CBRE Group (CBG) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of CBRE Group (NYSE:CBG) from a buy rating to a hold rating in a research report released on Monday.

According to Zacks, “Shares of CBRE Group have outperformed the industry it belongs to, in the past three months. Recently, the company announced the acquisition of a building technical engineering services provider in Italy — Geico Lender S.p.A. The move comes as part of the company’s strategic efforts to expand its facilities management expertise in the region. Notably, CBRE Group is experiencing strength in all three of its regional services businesses and solid growth in occupier outsourcing business. Going forward, its extensive real estate products and services offerings, improving leasing and outsourcing business, strategic in-fill acquisitions, transformational deals, and healthy balance sheet are expected to drive results. Yet, competition from international, regional and local players, its exposure to unfavorable foreign currency movements and uneasiness in certain global economies are concerns before CBRE.”

A number of other analysts have also recently weighed in on CBG. Bank of America raised their price objective on shares of CBRE Group from $42.00 to $44.00 and gave the stock a buy rating in a report on Monday, November 6th. Barclays reaffirmed a buy rating and issued a $47.00 target price on shares of CBRE Group in a report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $42.83.

CBRE Group (CBG) traded down $0.88 during mid-day trading on Monday, reaching $44.27. 2,227,000 shares of the company’s stock were exchanged, compared to its average volume of 2,083,914. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.66. CBRE Group has a 12 month low of $29.69 and a 12 month high of $45.50. The firm has a market capitalization of $15,030.00, a PE ratio of 19.16, a P/E/G ratio of 1.23 and a beta of 1.87.

CBRE Group (NYSE:CBG) last released its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. equities analysts predict that CBRE Group will post 2.67 EPS for the current year.

In other news, EVP J. Christopher Kirk sold 20,000 shares of CBRE Group stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $43.32, for a total value of $866,400.00. Following the transaction, the executive vice president now directly owns 118,162 shares of the company’s stock, valued at approximately $5,118,777.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Calvin W. Frese, Jr. sold 11,307 shares of CBRE Group stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $40.00, for a total transaction of $452,280.00. Following the completion of the transaction, the insider now directly owns 246,473 shares in the company, valued at $9,858,920. The disclosure for this sale can be found here. Insiders sold a total of 3,024,872 shares of company stock worth $129,080,441 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Toronto Dominion Bank grew its position in CBRE Group by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 101,905 shares of the financial services provider’s stock valued at $3,709,000 after buying an additional 20,739 shares during the last quarter. Balyasny Asset Management LLC grew its position in CBRE Group by 57.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 101,263 shares of the financial services provider’s stock valued at $3,686,000 after buying an additional 37,092 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in CBRE Group by 70.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,724 shares of the financial services provider’s stock valued at $11,884,000 after buying an additional 130,144 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in CBRE Group in the 3rd quarter valued at $748,000. Finally, Commonwealth Bank of Australia grew its position in CBRE Group by 347.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 21,364 shares of the financial services provider’s stock valued at $776,000 after buying an additional 16,589 shares during the last quarter. Hedge funds and other institutional investors own 94.58% of the company’s stock.

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CBRE Group Company Profile

CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.

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