Cushman & Wakefield (NYSE:CWK) Releases Earnings Results, Beats Expectations By $0.09 EPS

Cushman & Wakefield (NYSE:CWKGet Rating) released its quarterly earnings results on Thursday. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09, Briefing.com reports. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Cushman & Wakefield had a return on equity of 27.90% and a net margin of 3.19%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS.

Cushman & Wakefield Price Performance

NYSE:CWK traded down $0.73 during trading hours on Friday, reaching $15.88. 970,505 shares of the company traded hands, compared to its average volume of 964,151. The firm’s 50-day moving average is $15.96 and its 200-day moving average is $18.56. The stock has a market cap of $3.58 billion, a P/E ratio of 11.59 and a beta of 1.40. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.15 and a quick ratio of 1.15. Cushman & Wakefield has a 1-year low of $13.90 and a 1-year high of $23.54.

Insider Buying and Selling at Cushman & Wakefield

In other Cushman & Wakefield news, major shareholder Drone Holding Gp I. Ltd Pagac sold 2,156,391 shares of the stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $18.39, for a total transaction of $39,656,030.49. Following the transaction, the insider now owns 25,717,475 shares of the company’s stock, valued at approximately $472,944,365.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Cushman & Wakefield news, insider Nathaniel Robinson sold 15,231 shares of the stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $17.58, for a total transaction of $267,760.98. Following the transaction, the insider now owns 22,580 shares of the company’s stock, valued at approximately $396,956.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Drone Holding Gp I. Ltd Pagac sold 2,156,391 shares of the stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $18.39, for a total value of $39,656,030.49. Following the transaction, the insider now directly owns 25,717,475 shares in the company, valued at approximately $472,944,365.25. The disclosure for this sale can be found here. 1.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. lifted its stake in shares of Cushman & Wakefield by 3,128.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,292 shares of the company’s stock worth $46,000 after purchasing an additional 2,221 shares during the period. US Bancorp DE raised its position in shares of Cushman & Wakefield by 1,215.8% in the 1st quarter. US Bancorp DE now owns 8,237 shares of the company’s stock worth $169,000 after buying an additional 7,611 shares during the period. Mariner LLC purchased a new position in shares of Cushman & Wakefield in the 1st quarter worth $268,000. Acadian Asset Management LLC raised its position in shares of Cushman & Wakefield by 199.9% in the 1st quarter. Acadian Asset Management LLC now owns 13,220 shares of the company’s stock worth $271,000 after buying an additional 8,812 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of Cushman & Wakefield in the 1st quarter worth $347,000. Hedge funds and other institutional investors own 82.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CWK. Morgan Stanley lowered their price target on Cushman & Wakefield from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, July 6th. Raymond James lowered their price target on Cushman & Wakefield from $38.00 to $32.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 26th. Finally, Citigroup lowered their price target on Cushman & Wakefield from $23.00 to $21.00 in a report on Thursday, April 21st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cushman & Wakefield has a consensus rating of “Buy” and an average target price of $24.50.

About Cushman & Wakefield

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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.

See Also

Earnings History for Cushman & Wakefield (NYSE:CWK)

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