Cushman & Wakefield (NYSE:CWK) Hits New 12-Month High on Earnings Beat

Cushman & Wakefield plc (NYSE:CWK) shares reached 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 traded. The stock had previously closed at $13.14.

The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several brokerages recently commented on CWK. JPMorgan Chase & Co. lifted 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 upped their price objective on shares of Cushman & Wakefield from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $12.80.

Hedge Funds Weigh In On Cushman & Wakefield

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

Cushman & Wakefield Price Performance

The company has a debt-to-equity ratio of 1.83, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 177.63 and a beta of 1.30. The company’s 50-day moving average is $13.09 and its 200-day moving average is $11.89.

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.