Cushman & Wakefield: Earnings Per Share Projections and Analyst Ratings
Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, recently released its financial results for the quarter ending March 31, 2023. The company reported better-than-expected earnings, with earnings per share (EPS) coming in at $0.49, exceeding analyst estimates of $0.45.
Earnings Highlights
- Revenue grew by 6.3% year-over-year to $2.7 billion, driven by strong performance in the Americas and Asia Pacific regions.
- Net income rose by 11.4% to $103 million.
- Adjusted EBITDA increased by 7.5% to $192 million.
Analyst Ratings
Following the earnings release, several analysts have updated their ratings and price targets for Cushman & Wakefield:
- Wolfe Research: Maintained a “Peer Perform” rating with a price target of $11.
- Raymond James: Downgraded the stock from “Strong Buy” to “Outperform” with a price target of $13.
- Jefferies: Initiated coverage with a “Buy” rating and a price target of $13.
Key Metrics and Projections
Key metrics for Cushman & Wakefield include:
- Price-to-earnings (P/E) ratio: -55.6
- Price-to-book (P/B) ratio: 1.6
- Debt-to-equity ratio: 1.9
Analysts’ EPS projections for the next four quarters are as follows:
- Q2 2023: $0.46
- Q3 2023: $0.50
- Q4 2023: $0.52
- Q1 2024: $0.48
Market Sentiment
Despite the upbeat earnings report, Cushman & Wakefield’s stock price has declined slightly in recent days.
Institutional Ownership
Institutional investors hold a significant stake in Cushman & Wakefield, with 95.56% of the company’s shares owned by institutions. Top institutional shareholders include Vanguard Group Inc., FMR LLC, and BlackRock Inc.
Company Profile
Cushman & Wakefield is a global commercial real estate services firm with operations in over 60 countries. The company provides a wide range of real estate services, including property management, brokerage, consulting, and research.
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