Cushman & Wakefield (NYSE:CWK) Posts Earnings Results, Beats Expectations By $0.08 EPS

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) released its quarterly earnings data on Tuesday. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.08, Zacks reports. Cushman & Wakefield had a return on equity of 13.50% and a net margin of 1.70%. During the same quarter 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 Up 6.4%

CWK stock traded up $0.79 during mid-day trading on Tuesday, hitting $13.11. 2,440,086 shares of the company were exchanged, compared to its average volume of 2,039,070. The company has a market capitalization of $3.03 billion, a PE ratio of 19.08 and a beta of 1.50. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.64. Cushman & Wakefield has a twelve month low of $7.64 and a twelve month high of $16.11. The firm has a fifty day simple moving average of $11.09 and a 200 day simple moving average of $10.93.

Analysts Set New Price Targets

A number of research firms have issued reports on CWK. Citizens Jmp began coverage on Cushman & Wakefield in a research report on Monday, July 21st. They set a "strong-buy" rating and a $15.00 price target for the company. UBS Group boosted their price target on Cushman & Wakefield from $9.00 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. cut their target price on shares of Cushman & Wakefield from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley set a $14.50 target price on shares of Cushman & Wakefield and gave the company an "overweight" rating in a research note on Thursday, June 12th. Finally, Wall Street Zen downgraded shares of Cushman & Wakefield from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $13.50.

Institutional Inflows and Outflows

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

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.

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