Equities research analysts expect CBRE Group, Inc. (NYSE:CBRE) to report $6.67 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for CBRE Group’s earnings, with the highest sales estimate coming in at $6.72 billion and the lowest estimate coming in at $6.61 billion. CBRE Group reported sales of $5.65 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.1%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 4th.
On average, analysts expect that CBRE Group will report full year sales of $26.80 billion for the current year, with estimates ranging from $26.78 billion to $26.82 billion. For the next year, analysts forecast that the firm will report sales of $29.32 billion, with estimates ranging from $29.30 billion to $29.34 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CBRE Group.
CBRE Group (NYSE:CBRE) last issued its earnings results on Wednesday, July 28th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.58. CBRE Group had a return on equity of 20.78% and a net margin of 4.84%. The firm had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.05 billion.
In related news, COO J. Christopher Kirk sold 18,000 shares of CBRE Group stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $97.01, for a total value of $1,746,180.00. Following the sale, the chief operating officer now owns 141,398 shares of the company’s stock, valued at approximately $13,717,019.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brandon B. Boze sold 341,000 shares of CBRE Group stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $95.47, for a total value of $32,555,270.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 661,227 shares of company stock worth $63,439,266. 0.75% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. Swiss National Bank grew its stake in CBRE Group by 6.2% in the second quarter. Swiss National Bank now owns 1,368,426 shares of the financial services provider’s stock valued at $117,315,000 after purchasing an additional 79,489 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of CBRE Group by 13.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 62,187 shares of the financial services provider’s stock worth $5,331,000 after acquiring an additional 7,191 shares during the period. Sfmg LLC boosted its stake in shares of CBRE Group by 6.8% during the 2nd quarter. Sfmg LLC now owns 15,788 shares of the financial services provider’s stock worth $1,354,000 after acquiring an additional 1,003 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of CBRE Group during the 2nd quarter worth approximately $1,412,000. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of CBRE Group by 6.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 151,793 shares of the financial services provider’s stock worth $13,013,000 after acquiring an additional 8,884 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.
CBRE traded up $0.20 during midday trading on Thursday, reaching $96.05. 1,215,045 shares of the company were exchanged, compared to its average volume of 1,562,873. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.39 and a current ratio of 1.39. CBRE Group has a one year low of $43.17 and a one year high of $99.73. The stock has a market capitalization of $32.25 billion, a P/E ratio of 26.98, a PEG ratio of 1.83 and a beta of 1.49. The stock’s 50-day simple moving average is $94.19 and its 200 day simple moving average is $87.39.
About CBRE Group
CBRE Group, Inc engages in the provision of commercial real estate and investment services. It operates through the following segments: Advisory Services, Global Workplace Solutions and Real Estate Investments. The Advisory Services Segment provides a comprehensive range of services globally, including property leasing, capital markets (property sales and mortgage origination, sales and servicing), property management, project management services and valuation services.
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