CBRE Group (NYSE:CBG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, February 5th.
According to Zacks, “Shares of CBRE Group have outperformed the industry it belongs to in the past three months. In December 2017, 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. 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.”
CBG has been the topic of a number of other research reports. JMP Securities cut shares of CBRE Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 24th. They noted that the move was a valuation call. 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 research note on Monday, November 6th. Evercore ISI assumed coverage on CBRE Group in a research report on Monday, January 22nd. They set an “in-line” rating and a $48.00 target price on the stock. Barclays increased their target price on CBRE Group from $47.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Finally, William Blair reiterated an “outperform” rating on shares of CBRE Group in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $46.56.
Shares of CBRE Group (NYSE CBG) opened at $43.79 on Monday. The company has a market cap of $14,980.00, a P/E ratio of 21.74, a PEG ratio of 1.08 and a beta of 1.83. CBRE Group has a one year low of $32.30 and a one year high of $46.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.28 and a current ratio of 1.08.
CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. CBRE Group had a net margin of 4.87% and a return on equity of 25.03%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $0.93 EPS. research analysts forecast that CBRE Group will post 3.07 earnings per share for the current fiscal year.
In other CBRE Group news, insider Valueact Capital Master Fund, sold 882,206 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $42.84, for a total value of $37,793,705.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert E. Sulentic sold 40,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $42.56, for a total value of $1,702,400.00. Following the completion of the transaction, the insider now owns 597,971 shares in the company, valued at approximately $25,449,645.76. The disclosure for this sale can be found here. Insiders have sold a total of 3,000,687 shares of company stock worth $128,188,805 in the last quarter. Insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CBG. BlackRock Inc. raised its holdings in shares of CBRE Group by 13.0% during the 4th quarter. BlackRock Inc. now owns 23,251,731 shares of the financial services provider’s stock worth $1,007,033,000 after acquiring an additional 2,668,228 shares during the period. Old Mutual Global Investors UK Ltd. raised its holdings in shares of CBRE Group by 2,969.2% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,151,635 shares of the financial services provider’s stock worth $43,623,000 after acquiring an additional 1,114,113 shares during the period. State Treasurer State of Michigan raised its holdings in shares of CBRE Group by 650.5% during the 3rd quarter. State Treasurer State of Michigan now owns 741,732 shares of the financial services provider’s stock worth $28,097,000 after acquiring an additional 642,900 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of CBRE Group during the 4th quarter worth $25,471,000. Finally, Capital Growth Management LP purchased a new position in shares of CBRE Group during the 4th quarter worth $15,158,000. Institutional investors and hedge funds own 94.44% of the company’s stock.
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About CBRE Group
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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