William Blair Comments on Cushman & Wakefield plc's FY2024 Earnings (NYSE:CWK)

Cushman & Wakefield plc (NYSE:CWK - Free Report) - Equities researchers at William Blair dropped their FY2024 earnings estimates for shares of Cushman & Wakefield in a note issued to investors on Tuesday, April 30th. William Blair analyst S. Sheldon now expects that the company will post earnings per share of $0.94 for the year, down from their previous forecast of $1.04. The consensus estimate for Cushman & Wakefield's current full-year earnings is $0.99 per share. William Blair also issued estimates for Cushman & Wakefield's Q1 2025 earnings at $0.07 EPS, Q2 2025 earnings at $0.22 EPS, Q3 2025 earnings at $0.32 EPS and FY2025 earnings at $1.30 EPS.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.06. Cushman & Wakefield had a net margin of 0.13% and a return on equity of 12.41%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm earned $0.46 EPS. Cushman & Wakefield's quarterly revenue was down 3.6% compared to the same quarter last year.

Several other analysts also recently commented on CWK. Raymond James downgraded shares of Cushman & Wakefield from a "strong-buy" rating to an "outperform" rating and set a $13.00 target price on the stock. in a report on Wednesday, April 3rd. Wolfe Research restated a "peer perform" rating on shares of Cushman & Wakefield in a report on Tuesday, April 9th. Finally, Jefferies Financial Group initiated coverage on shares of Cushman & Wakefield in a report on Wednesday, April 10th. They set a "buy" rating and a $13.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $11.08.

Cushman & Wakefield Stock Down 0.4 %

CWK stock traded down $0.04 during mid-day trading on Wednesday, hitting $9.61. 1,981,478 shares of the company were exchanged, compared to its average volume of 2,073,700. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $2.18 billion, a P/E ratio of 240.25 and a beta of 1.34. The firm's 50 day simple moving average is $9.89 and its 200 day simple moving average is $9.50. Cushman & Wakefield has a 1-year low of $6.24 and a 1-year high of $11.76.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Peregrine Capital Management LLC raised its stake in Cushman & Wakefield by 37.8% during the first quarter. Peregrine Capital Management LLC now owns 721,597 shares of the company's stock worth $7,548,000 after acquiring an additional 197,965 shares in the last quarter. New York State Teachers Retirement System raised its stake in Cushman & Wakefield by 25.4% during the first quarter. New York State Teachers Retirement System now owns 78,555 shares of the company's stock worth $822,000 after acquiring an additional 15,889 shares in the last quarter. WCM Investment Management LLC raised its stake in Cushman & Wakefield by 28.4% during the first quarter. WCM Investment Management LLC now owns 2,459,173 shares of the company's stock worth $25,723,000 after acquiring an additional 543,308 shares in the last quarter. Tyche Wealth Partners LLC acquired a new position in Cushman & Wakefield during the first quarter worth about $155,000. Finally, Summit Trail Advisors LLC raised its stake in Cushman & Wakefield by 98.0% during the first quarter. Summit Trail Advisors LLC now owns 19,980 shares of the company's stock worth $209,000 after acquiring an additional 9,891 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Tpg Gp A, Llc sold 7,734,954 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $9.74, for a total value of $75,338,451.96. Following the completion of the sale, the insider now owns 17,098,001 shares of the company's stock, valued at $166,534,529.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Nathaniel Robinson sold 40,000 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $9.99, for a total value of $399,600.00. Following the completion of the transaction, the insider now owns 40,427 shares of the company's stock, valued at $403,865.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Tpg Gp A, Llc sold 7,734,954 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $9.74, for a total value of $75,338,451.96. Following the completion of the transaction, the insider now directly owns 17,098,001 shares of the company's stock, valued at approximately $166,534,529.74. The disclosure for this sale can be found here. Company insiders own 1.01% of the company's stock.

About Cushman & Wakefield

Cushman & Wakefield plc, together with its subsidiaries, provides commercial real estate services under the Cushman & Wakefield brand in the United States, Australia, the United Kingdom, and internationally. The company operates through Americas; Europe, Middle East and Africa; and Asia Pacific segments.