Brokerages forecast that CBRE Group, Inc. (NYSE:CBRE) will announce sales of $6.67 billion for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for CBRE Group’s earnings. The highest sales estimate is $6.72 billion and the lowest is $6.61 billion. CBRE Group posted sales of $5.65 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.1%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, October 28th.
According to Zacks, analysts expect that CBRE Group will report full-year sales of $26.80 billion for the current financial year, with estimates ranging from $26.78 billion to $26.82 billion. For the next year, analysts expect that the firm will report sales of $29.32 billion, with estimates ranging from $29.30 billion to $29.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow CBRE Group.
CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Wednesday, July 28th. The financial services provider reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.58. The business had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.05 billion. CBRE Group had a net margin of 4.84% and a return on equity of 20.78%.
CBRE stock traded up $0.27 during midday trading on Wednesday, reaching $98.30. 770,271 shares of the company’s stock traded hands, compared to its average volume of 1,538,592. The company has a market cap of $33.00 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 1.83 and a beta of 1.49. The firm’s fifty day moving average price is $96.42 and its 200-day moving average price is $89.43. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.24. CBRE Group has a 52 week low of $43.17 and a 52 week high of $101.66.
In other news, Director Brandon B. Boze sold 341,000 shares of the company’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brandon B. Boze sold 302,000 shares of the business’s stock in a transaction dated Tuesday, August 10th. The stock was sold at an average price of $96.41, for a total transaction of $29,115,820.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 661,227 shares of company stock valued at $63,439,266. Company insiders own 0.75% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBRE. Pflug Koory LLC purchased a new stake in CBRE Group during the second quarter valued at about $26,000. Koshinski Asset Management Inc. purchased a new stake in CBRE Group during the third quarter valued at about $31,000. E Fund Management Co. Ltd. purchased a new stake in CBRE Group during the first quarter valued at about $47,000. Harvest Fund Management Co. Ltd lifted its holdings in CBRE Group by 196.0% during the second quarter. Harvest Fund Management Co. Ltd now owns 592 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 392 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in CBRE Group by 18.7% during the first quarter. Penserra Capital Management LLC now owns 811 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 128 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.
CBRE Group Company Profile
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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