Cushman & Wakefield (NYSE:CWK) Shares Up 3.7% After Better-Than-Expected Earnings

Cushman & Wakefield plc (NYSE:CWK)’s share price rose 3.7% during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $9.52 and last traded at $9.35. Approximately 610,454 shares were traded during trading, a decline of 71% from the average daily volume of 2,112,005 shares. The stock had previously closed at $9.01.

The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.26 billion. Cushman & Wakefield had a return on equity of 12.62% and a net margin of 1.39%. Cushman & Wakefield’s revenue was up 4.6% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. UBS Group cut their price objective on Cushman & Wakefield from $14.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Morgan Stanley lowered their target price on Cushman & Wakefield from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group reduced their price objective on Cushman & Wakefield from $13.00 to $11.50 and set a “sell” rating for the company in a research note on Wednesday, March 19th. JPMorgan Chase & Co. lowered their price target on shares of Cushman & Wakefield from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Finally, Jefferies Financial Group lowered shares of Cushman & Wakefield from a “buy” rating to a “hold” rating and lowered their price target for the company from $18.00 to $14.00 in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Cushman & Wakefield currently has an average rating of “Hold” and an average target price of $12.93.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vestcor Inc lifted its holdings in shares of Cushman & Wakefield by 316.7% in the 4th quarter. Vestcor Inc now owns 70,529 shares of the company’s stock worth $923,000 after buying an additional 53,602 shares during the period. Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Cushman & Wakefield in the fourth quarter valued at about $1,003,000. JPMorgan Chase & Co. grew its holdings in shares of Cushman & Wakefield by 6.3% in the fourth quarter. JPMorgan Chase & Co. now owns 13,700,599 shares of the company’s stock valued at $179,204,000 after purchasing an additional 806,684 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Cushman & Wakefield in the fourth quarter valued at about $318,000. Finally, Channing Capital Management LLC purchased a new stake in shares of Cushman & Wakefield in the fourth quarter valued at about $61,732,000. Institutional investors own 95.56% of the company’s stock.

Cushman & Wakefield Trading Up 3.7 %

The company has a debt-to-equity ratio of 1.67, a current ratio of 1.15 and a quick ratio of 1.18. The company has a market cap of $2.15 billion, a PE ratio of 16.80 and a beta of 1.26. The company’s 50 day simple moving average is $10.01 and its two-hundred day simple moving average is $12.40.

Cushman & Wakefield Company Profile

Cushman & Wakefield Plc engages in the provision of commercial real estate services. It operates through the following geographical segments: Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). The Americas segment consists of operations located in the United States, Canada and key markets in Latin America.