Raymond James Initiates Coverage on Cushman & Wakefield (NYSE:CWK)

Research analysts at Raymond James initiated coverage on shares of Cushman & Wakefield (NYSE:CWK) in a note issued to investors on Wednesday, The Fly reports. The firm set an “outperform” rating on the stock.

A number of other brokerages have also recently weighed in on CWK. William Blair reaffirmed an “outperform” rating on shares of Cushman & Wakefield in a research report on Thursday, August 6th. Zacks Investment Research raised Cushman & Wakefield from a “sell” rating to a “hold” rating in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Cushman & Wakefield presently has an average rating of “Buy” and an average price target of $16.86.

NYSE CWK traded up $0.13 on Wednesday, reaching $11.98. The stock had a trading volume of 790,996 shares, compared to its average volume of 840,336. The business has a 50 day moving average price of $11.18 and a 200 day moving average price of $11.75. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 3.56. Cushman & Wakefield has a 1 year low of $6.84 and a 1 year high of $20.80. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -18.43 and a beta of 1.46.

Cushman & Wakefield (NYSE:CWK) last issued its earnings results on Thursday, August 6th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.38). Cushman & Wakefield had a negative net margin of 1.69% and a negative return on equity of 12.14%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the firm earned $0.39 EPS. The business’s revenue for the quarter was down 17.8% compared to the same quarter last year. On average, analysts anticipate that Cushman & Wakefield will post -0.78 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Cushman & Wakefield by 52.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 20,356 shares of the company’s stock worth $254,000 after purchasing an additional 7,000 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Cushman & Wakefield during the second quarter valued at about $315,000. Charles Schwab Investment Management Inc. increased its stake in Cushman & Wakefield by 17.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 335,003 shares of the company’s stock valued at $4,175,000 after acquiring an additional 50,945 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Cushman & Wakefield during the second quarter valued at about $8,454,000. Finally, Man Group plc bought a new position in Cushman & Wakefield during the second quarter valued at about $167,000. 71.22% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Cushman & Wakefield (NYSE:CWK)

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