CBRE Group (NYSE:CBRE) issued its quarterly earnings results on Thursday. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.04, MarketWatch Earnings reports. The business had revenue of $5.26 billion during the quarter, compared to analysts’ expectations of $5.17 billion. CBRE Group had a return on equity of 23.53% and a net margin of 4.21%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. CBRE Group updated its FY18 guidance to $3.10-$3.20 EPS and its FY 2018 guidance to $3.20-3.20 EPS.
NYSE CBRE traded up $1.96 on Thursday, hitting $42.25. 3,231,212 shares of the company’s stock were exchanged, compared to its average volume of 1,942,500. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.13 and a quick ratio of 1.13. CBRE Group has a 52 week low of $38.05 and a 52 week high of $50.43. The stock has a market capitalization of $13.63 billion, a PE ratio of 15.59, a PEG ratio of 0.97 and a beta of 1.78.
In other CBRE Group news, CEO William F. Concannon sold 28,878 shares of the company’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $47.47, for a total transaction of $1,370,838.66. Following the completion of the sale, the chief executive officer now directly owns 204,631 shares in the company, valued at $9,713,833.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. bought a new stake in CBRE Group during the third quarter worth $103,000. Quadrant Capital Group LLC bought a new stake in CBRE Group during the third quarter worth $128,000. Hanson & Doremus Investment Management bought a new stake in CBRE Group during the third quarter worth $155,000. IFP Advisors Inc bought a new stake in CBRE Group during the third quarter worth $176,000. Finally, Squar Milner Financial Services LLC bought a new stake in CBRE Group during the third quarter worth $197,000. Hedge funds and other institutional investors own 94.47% of the company’s stock.
Several brokerages recently issued reports on CBRE. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Monday, August 6th. Barclays boosted their price target on CBRE Group from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 30th. Finally, ValuEngine cut CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $52.19.
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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