Real estate services firm Cushman & Wakefield (NYSE:CWK) will be reporting earnings this Tuesday before the bell. Here’s what you need to know.
Cushman & Wakefield beat analysts’ revenue expectations by 2.5% last quarter, reporting revenues of $2.28 billion, up 4.6% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Cushman & Wakefield a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Cushman & Wakefield’s revenue to grow 3.8% year on year to $2.38 billion, a reversal from the 4.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.22 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cushman & Wakefield has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Cushman & Wakefield’s peers in the real estate services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. CBRE delivered year-on-year revenue growth of 16.2%, beating analysts’ expectations by 4.3%, and Newmark reported revenues up 19.9%, topping estimates by 10.7%. CBRE traded up 7.3% following the results while Newmark was also up 4.7%.
Read our full analysis of CBRE’s results here and Newmark’s results here.
Investors in the real estate services segment have had steady hands going into earnings, with share prices flat over the last month. Cushman & Wakefield is up 2.8% during the same time and is heading into earnings with an average analyst price target of $13.36 (compared to the current share price of $11.93).
When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.