Cushman & Wakefield (CWK) Soars 6.4%: Is Further Upside Left in the Stock?
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Cushman & Wakefield CWK shares rallied 6.4% in the last trading session to close at $13.55. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.9% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to the positive sentiments within operations real estate amid favorable industry fundamentals.
This company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of -9.5%. Revenues are expected to be $2.37 billion, up 3.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cushman & Wakefield, the consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CWK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cushman & Wakefield belongs to the Zacks Real Estate - Operations industry. Another stock from the same industry, KE Holdings Inc. Sponsored ADR BEKE, closed the last trading session 1.1% lower at $20.43. Over the past month, BEKE has returned 26.3%.
For KE Hodlings , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.21. This represents a change of -12.5% from what the company reported a year ago. KE Hodlings currently has a Zacks Rank of #3 (Hold).
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Cushman & Wakefield PLC (CWK) : Free Stock Analysis Report
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