Stock Story -
Real estate services firm Cushman & Wakefield (NYSE:CWK) will be announcing earnings results tomorrow afternoon. Here's what to expect.
Cushman & Wakefield met analysts' revenue expectations last quarter, reporting revenues of $2.18 billion, down 2.9% year on year. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Cushman & Wakefield a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Cushman & Wakefield's revenue to decline 2% year on year to $2.36 billion, improving from the 7.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.18 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 only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 4.7% on average.
Looking at Cushman & Wakefield's peers in the consumer discretionary 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 8.7%, meeting analysts' expectations, and Royal Caribbean reported revenues up 16.7%, topping estimates by 1.6%. CBRE traded up 12.5% following the results while Royal Caribbean was down 6.7%.
Read the full analysis of CBRE's and Royal Caribbean's results on StockStory.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 10.9% on average over the last month. Cushman & Wakefield is up 34.3% during the same time and is heading into earnings with an average analyst price target of $13.3 (compared to the current share price of $13.5).
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