Wall Street analysts forecast that CBRE Group Inc (NYSE:CBRE) will post sales of $5.56 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for CBRE Group’s earnings. The highest sales estimate is $5.62 billion and the lowest is $5.51 billion. CBRE Group posted sales of $5.11 billion in the same quarter last year, which suggests a positive year over year growth rate of 8.8%. The company is scheduled to issue its next quarterly earnings results on Thursday, August 1st.
On average, analysts expect that CBRE Group will report full-year sales of $23.28 billion for the current year, with estimates ranging from $23.22 billion to $23.32 billion. For the next year, analysts expect that the company will post sales of $24.81 billion, with estimates ranging from $24.53 billion to $24.99 billion. Zacks’ sales averages are an average based on a survey of analysts that follow CBRE Group.
CBRE Group (NYSE:CBRE) last issued its earnings results on Wednesday, May 8th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.20. CBRE Group had a return on equity of 24.72% and a net margin of 4.94%. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period last year, the company earned $0.54 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis.
A number of analysts have issued reports on CBRE shares. Bank of America set a $54.00 target price on CBRE Group and gave the stock a “hold” rating in a research note on Friday, March 8th. JMP Securities reiterated a “hold” rating on shares of CBRE Group in a report on Monday, March 11th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.33.
Shares of CBRE traded up $0.05 during midday trading on Thursday, reaching $50.74. The company had a trading volume of 24,142 shares, compared to its average volume of 1,551,871. CBRE Group has a 1-year low of $37.45 and a 1-year high of $52.41. The company has a market capitalization of $17.05 billion, a PE ratio of 15.49, a PEG ratio of 1.29 and a beta of 1.70. The business has a 50 day simple moving average of $48.59. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.16 and a current ratio of 1.16.
In other news, CEO Robert E. Sulentic sold 40,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 841,601 shares in the company, valued at approximately $42,080,050. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO James R. Groch sold 50,000 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $52.00, for a total value of $2,600,000.00. Following the transaction, the chief financial officer now owns 454,918 shares of the company’s stock, valued at $23,655,736. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,766 shares of company stock valued at $5,061,995. Company insiders own 0.74% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBRE. Amundi Pioneer Asset Management Inc. boosted its holdings in CBRE Group by 2.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 620,620 shares of the financial services provider’s stock valued at $30,691,000 after acquiring an additional 15,131 shares during the period. Horizon Investments LLC purchased a new position in CBRE Group during the 1st quarter valued at about $208,000. Nordea Investment Management AB boosted its stake in shares of CBRE Group by 36.0% in the 1st quarter. Nordea Investment Management AB now owns 456,969 shares of the financial services provider’s stock valued at $22,597,000 after buying an additional 120,932 shares during the period. Coe Capital Management LLC boosted its stake in shares of CBRE Group by 2.9% in the 1st quarter. Coe Capital Management LLC now owns 11,205 shares of the financial services provider’s stock valued at $554,000 after buying an additional 320 shares during the period. Finally, Cerebellum GP LLC boosted its stake in shares of CBRE Group by 6.8% in the 1st quarter. Cerebellum GP LLC now owns 6,614 shares of the financial services provider’s stock valued at $327,000 after buying an additional 424 shares during the period. Institutional investors and hedge funds own 92.88% of the company’s stock.
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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