Wall Street analysts forecast that CBRE Group Inc (NYSE:CBRE) will post sales of $5.12 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for CBRE Group’s earnings. The highest sales estimate is $5.15 billion and the lowest is $5.09 billion. CBRE Group reported sales of $3.55 billion in the same quarter last year, which indicates a positive year over year growth rate of 44.2%. The business is expected to announce its next quarterly earnings report on Friday, November 2nd.
According to Zacks, analysts expect that CBRE Group will report full year sales of $20.93 billion for the current financial year, with estimates ranging from $20.88 billion to $20.98 billion. For the next year, analysts forecast that the business will report sales of $22.82 billion per share, with estimates ranging from $22.70 billion to $22.94 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover CBRE Group.
CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.72 billion. CBRE Group had a return on equity of 23.53% and a net margin of 4.21%. CBRE Group’s quarterly revenue was up 15.1% on a year-over-year basis.
CBRE has been the subject of a number of research analyst reports. Zacks Investment Research downgraded CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Barclays upped their target price on CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, August 30th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $52.19.
CBRE traded down $0.01 during trading on Thursday, reaching $46.45. The stock had a trading volume of 1,026,300 shares, compared to its average volume of 1,884,315. The company has a market capitalization of $15.85 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.14 and a beta of 1.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.13 and a quick ratio of 1.13. CBRE Group has a 1-year low of $36.14 and a 1-year high of $50.43.
In other CBRE Group news, CFO James R. Groch sold 50,000 shares of the company’s stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $49.01, for a total value of $2,450,500.00. Following the transaction, the chief financial officer now owns 478,015 shares of the company’s stock, valued at $23,427,515.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William F. Concannon sold 28,878 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $47.47, for a total value of $1,370,838.66. Following the completion of the transaction, the chief executive officer now directly owns 204,631 shares in the company, valued at approximately $9,713,833.57. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Greystone Managed Investments Inc. increased its holdings in shares of CBRE Group by 1.8% in the second quarter. Greystone Managed Investments Inc. now owns 198,282 shares of the financial services provider’s stock valued at $9,466,000 after buying an additional 3,486 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of CBRE Group by 4,837.8% in the second quarter. Cornerstone Wealth Management LLC now owns 235,633 shares of the financial services provider’s stock valued at $4,944,000 after buying an additional 230,861 shares in the last quarter. James Investment Research Inc. increased its holdings in shares of CBRE Group by 26.8% in the second quarter. James Investment Research Inc. now owns 138,185 shares of the financial services provider’s stock valued at $6,597,000 after buying an additional 29,191 shares in the last quarter. Amalgamated Bank increased its holdings in shares of CBRE Group by 13.5% in the second quarter. Amalgamated Bank now owns 44,807 shares of the financial services provider’s stock valued at $2,139,000 after buying an additional 5,329 shares in the last quarter. Finally, Jensen Investment Management Inc. increased its holdings in shares of CBRE Group by 14.1% in the second quarter. Jensen Investment Management Inc. now owns 15,120 shares of the financial services provider’s stock valued at $722,000 after buying an additional 1,870 shares in the last quarter. 94.95% of the stock is currently owned by institutional investors.
CBRE Group Company Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.
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