CBRE Group (NYSE:CBG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, January 8th.
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 research firms have also recently commented on CBG. Bank of America upped their price objective on CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Barclays reiterated a “buy” rating and set a $47.00 price objective on shares of CBRE Group in a research report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $42.83.
CBRE Group (CBG) traded up $0.34 during trading on Monday, reaching $44.99. The company’s stock had a trading volume of 1,640,600 shares, compared to its average volume of 1,786,555. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.66. CBRE Group has a twelve month low of $29.69 and a twelve month high of $45.51. The company has a market capitalization of $15,156.85, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.23 and a beta of 1.87.
CBRE Group (NYSE:CBG) last released its earnings results on Friday, November 3rd. The financial services provider reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.10. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. equities analysts expect that CBRE Group will post 2.66 EPS for the current fiscal year.
In other CBRE Group news, insider Valueact Capital Master Fund, sold 882,206 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $42.84, for a total transaction of $37,793,705.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Calvin W. Frese, Jr. sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $40.04, for a total value of $1,001,000.00. Following the sale, the insider now owns 246,473 shares in the company, valued at $9,868,778.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,013,565 shares of company stock valued at $128,628,161. Corporate insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank increased its holdings in CBRE Group by 25.6% during the 2nd quarter. Toronto Dominion Bank now owns 101,905 shares of the financial services provider’s stock worth $3,709,000 after purchasing an additional 20,739 shares during the period. Balyasny Asset Management LLC lifted its position in CBRE Group by 57.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 101,263 shares of the financial services provider’s stock worth $3,686,000 after acquiring an additional 37,092 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in CBRE Group by 70.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,724 shares of the financial services provider’s stock worth $11,884,000 after acquiring an additional 130,144 shares during the period. Chicago Equity Partners LLC acquired a new stake in CBRE Group during the 3rd quarter worth about $748,000. Finally, Commonwealth Bank of Australia raised its stake in shares of CBRE Group by 347.4% during 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 94.74% 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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