Cushman & Wakefield (NYSE:CWK) Shares Up 3.7% on Strong Earnings

Cushman & Wakefield plc (NYSE:CWK - Get Free Report) shot up 3.7% during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $9.52 and last traded at $9.35. 610,454 shares traded hands during trading, a decline of 71% from the average session volume of 2,112,005 shares. The stock had previously closed at $9.01.

The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.07. Cushman & Wakefield had a net margin of 1.39% and a return on equity of 12.62%. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.26 billion. The business's revenue was up 4.6% on a year-over-year basis.

Wall Street Analysts Forecast Growth

CWK has been the subject of several research analyst reports. The Goldman Sachs Group cut their price objective on Cushman & Wakefield from $13.00 to $11.50 and set a "sell" rating for the company in a research report on Wednesday, March 19th. Morgan Stanley decreased their price objective on shares of Cushman & Wakefield from $15.00 to $14.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. UBS Group dropped their target price on shares of Cushman & Wakefield from $14.00 to $9.00 and set a "neutral" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. lowered their price target on Cushman & Wakefield from $17.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Citigroup decreased their target price on Cushman & Wakefield from $16.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Cushman & Wakefield presently has a consensus rating of "Hold" and an average target price of $12.93.

Institutional Investors Weigh In On Cushman & Wakefield

A number of large investors have recently bought and sold shares of CWK. Vestcor Inc boosted its stake in shares of Cushman & Wakefield by 316.7% during the fourth quarter. Vestcor Inc now owns 70,529 shares of the company's stock valued at $923,000 after acquiring an additional 53,602 shares during the last quarter. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Cushman & Wakefield during the fourth quarter worth about $1,003,000. JPMorgan Chase & Co. raised its position in shares of Cushman & Wakefield by 6.3% in the fourth quarter. JPMorgan Chase & Co. now owns 13,700,599 shares of the company's stock valued at $179,204,000 after buying an additional 806,684 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Cushman & Wakefield during the fourth quarter valued at approximately $318,000. Finally, Channing Capital Management LLC acquired a new stake in Cushman & Wakefield during the fourth quarter worth approximately $61,732,000. Institutional investors and hedge funds own 95.56% of the company's stock.

Cushman & Wakefield Price Performance

The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 18.33 and a beta of 1.37. The company has a fifty day simple moving average of $9.83 and a two-hundred day simple moving average of $12.32. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.18 and a current ratio of 1.15.

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.