$3.34 Billion in Sales Expected for CBRE Group (CBRE) This Quarter

Wall Street analysts expect CBRE Group (NYSE:CBRE) to post sales of $3.34 billion for the current fiscal quarter, according to Zacks. Four analysts have made estimates for CBRE Group’s earnings. The highest sales estimate is $3.37 billion and the lowest is $3.29 billion. CBRE Group reported sales of $2.98 billion in the same quarter last year, which would suggest a positive year over year growth rate of 12.1%. The company is scheduled to report its next earnings results before the market opens on Wednesday, May 2nd.

On average, analysts expect that CBRE Group will report full-year sales of $15.64 billion for the current year, with estimates ranging from $15.57 billion to $15.74 billion. For the next financial year, analysts anticipate that the firm 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 research analysts that cover CBRE Group.

CBRE Group (NYSE:CBRE) 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. CBRE Group had a net margin of 4.87% and a return on equity of 25.03%. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the firm posted $0.93 earnings per share. CBRE Group’s revenue for the quarter was up 13.4% compared to the same quarter last year.

Several equities analysts have issued reports on CBRE shares. Barclays reaffirmed a “buy” rating and issued a $47.00 price target on shares of CBRE Group in a report on Wednesday, December 27th. Zacks Investment Research lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Monday, January 8th. JMP Securities lowered shares of CBRE Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 24th. They noted that the move was a valuation call. Evercore ISI started coverage on shares of CBRE Group in a report on Monday, January 22nd. They issued an “in-line” rating and a $48.00 price target on the stock. Finally, JPMorgan Chase lifted their price target on shares of CBRE Group from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $48.35.

NYSE CBRE traded up $0.09 on Friday, hitting $47.52. The stock had a trading volume of 508,688 shares, compared to its average volume of 2,137,098. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.49. CBRE Group has a 52-week low of $32.53 and a 52-week high of $48.44. The firm has a market capitalization of $16,102.87, a P/E ratio of 17.50, a P/E/G ratio of 1.19 and a beta of 1.68.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 22nd. Stockholders of record on Monday, April 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.10%.

In other news, Director Laura D. Tyson sold 1,886 shares of the business’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $47.49, for a total transaction of $89,566.14. Following the sale, the director now directly owns 33,257 shares of the company’s stock, valued at $1,579,374.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brandon Boze sold 5,000,000 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $45.78, for a total transaction of $228,900,000.00. The disclosure for this sale can be found here. Insiders have sold 5,228,290 shares of company stock worth $239,282,352 over the last three months. Corporate insiders own 0.88% of the company’s stock.

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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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