Cushman & Wakefield CWK shares ended the last trading session 5% higher at $13.65. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.9% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the broader market sentiment.
This company is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +16.7%. Revenues are expected to be $2.62 billion, up 5.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Cushman & Wakefield, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 #2 (Buy). 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, Mobile Infrastructure Corporation BEEP, closed the last trading session 2.9% lower at $1.49. Over the past month, BEEP has returned -33.6%.
Mobile Infrastructure Corporation's consensus EPS estimate for the upcoming report has changed +5.3% over the past month to -$0.09. Compared to the company's year-ago EPS, this represents a change of +18.2%. Mobile Infrastructure Corporation currently boasts a Zacks Rank of #3 (Hold).
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Cushman & Wakefield PLC (CWK): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).