Cushman & Wakefield (NYSE:CWK) Announces Quarterly Earnings Results

Key Points

• Cushman & Wakefield reported earnings of $0.30 per share, exceeding analysts' expectations by $0.08, with a year-over-year revenue increase of 7.2%.
• The company's stock price rose 6.4% to $13.11 following the earnings announcement, with over 2.4 million shares traded.
• Research firms have varied outlooks on the stock, with targets ranging from $12 to $15, and a consensus rating of "Hold" among analysts.

Cushman & Wakefield (NYSE:CWK - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.08, Zacks reports. Cushman & Wakefield had a return on equity of 14.33% and a net margin of 2.11%. The firm had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $2.38 billion. During the same period in the prior year, the business posted $0.20 earnings per share. The company's revenue was up 7.2% on a year-over-year basis.

Cushman & Wakefield Stock Performance

Shares of CWK stock traded up $0.30 during trading hours on Friday, reaching $13.69. 2,984,893 shares of the company traded hands, compared to its average volume of 2,451,785. Cushman & Wakefield has a 12-month low of $7.64 and a 12-month high of $16.11. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.13 and a quick ratio of 1.18. The company has a market cap of $3.17 billion, a P/E ratio of 15.56 and a beta of 1.50. The firm has a 50-day moving average price of $11.37 and a 200 day moving average price of $10.95.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Focus Partners Wealth bought a new stake in Cushman & Wakefield in the 1st quarter worth approximately $218,000. Jane Street Group LLC increased its stake in Cushman & Wakefield by 1,821.3% in the 1st quarter. Jane Street Group LLC now owns 279,397 shares of the company's stock worth $2,855,000 after acquiring an additional 264,855 shares during the last quarter. United Services Automobile Association bought a new stake in Cushman & Wakefield in the 1st quarter worth approximately $139,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cushman & Wakefield by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 136,261 shares of the company's stock valued at $1,393,000 after purchasing an additional 5,929 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Cushman & Wakefield by 39.6% during the 1st quarter. Royal Bank of Canada now owns 98,508 shares of the company's stock valued at $1,007,000 after purchasing an additional 27,940 shares during the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CWK. JMP Securities boosted their price objective on Cushman & Wakefield from $15.00 to $16.00 and gave the stock a "market outperform" rating in a report on Wednesday. UBS Group boosted their price objective on Cushman & Wakefield from $9.00 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Citizens Jmp began coverage on Cushman & Wakefield in a report on Monday, July 21st. They set a "strong-buy" rating and a $15.00 price objective for the company. Wall Street Zen raised Cushman & Wakefield from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, The Goldman Sachs Group raised Cushman & Wakefield from a "sell" rating to a "buy" rating and set a $17.50 price objective for the company in a report on Friday. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cushman & Wakefield has an average rating of "Moderate Buy" and a consensus price target of $14.38.

Cushman & Wakefield Company Profile

Cushman & Wakefield Plc engages in the provision of commercial real estate services. It operates through the following geographical segments: Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). The Americas segment consists of operations located in the United States, Canada and key markets in Latin America.