Equities research analysts expect CBRE Group (NYSE:CBRE) to announce $3.34 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for CBRE Group’s earnings, with the highest sales estimate coming in at $3.37 billion and the lowest estimate coming in at $3.29 billion. CBRE Group posted sales of $2.98 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.1%. The company is scheduled to report its next earnings report before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that CBRE Group will report full year sales of $3.34 billion for the current financial year, with estimates ranging from $15.57 billion to $15.74 billion. For the next fiscal year, analysts expect that the company will report sales of $16.67 billion per share, with estimates ranging from $16.30 billion to $16.85 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow CBRE Group.
CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.06. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. CBRE Group had a return on equity of 25.03% and a net margin of 4.87%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 EPS.
Several equities analysts have recently weighed in on CBRE shares. Evercore ISI started coverage on CBRE Group in a research note on Monday, January 22nd. They issued an “in-line” rating and a $48.00 price objective on the stock. Zacks Investment Research lowered CBRE Group from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Barclays reaffirmed a “buy” rating and issued a $47.00 price objective on shares of CBRE Group in a research note on Wednesday, December 27th. Goldman Sachs began coverage on CBRE Group in a report on Tuesday, April 3rd. They set a “buy” rating and a $54.00 target price on the stock. Finally, ValuEngine upgraded CBRE Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.35.
In other CBRE Group news, insider Robert E. Sulentic sold 40,000 shares of CBRE Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $42.56, for a total transaction of $1,702,400.00. Following the sale, the insider now directly owns 597,971 shares in the company, valued at approximately $25,449,645.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Calvin W. Frese, Jr. sold 25,000 shares of CBRE Group stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $44.17, for a total value of $1,104,250.00. Following the sale, the insider now owns 213,121 shares in the company, valued at $9,413,554.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,228,290 shares of company stock worth $239,282,352. Company insiders own 1.00% of the company’s stock.
Shares of NYSE CBRE traded down $1.06 during midday trading on Tuesday, hitting $46.73. The stock had a trading volume of 1,804,882 shares, compared to its average volume of 2,010,328. The firm has a market capitalization of $15,865.21, a P/E ratio of 17.24, a P/E/G ratio of 1.17 and a beta of 1.68. CBRE Group has a 1-year low of $32.46 and a 1-year high of $48.39. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.18 and a quick ratio of 1.18.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Monday, April 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.14%.
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About CBRE Group
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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