Equities research analysts forecast that CBRE Group Inc (NYSE:CBRE) will post sales of $4.71 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for CBRE Group’s earnings. The highest sales estimate is $4.81 billion and the lowest is $4.60 billion. CBRE Group posted sales of $3.34 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 41%. The business is expected to announce its next quarterly earnings report on Thursday, July 26th.
According to Zacks, analysts expect that CBRE Group will report full-year sales of $20.00 billion for the current financial year, with estimates ranging from $19.67 billion to $20.32 billion. For the next year, analysts forecast that the company will post sales of $21.47 billion per share, with estimates ranging from $21.04 billion to $21.89 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover CBRE Group.
CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.05. The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $3.32 billion. CBRE Group had a return on equity of 24.15% and a net margin of 4.48%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS.
A number of brokerages have recently weighed in on CBRE. Goldman Sachs Group began coverage on CBRE Group in a report on Tuesday, April 3rd. They issued a “buy” rating and a $54.00 target price on the stock. JPMorgan Chase & Co. upped their target price on CBRE Group from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, March 6th. Barclays reiterated a “buy” rating and issued a $58.00 target price (up previously from $56.00) on shares of CBRE Group in a report on Sunday, May 13th. Raymond James upgraded CBRE Group from an “outperform” rating to a “strong-buy” rating in a report on Thursday, May 10th. Finally, ValuEngine downgraded CBRE Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. CBRE Group currently has an average rating of “Buy” and an average price target of $49.25.
CBRE Group opened at $47.74 on Thursday, according to Marketbeat Ratings. The stock has a market cap of $16.22 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 1.18 and a beta of 1.72. CBRE Group has a 1 year low of $34.38 and a 1 year high of $49.19. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.18 and a current ratio of 1.18.
In related news, insider Michael J. Lafitte sold 16,775 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $47.23, for a total value of $792,283.25. Following the completion of the sale, the insider now owns 339,780 shares of the company’s stock, valued at approximately $16,047,809.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Curtis F. Feeny sold 7,447 shares of the business’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $46.27, for a total value of $344,572.69. Following the completion of the sale, the director now directly owns 4,453 shares of the company’s stock, valued at approximately $206,040.31. The disclosure for this sale can be found here. In the last three months, insiders sold 79,222 shares of company stock valued at $3,821,556. 0.88% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Brown Advisory Inc. bought a new stake in CBRE Group during the first quarter worth approximately $1,236,000. Mount Yale Investment Advisors LLC bought a new stake in CBRE Group during the first quarter worth approximately $360,000. Dynamic Technology Lab Private Ltd bought a new stake in CBRE Group during the first quarter worth approximately $1,125,000. Suntrust Banks Inc. bought a new stake in CBRE Group during the first quarter worth approximately $1,458,000. Finally, Allianz Asset Management GmbH bought a new stake in CBRE Group during the first quarter worth approximately $10,230,000. 93.00% of the stock is owned by hedge funds and other institutional investors.
CBRE Group Company Profile
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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