Zacks: Brokers expect CBRE Group, Inc. (NYSE: CBRE) to post EPS of $1.09
Stock analysts expect CBRE Group, Inc. (NYSE:CBRE – Get Rating) to report earnings per share (EPS) of $1.09 for the current fiscal quarter, according to Zacks. Two analysts made CBRE Group earnings estimates, with the lowest EPS estimate of $1.04 and the highest estimate of $1.16. CBRE Group reported earnings of $0.86 per share in the same quarter last year, which would indicate a positive growth rate of 26.7% year-over-year. The company is expected to release its next earnings report before the market opens on Monday, January 1.
According to Zacks, analysts expect CBRE Group to report annual earnings of $6.15 per share for the current fiscal year, with EPS estimates ranging from $6.00 to $6.45. For next year, analysts expect the company to post earnings of $6.71 per share, with EPS estimates ranging from $6.30 to $7.15. Zacks Investment Research’s EPS calculations are an average average based on a survey of research analysts who cover the CBRE Group.
The CBRE Group (NYSE:CBRE – Get Rating) last released its quarterly earnings data on Thursday, February 24. The financial services provider reported earnings per share of $2.19 for the quarter, beating Thomson Reuters consensus estimate of $1.77 by $0.42. The CBRE group achieved a return on equity of 24.38% and a net margin of 6.62%. The company posted revenue of $8.55 billion for the quarter, versus $8.16 billion expected by analysts. In the same period a year earlier, the company posted earnings per share of $1.45. The company’s revenue for the quarter increased 23.7% on an annual basis.
Several equity research analysts have released reports on the stock. Raymond James raised his price target on CBRE Group shares from $124.00 to $126.00 and gave the company an “outperform” rating in a Friday, Feb. 25 research report. StockNews.com picked up coverage from the CBRE group in a Thursday, March 31 report. They set a “buy” rating on the stock. Wolfe Research lowered its target price on the CBRE Group from $171.00 to $116.00 and set an “outperform” rating for the company in a Thursday, March 10 report. Finally, the Goldman Sachs group launched coverage on the CBRE group in a research note on Tuesday, April 5. They have set a “buy” rating and a price target of $111.00 on the stock. One equity research analyst gave the stock a hold rating and five gave the company’s stock a buy rating. According to MarketBeat, the stock currently has an average buy rating and a consensus price target of $111.60.
In a similar vein, Executive Vice President Laurence H. Midler sold 2,558 shares of the company in a trade dated Wednesday, Feb. 23. The stock was sold at an average price of $99.73, for a total transaction of $255,109.34. The sale was disclosed in a document filed with the SEC, accessible via this link. Additionally, insider Emma E. Giamartino sold 271 shares of the company in a trade dated Friday, February 18. The stock was sold at an average price of $99.68, for a total value of $27,013.28. The disclosure of this sale can be found here. Insiders sold a total of 45,381 shares of the company worth $4,209,073 in the past ninety days. Insiders own 0.75% of the shares of the company.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. State Street Corp increased its holdings of CBRE Group shares by 6.0% in the fourth quarter. State Street Corp now owns 14,871,950 shares of the financial services provider valued at $1,613,755,000 after acquiring 846,053 additional shares in the last quarter. Geode Capital Management LLC increased its stake in CBRE group shares by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 7,029,959 shares of the financial services provider worth $761,295,000 after acquiring an additional 88,304 shares last quarter. Allspring Global Investments Holdings LLC acquired a new stake in CBRE Group in the fourth quarter valued at approximately $426,873,000. Findlay Park Partners LLP increased its position in CBRE Group shares by 9.8% in the fourth quarter. Findlay Park Partners LLP now owns 3,829,692 shares of the financial services provider valued at $415,560,000 after purchasing an additional 340,380 shares during the period. Finally, American Century Companies Inc. increased its stake in CBRE Group by 10.0% during the third quarter. American Century Companies Inc. now owns 3,291,790 shares of the financial services provider worth $320,489,000 after buying an additional 298,579 shares last quarter. 94.39% of the shares are held by institutional investors and hedge funds.
Shares of CBRE were down $1.97 during Friday trading hours, hitting $84.57. 1,745,189 shares of the company were traded, against an average volume of 1,778,992. The company has a market capitalization of $27.96 billion, a price-earnings ratio of 15.66, a PEG ratio of 1, 26 and a beta of 1.37. The CBRE group has a 12-month low of $79.84 and a 12-month high of $111.00. The stock’s fifty-day moving average price is $91.09 and its 200-day moving average price is $98.62. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt ratio of 0.16.
CBRE Group Company Profile (Get an assessment)
CBRE Group, Inc operates as a worldwide commercial real estate and investment services company. It operates through three segments: Consulting Services, Global Workplace Solutions and Real Estate Investments. The Advisory Services segment provides strategic advice and execution to owners, investors and occupiers of real estate in connection with leasing; real estate sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, construction engineering, accounting and financial services for owners and investors of office, industrial and retail properties; and appraisal services which include market value appraisals, litigation support, discounted cash flow analyzes and feasibility studies, as well as advisory services, such as property condition reports , hotel advice and environmental advice.
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