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

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

The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Cushman & Wakefield had a net margin of 0.22% and a return on equity of 12.08%. Cushman & Wakefield’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.21 earnings per share.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CWK shares. Raymond James lifted their price objective on Cushman & Wakefield from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of Cushman & Wakefield from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.80.

Institutional Trading of Cushman & Wakefield

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Cushman & Wakefield by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 28,788,309 shares of the company’s stock valued at $301,126,000 after acquiring an additional 1,110,076 shares during the period. Victory Capital Management Inc. lifted its holdings in Cushman & Wakefield by 31.2% during the 2nd quarter. Victory Capital Management Inc. now owns 10,395,027 shares of the company’s stock worth $108,108,000 after buying an additional 2,469,831 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cushman & Wakefield by 23.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,173,171 shares of the company’s stock worth $105,802,000 after acquiring an additional 1,910,212 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Cushman & Wakefield by 12.7% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 6,208,780 shares of the company’s stock valued at $64,571,000 after acquiring an additional 697,890 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Cushman & Wakefield by 18.8% during the first quarter. Janus Henderson Group PLC now owns 4,400,751 shares of the company’s stock worth $46,032,000 after purchasing an additional 695,005 shares during the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Cushman & Wakefield Price Performance

The stock 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 quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.83. The stock has a fifty day moving average of $13.13 and a 200-day moving average of $11.93.

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.