Cushman & Wakefield (NYSE:CWK) Sets New 12-Month High Following Earnings Beat

Cushman & Wakefield plc (NYSE:CWK)’s stock price hit a new 52-week high on Tuesday following a better than expected earnings announcement. The stock traded as high as $14.44 and last traded at $14.14, with a volume of 364813 shares changing hands. The stock had previously closed at $13.14.

The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Cushman & Wakefield had a return on equity of 12.08% and a net margin of 0.22%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CWK. Raymond James upped their price objective on Cushman & Wakefield from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Cushman & Wakefield from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CWK. Blue Trust Inc. boosted its stake in shares of Cushman & Wakefield by 137.5% in the third quarter. Blue Trust Inc. now owns 3,501 shares of the company’s stock worth $48,000 after buying an additional 2,027 shares during the last quarter. GAMMA Investing LLC lifted its stake in Cushman & Wakefield by 45.8% in the 3rd quarter. GAMMA Investing LLC now owns 5,186 shares of the company’s stock worth $71,000 after purchasing an additional 1,629 shares in the last quarter. CWM LLC boosted its holdings in shares of Cushman & Wakefield by 61.4% during the 2nd quarter. CWM LLC now owns 5,468 shares of the company’s stock worth $57,000 after purchasing an additional 2,080 shares during the last quarter. Profund Advisors LLC purchased a new stake in shares of Cushman & Wakefield in the second quarter valued at approximately $105,000. Finally, nVerses Capital LLC acquired a new stake in shares of Cushman & Wakefield in the second quarter valued at approximately $116,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cushman & Wakefield Stock Performance

The stock has a 50-day moving average of $13.09 and a 200 day moving average of $11.89. The stock has a market cap of $3.31 billion, a PE ratio of 177.63 and a beta of 1.30. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.83.

Cushman & Wakefield Company Profile

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.