Wolfe Research Downgrades Newmark Group, Inc. (NMRK) to Peerperform

Wolfe Research analyst Andrew Rosivach downgraded Newmark Group, Inc. (NASDAQ: NMRK) from Outperform to Peerperform.

The analyst comments: "NMRK is up ~24% since our upgrade, with flat consensus estimates. While it screens as our coverage's least expensive stock on as-reported earnings, note that the company does not expense stock comp in it adjusted earnings calculation. Despite impressive 22% adjusted EPS growth year-to-date, we forecast ~flat growth in 4Q24 due to tough comps from 4Q23's Signature
Bank loan sales success (Exhibit 3). Growth should resume in 2025, although we believe it will slightly lag peers due to share based compensation which requires repurchases to limit share count growth. High long-term rates raise transaction concerns (Exhibit 5), though credit spreads are tightening (Exhibit 6) and REIT conference commentary was constructive on deal flow"

For an analyst ratings summary and ratings history on Newmark Group, Inc. click here. For more ratings news on Newmark Group, Inc. click here.

Shares of Newmark Group, Inc. closed at $15.28 yesterday.

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