Stocks of Cushman & Wakefield plc (NYSE:CWK) traded higher last session on Wall Street, up 3.09% to $7.00.
As we calculate the median target price by taking the range between a high of $12.00 and a low of $10.00, we find $10.50. Given the previous closing price of $6.79, this indicates a potential upside of 54.64 percent. CWK stock price is now -21.04% away from the 50-day moving average and -31.57% away from the 200-day moving average. The market capitalization of the company currently stands at $1.59B.
Brokers who have rated the stock have averaged $10.80 as their price target over the next twelve months.
With the price target reduced from $19 to $10, UBS Downgraded its rating from Buy to Neutral for Cushman & Wakefield plc (NYSE: CWK).
In other news, PAGAC Drone Holding GP I Ltd, 10% Owner sold 3,000,000 shares of the company’s stock on Jun 08. The stock was sold for $25,875,000 at an average price of $8.62. Upon completion of the transaction, the 10% Owner now directly owns 22,717,475 shares in the company, valued at $159.02 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 01, Director McLean Jodie W. sold 15,000 shares of the business’s stock. A total of $117,600 was realized by selling the stock at an average price of $7.84. This leaves the insider owning 33,176 shares of the company worth $0.23 million. Insiders disposed of 6,307,771 shares of company stock worth roughly $44.15 million over the past 1 year. A total of 16.44% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CWK stock. A new stake in Cushman & Wakefield plc shares was purchased by RUSH ISLAND MANAGEMENT, LP during the first quarter worth $24,057,000. HOSKING PARTNERS LLP invested $1,901,000 in shares of CWK during the first quarter. In the first quarter, CUBIST SYSTEMATIC STRATEGIES, LLC acquired a new stake in Cushman & Wakefield plc valued at approximately $1,773,000. EDGESTREAM PARTNERS, L.P. acquired a new stake in CWK for approximately $1,260,000. EPOCH INVESTMENT PARTNERS, INC. purchased a new stake in CWK valued at around $1,012,000 in the second quarter. In total, there are 272 active investors with 85.05% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $6.70 for Cushman & Wakefield plc (NYSE: CWK). During the past 12 months, Cushman & Wakefield plc has had a low of $6.64 and a high of $15.63. The fifty day moving average price for CWK is $8.80 and a two-hundred day moving average price translates $10.21 for the stock.
The latest earnings results from Cushman & Wakefield plc (NYSE: CWK) was released for Jun, 2023. According to the Real Estate Services Company, earnings per share came in at $0.22, beating analysts’ expectations of $0.17 by 0.05. This compares to $0.43 EPS in the same period last year. The net profit margin was -0.18% and return on equity was -1.10% for CWK. The company reported revenue of $2.41 billion for the quarter, compared to $2.61 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.91 percent. For the current quarter, analysts expect CWK to generate $1.66B in revenue.
Cushman & Wakefield plc(CWK) 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. 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 self-performed facilities services, which include janitorial, maintenance, critical environment management, landscaping, and office services. The company also provides owner representation and tenant representation leasing services; capital market services, including investment sales and equity, and debt and structured financing for real estate purchase and sales transactions; and appraisal management, investment management, valuation advisory, portfolio advisory, diligence advisory, dispute analysis and litigation support, financial reporting, and property and/or portfolio valuation services on real estate debt and equity decisions. Cushman & Wakefield has strategic partnerships with Vanke Service (Hong Kong) Co., Limited. It serves real estate owners and occupiers, such as tenants, investors, and multi-national corporations. The company was founded in 1784 and is based in London, the United Kingdom.
