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

Cushman & Wakefield plc (NYSE:CWK - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. 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 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The business's quarterly revenue was up 2.5% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CWK shares. JPMorgan Chase & Co. boosted their target price 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 target price on Cushman & Wakefield from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $12.80.

Institutional Trading of Cushman & Wakefield

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its position in shares of Cushman & Wakefield by 137.5% in the 3rd quarter. Blue Trust Inc. now owns 3,501 shares of the company's stock valued at $48,000 after buying an additional 2,027 shares during the last quarter. CWM LLC boosted its holdings in Cushman & Wakefield by 61.4% in the second quarter. CWM LLC now owns 5,468 shares of the company's stock valued at $57,000 after acquiring an additional 2,080 shares during the last quarter. GAMMA Investing LLC increased its position in Cushman & Wakefield by 45.8% during the 3rd quarter. GAMMA Investing LLC now owns 5,186 shares of the company's stock valued at $71,000 after purchasing an additional 1,629 shares during the period. Profund Advisors LLC bought a new position in Cushman & Wakefield during the 2nd quarter worth approximately $105,000. Finally, nVerses Capital LLC acquired a new position in shares of Cushman & Wakefield in the 2nd quarter worth approximately $116,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cushman & Wakefield Stock Performance

The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.21 and a current ratio of 1.21. The stock's 50 day moving average price is $13.13 and its 200 day moving average price is $11.93. The company has a market capitalization of $3.48 billion, a P/E ratio of 189.69 and a beta of 1.30.

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.