According to Zacks, “Cushman & Wakefield plc is a real estate services firm. The Company acquires and develops commercial properties as well as provides property leasing, facilities management, tenant representation and valuation services. Cushman & Wakefield plc is based in Chicago, United States. “
Several other equities research analysts also recently issued reports on the company. Bank of America assumed coverage on Cushman & Wakefield in a report on Friday, October 18th. They issued a neutral rating and a $21.00 price target for the company. Barclays set a $23.00 price target on Cushman & Wakefield and gave the stock a buy rating in a report on Tuesday, October 8th. Finally, ValuEngine downgraded Cushman & Wakefield from a hold rating to a sell rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $22.67.
Cushman & Wakefield (NYSE:CWK) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the company earned $0.45 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Cushman & Wakefield will post 0.47 EPS for the current fiscal year.
In related news, CEO W Brett White sold 40,748 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $19.34, for a total transaction of $788,066.32. Following the completion of the transaction, the chief executive officer now directly owns 832,722 shares of the company’s stock, valued at $16,104,843.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Tpg Asia Advisors Vi, Inc. sold 4,321,011 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were 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 quarter, insiders have sold 4,446,365 shares of company stock valued at $80,882,183. 0.85% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. TPG Group Holdings SBS Advisors Inc. acquired a new position in Cushman & Wakefield during the third quarter valued at approximately $964,133,000. Quantum Capital Management acquired a new position in Cushman & Wakefield during the third quarter valued at approximately $166,000. California State Teachers Retirement System boosted its position 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 valued at $2,959,000 after purchasing an additional 1,907 shares during the last quarter. State Street Corp boosted its position in Cushman & Wakefield by 11.7% during the third quarter. State Street Corp now owns 2,067,189 shares of the company’s stock valued at $38,305,000 after purchasing an additional 217,272 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Cushman & Wakefield by 10.0% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,433,110 shares of the company’s stock valued at $45,085,000 after buying an additional 222,160 shares during the last quarter. 68.24% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading: Initial Coin Offering (ICO)
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