Cushman & Wakefield (NYSE:CWK) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Cushman & Wakefield (NYSE:CWK) from a buy rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

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. “

Shares of CWK stock traded down $0.10 during trading hours on Tuesday, reaching $18.09. 326,974 shares of the company traded hands, compared to its average volume of 980,530. Cushman & Wakefield has a 12-month low of $13.25 and a 12-month high of $19.79. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market cap of $3.94 billion and a P/E ratio of -16.60. The stock’s 50-day moving average price is $17.77.

Cushman & Wakefield (NYSE:CWK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.10 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.10. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Cushman & Wakefield had a positive return on equity of 10.36% and a negative net margin of 1.43%. The firm’s revenue was up 7.7% on a year-over-year basis. Sell-side analysts expect that Cushman & Wakefield will post 0.71 EPS for the current fiscal year.

In related news, insider W Brett White sold 44,675 shares of Cushman & Wakefield stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $18.00, for a total transaction of $804,150.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.85% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of CWK. Ontario Teachers Pension Plan Board bought a new stake in Cushman & Wakefield in the 1st quarter worth approximately $282,315,000. FMR LLC increased its stake in Cushman & Wakefield by 21.8% in the 1st quarter. FMR LLC now owns 9,569,175 shares of the company’s stock worth $170,332,000 after acquiring an additional 1,712,878 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Cushman & Wakefield by 6.8% in the 1st quarter. JPMorgan Chase & Co. now owns 9,054,196 shares of the company’s stock worth $161,165,000 after acquiring an additional 577,639 shares during the last quarter. Lakewood Capital Management LP increased its stake in Cushman & Wakefield by 24.7% in the 4th quarter. Lakewood Capital Management LP now owns 2,972,350 shares of the company’s stock worth $43,010,000 after acquiring an additional 588,000 shares during the last quarter. Finally, CI Investments Inc. increased its stake in Cushman & Wakefield by 5.2% in the 4th quarter. CI Investments Inc. now owns 2,701,283 shares of the company’s stock worth $39,088,000 after acquiring an additional 134,141 shares during the last quarter. 41.50% of the stock is currently owned by institutional investors.

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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