Real estate services firm Cushman & Wakefield (NYSE: CWK) will be announcing earnings results this Wednesday before the bell. Here’s what to expect.
Cushman & Wakefield beat analysts’ revenue expectations last quarter, reporting revenues of $2.54 billion, up 11% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates.
Is Cushman & Wakefield a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Cushman & Wakefield’s revenue to grow 7.5% year on year, slowing from the 8.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Cushman & Wakefield has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Cushman & Wakefield’s peers in the consumer discretionary - real estate services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. JLL delivered year-on-year revenue growth of 10.8%, beating analysts’ expectations by 1.5%, and Newmark reported revenues up 17%, topping estimates by 2.2%. JLL traded up 4.4% following the results while Newmark was down 6.9%.
Read our full analysis of JLL’s results here and Newmark’s results here.
Investors in the consumer discretionary - real estate services segment have had steady hands going into earnings, with share prices flat over the last month. Cushman & Wakefield is down 1.6% during the same time and is heading into earnings with an average analyst price target of $17.44 (compared to the current share price of $13.58).
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