Cushman & Wakefield (NYSE:CWK) Sets New 52-Week High on Strong Earnings

Cushman & Wakefield plc (NYSE:CWK) shares hit a new 52-week high during mid-day trading 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 traded. The stock had previously closed at $13.14.

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

Analyst Upgrades and Downgrades

CWK has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of Cushman & Wakefield from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Raymond James raised their price target on Cushman & Wakefield from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.80.

Institutional Trading of Cushman & Wakefield

Several hedge funds have recently made changes to their positions in the company. Swiss National Bank raised its position in Cushman & Wakefield by 14.6% in the first quarter. Swiss National Bank now owns 359,000 shares of the company’s stock worth $3,755,000 after acquiring an additional 45,700 shares in the last quarter. Sei Investments Co. boosted its holdings in Cushman & Wakefield by 52.8% during the first quarter. Sei Investments Co. now owns 658,629 shares of the company’s stock worth $6,889,000 after buying an additional 227,519 shares in the last quarter. Algert Global LLC boosted its holdings in Cushman & Wakefield by 821.0% during the second quarter. Algert Global LLC now owns 698,944 shares of the company’s stock worth $7,269,000 after buying an additional 623,054 shares in the last quarter. American Century Companies Inc. grew its position in Cushman & Wakefield by 15.5% during the second quarter. American Century Companies Inc. now owns 327,018 shares of the company’s stock worth $3,401,000 after buying an additional 43,941 shares during the period. Finally, Natixis Advisors LLC increased its holdings in Cushman & Wakefield by 8.9% in the second quarter. Natixis Advisors LLC now owns 1,156,834 shares of the company’s stock valued at $12,031,000 after buying an additional 94,502 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cushman & Wakefield Stock Performance

The stock’s 50-day moving average price is $13.13 and its 200-day moving average price is $11.93. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 189.69 and a beta of 1.30. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.21 and a current ratio of 1.21.

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.