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

Equities researchers at Raymond James initiated coverage on shares of Cushman & Wakefield (NYSE:CWK) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set an “outperform” rating on the stock.

CWK has been the topic of a number of other research reports. William Blair reiterated 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 report on Thursday, August 6th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $16.86.

Shares of Cushman & Wakefield stock 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’s 50 day moving average is $11.18 and its two-hundred day moving average is $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 cap of $2.61 billion, a P/E ratio of -18.43 and a beta of 1.46.

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

Several institutional investors have recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Cushman & Wakefield by 9.8% during the 2nd quarter. FMR LLC now owns 22,041,848 shares of the company’s stock valued at $274,641,000 after buying an additional 1,974,697 shares in the last quarter. State Street Corp grew its position in Cushman & Wakefield by 3.3% during the first quarter. State Street Corp now owns 2,258,965 shares of the company’s stock valued at $26,520,000 after acquiring an additional 71,334 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Cushman & Wakefield during the second quarter worth approximately $8,454,000. Geode Capital Management LLC lifted its holdings in shares of Cushman & Wakefield by 13.8% in the 1st quarter. Geode Capital Management LLC now owns 665,900 shares of the company’s stock worth $7,817,000 after acquiring an additional 80,532 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new position in shares of Cushman & Wakefield during the 1st quarter valued at $5,498,000. Hedge funds and other institutional investors own 71.22% of the company’s stock.

About Cushman & Wakefield

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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