The Goldman Sachs Group Issues Positive Forecast for Cushman & Wakefield (NYSE:CWK) Stock Price

Key Points

• Goldman Sachs raised its price target on Cushman & Wakefield to $19 from $17 and maintained a Buy rating, implying 38.43% potential upside from the previous close.
• Analyst views are mixed: the stock has an average Hold rating and a consensus price target of $16.86, with five Buy, four Hold, and one Sell ratings.
• Cushman & Wakefield slightly beat quarterly earnings and revenue estimates, reporting EPS of $0.37 and revenue of $2.81 billion; revenue grew 7.7% year over year.

Cushman & Wakefield (NYSE:CWK - Get Free Report) had its target price hoisted by analysts at The Goldman Sachs Group from $17.00 to $19.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's target price would indicate a potential upside of 38.43% from the company's previous close.

Several other research analysts also recently commented on the stock. UBS Group cut their price target on shares of Cushman & Wakefield from $17.00 to $15.00 and set a "neutral" rating for the company in a report on Monday, August 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cushman & Wakefield in a report on Tuesday, November 3rd. Citigroup reiterated a "market outperform" rating on shares of Cushman & Wakefield in a research report on Thursday, October 22nd. Morgan Stanley dropped their price objective on Cushman & Wakefield from $19.00 to $15.00 and set an "overweight" rating for the company in a research note on Thursday, October 22nd. Finally, Zacks Research cut Cushman & Wakefield from a "hold" rating to a "strong sell" rating in a research report on Friday, October 16th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $16.86.

Cushman & Wakefield Price Performance

CWK stock traded down $0.06 during mid-day trading on Thursday, reaching $13.72. 224,711 shares of the company traded hands, compared to its average volume of 2,171,383. The company has a fifty day moving average price of $12.54 and a 200-day moving average price of $13.31. Cushman & Wakefield has a 52-week low of $10.88 and a 52-week high of $17.40. The company has a market capitalization of $3.22 billion, a P/E ratio of 47.40 and a beta of 1.53. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.06 and a quick ratio of 1.06.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.78 billion. Cushman & Wakefield had a net margin of 0.63% and a return on equity of 16.60%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share. As a group, analysts anticipate that Cushman & Wakefield will post 1.47 earnings per share for the current year.

Insider Transactions at Cushman & Wakefield

In related news, insider Nathaniel Robinson sold 12,500 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $13.39, for a total value of $167,375.00. Following the transaction, the insider owned 58,376 shares of the company's stock, valued at $781,654.64. This represents a 17.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.74% of the company's stock.

Institutional Investors Weigh In On Cushman & Wakefield

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Cushman & Wakefield by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,248,848 shares of the company's stock valued at $162,424,000 after purchasing an additional 397,892 shares during the last quarter. Eurizon Capital SGR S.p.A. lifted its position in Cushman & Wakefield by 18.4% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 8,003,931 shares of the company's stock worth $94,450,000 after buying an additional 1,242,632 shares during the last quarter. Bank of America Corp DE lifted its position in Cushman & Wakefield by 13.2% in the 1st quarter. Bank of America Corp DE now owns 2,126,440 shares of the company's stock worth $26,070,000 after buying an additional 247,475 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Cushman & Wakefield by 9.3% in the first quarter. Janus Henderson Group PLC now owns 1,786,205 shares of the company's stock worth $21,900,000 after buying an additional 152,647 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Cushman & Wakefield by 4.9% in the first quarter. Principal Financial Group Inc. now owns 1,426,178 shares of the company's stock worth $17,485,000 after buying an additional 66,382 shares in the last quarter. Institutional investors own 95.56% of the company's stock.

About Cushman & Wakefield

Cushman & Wakefield NYSE: CWK is a global commercial real estate services firm that advises property owners, occupiers, investors and developers. Its services include leasing and sales brokerage, capital markets, property and facilities management, valuation, project management and real estate consulting. The company serves clients across the Americas, Europe, the Middle East and Africa, and Asia-Pacific. Its history traces back to Cushman & Wakefield's founding in 1917, and the current company took shape in 2015 following the combination of Cushman & Wakefield and DTZ.

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