Brokerages expect CBRE Group Inc (NYSE:CBG) to post $3.34 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for CBRE Group’s earnings, with the lowest sales estimate coming in at $3.29 billion and the highest estimate coming in at $3.37 billion. CBRE Group reported sales of $2.98 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.1%. The business is scheduled to announce its next quarterly earnings report on Thursday, April 26th.
According to Zacks, analysts expect that CBRE Group will report full year sales of $3.34 billion for the current year, with estimates ranging from $15.57 billion to $15.74 billion. For the next year, analysts anticipate that the business will post sales of $16.67 billion per share, with estimates ranging from $16.30 billion to $16.85 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CBRE Group.
CBRE Group (NYSE:CBG) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. CBRE Group had a net margin of 4.87% and a return on equity of 25.03%. CBRE Group’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 earnings per share.
A number of research analysts have commented on CBG shares. Barclays restated a “buy” rating and issued a $47.00 price objective on shares of CBRE Group in a research note on Wednesday, December 27th. Zacks Investment Research lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Evercore ISI started coverage on shares of 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. JMP Securities lowered 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. Finally, ValuEngine upgraded shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $47.72.
CBRE Group (CBG) opened at $47.42 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.49. The company has a market cap of $16,092.69, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 1.19 and a beta of 1.72. CBRE Group has a one year low of $32.30 and a one year high of $48.27.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 22nd. Stockholders of record on Monday, April 23rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.11%.
In other news, Director Laura D. Tyson sold 1,886 shares of CBRE Group stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $47.49, for a total value of $89,566.14. Following the sale, the director now owns 33,257 shares of the company’s stock, valued at $1,579,374.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert E. Sulentic sold 40,000 shares of CBRE Group stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $42.56, for a total transaction of $1,702,400.00. Following the completion of the sale, the insider now directly owns 597,971 shares in the company, valued at approximately $25,449,645.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,228,290 shares of company stock worth $239,282,352. Insiders own 1.00% of the company’s stock.
Several large investors have recently modified their holdings of CBG. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in CBRE Group by 70.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,724 shares of the financial services provider’s stock worth $11,884,000 after buying an additional 130,144 shares in the last quarter. BlackRock Inc. boosted its holdings in CBRE Group by 13.0% during the fourth quarter. BlackRock Inc. now owns 23,251,731 shares of the financial services provider’s stock worth $1,007,033,000 after buying an additional 2,668,228 shares in the last quarter. Chicago Equity Partners LLC purchased a new stake in CBRE Group during the third quarter worth about $748,000. Convergence Investment Partners LLC purchased a new stake in CBRE Group during the fourth quarter worth about $1,837,000. Finally, Legal & General Group Plc boosted its holdings in CBRE Group by 4.6% during the third quarter. Legal & General Group Plc now owns 1,540,359 shares of the financial services provider’s stock worth $58,349,000 after buying an additional 67,625 shares in the last quarter. 94.31% of the stock is currently owned by institutional investors and hedge funds.
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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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