BidaskClub Lowers CBRE Group, Inc. (CBG) to Sell
CBRE Group, Inc. (NYSE:CBG) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.
Several other analysts have also commented on CBG. Wedbush restated an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a research report on Monday, April 17th. Zacks Investment Research lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price target on shares of CBRE Group in a research report on Tuesday, May 30th. Barclays PLC raised their price target on shares of CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, July 18th. Finally, UBS AG initiated coverage on shares of CBRE Group in a research report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $39.40.
CBRE Group (CBG) remained flat at $35.65 during trading on Friday. 391,293 shares of the company traded hands. CBRE Group has a one year low of $25.40 and a one year high of $38.99. The firm has a 50 day moving average price of $37.08 and a 200-day moving average price of $35.03. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 17.40 and a beta of 1.83.
CBRE Group (NYSE:CBG) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.12. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.39 billion. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. Equities research analysts forecast that CBRE Group will post $2.57 earnings per share for the current fiscal year.
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In other news, CFO Gil Borok sold 25,627 shares of CBRE Group stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $37.33, for a total value of $956,655.91. Following the sale, the chief financial officer now owns 76,651 shares in the company, valued at $2,861,381.83. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Lafitte sold 15,000 shares of CBRE Group stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $37.02, for a total transaction of $555,300.00. Following the completion of the sale, the insider now owns 369,774 shares in the company, valued at approximately $13,689,033.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,627 shares of company stock worth $2,822,306. Company insiders own 1.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Thrivent Financial For Lutherans raised its stake in shares of CBRE Group by 1.5% in the second quarter. Thrivent Financial For Lutherans now owns 17,969 shares of the financial services provider’s stock valued at $654,000 after buying an additional 270 shares during the period. Profund Advisors LLC increased its position in CBRE Group by 19.9% in the second quarter. Profund Advisors LLC now owns 18,614 shares of the financial services provider’s stock valued at $678,000 after buying an additional 3,090 shares in the last quarter. Laurion Capital Management LP acquired a new position in CBRE Group during the second quarter valued at $2,034,000. Amalgamated Bank increased its position in CBRE Group by 48.7% in the second quarter. Amalgamated Bank now owns 33,741 shares of the financial services provider’s stock valued at $1,228,000 after buying an additional 11,043 shares in the last quarter. Finally, BlackRock Inc. increased its position in CBRE Group by 6.1% in the second quarter. BlackRock Inc. now owns 20,546,977 shares of the financial services provider’s stock valued at $747,911,000 after buying an additional 1,175,336 shares in the last quarter. Institutional investors and hedge funds own 96.44% of the company’s stock.
CBRE Group Company Profile
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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