its latest quarter, but it posted $0.18, representing a -14.30% surprise. EBITDA for the quarter stood at more than $69.58 million. Shareholders hold equity totaling $173.52 million.
Let’s look briefly at Newmark Group Inc. (NMRK) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 18 August was 33.40% to suggest the stock is trending Neutral, with historical volatility in this time period at 20.48%.
The stock’s 5-day moving average is $7.09, reflecting a -10.05% or -$0.77 change from its current price. NMRK is currently trading +0.73% above its 20-day SMA, +6.00% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +3.14% and SMA200 by-15.87%.
Stochastic %K and %D was 28.08% and 41.25% and the average true range (ATR) pointed at 0.27. The RSI (14) points at 42.94%, while the 14-day stochastic is at 22.73% with the period’s ATR at 0.28. The stock’s 9-day MACD Oscillator is pointing at -0.47 and -0.53 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Newmark Group Inc. (NASDAQ: NMRK), Goldman downgraded it to a Sell rating. They previously had a Neutral rating on the stock. Analysts offering their rating for NMRK stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate NMRK as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 0 have offered a “buy” rating.
What is NMRK’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $6.50 and a high of $8.00, with their median price target at $7.50. Looking at these predictions, the average price target given by analysts is for Newmark Group Inc. (NMRK) stock is $7.33.
