Cushman & Wakefield PLC (NYSE:CWK) Receives $22.67 Average Target Price from Brokerages

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Shares of Cushman & Wakefield PLC (NYSE:CWK) have been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $22.67.

A number of research analysts have recently commented on CWK shares. Barclays set a $23.00 price target on Cushman & Wakefield and gave the stock a “buy” rating in a report on Tuesday, October 8th. ValuEngine lowered shares of Cushman & Wakefield from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Bank of America began coverage on Cushman & Wakefield in a report on Friday, October 18th. They set a “neutral” rating and a $21.00 price objective on the stock. Zacks Investment Research lowered Cushman & Wakefield from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. increased their target price on Cushman & Wakefield from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, September 12th.

In other news, CEO W Brett White sold 41,770 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $17.92, for a total value of $748,518.40. Also, major shareholder Tpg Asia Advisors Vi, Inc. sold 4,321,011 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $18.18, for a total value of $78,555,979.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,450,986 shares of company stock valued at $80,910,369. Company insiders own 0.85% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CWK. TPG Group Holdings SBS Advisors Inc. acquired a new position in shares of Cushman & Wakefield during the third quarter valued at $964,133,000. Quantum Capital Management bought a new position in shares of Cushman & Wakefield during the third quarter valued at about $166,000. California State Teachers Retirement System boosted its holdings in Cushman & Wakefield by 1.2% during the third quarter. California State Teachers Retirement System now owns 159,692 shares of the company’s stock worth $2,959,000 after purchasing an additional 1,907 shares during the last quarter. State Street Corp boosted its holdings in Cushman & Wakefield by 11.7% during the third quarter. State Street Corp now owns 2,067,189 shares of the company’s stock worth $38,305,000 after purchasing an additional 217,272 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Cushman & Wakefield by 10.0% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,433,110 shares of the company’s stock worth $45,085,000 after purchasing an additional 222,160 shares during the last quarter. 68.24% of the stock is owned by hedge funds and other institutional investors.

Shares of CWK stock opened at $19.42 on Friday. The stock’s 50 day simple moving average is $18.90 and its 200 day simple moving average is $18.18. Cushman & Wakefield has a twelve month low of $13.25 and a twelve month high of $20.62. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of -17.82, a PEG ratio of 4.18 and a beta of 1.98.

Cushman & Wakefield (NYSE:CWK) last announced its earnings results on Tuesday, November 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Cushman & Wakefield had a negative return on equity of 1.60% and a negative net margin of 0.24%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the company earned $0.45 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts forecast that Cushman & Wakefield will post 0.47 EPS for the current fiscal year.

Cushman & Wakefield Company Profile

Cushman & Wakefield plc provides commercial real estate services under the Cushman & Wakefield brand in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It offers integrated facilities management, project and development, portfolio administration, transaction management, and strategic consulting services; property management services, including client accounting, engineering and operations, lease compliance administration, project and development, and sustainability services; and janitorial, maintenance, critical environment management, landscaping, and office services.

Read More: Buy Rating

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