Brokers Offer Predictions for CBRE Group Inc’s FY2018 Earnings (CBG)
CBRE Group Inc (NYSE:CBG) – Equities research analysts at William Blair increased their FY2018 earnings estimates for CBRE Group in a research report issued to clients and investors on Thursday. William Blair analyst S. Sheldon now anticipates that the financial services provider will earn $3.10 per share for the year, up from their previous forecast of $2.83. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for CBRE Group’s FY2019 earnings at $3.35 EPS.
CBG has been the subject of several other research reports. Barclays restated a “buy” rating and issued a $47.00 target price on shares of CBRE Group in a report on Wednesday, December 27th. Zacks Investment Research cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Bank of America increased their price target on shares of CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. JMP Securities cut shares of CBRE Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Finally, Evercore ISI assumed coverage on shares of CBRE Group in a research note on Monday, January 22nd. They set an “in-line” rating and a $48.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $45.88.
CBRE Group (NYSE:CBG) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.06. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 earnings per share.
Several hedge funds have recently added to or reduced their stakes in the company. Exencial Wealth Advisors LLC increased its holdings in shares of CBRE Group by 2.7% in the 4th quarter. Exencial Wealth Advisors LLC now owns 82,993 shares of the financial services provider’s stock valued at $3,594,000 after purchasing an additional 2,206 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of CBRE Group by 5.9% in the 4th quarter. Arizona State Retirement System now owns 134,693 shares of the financial services provider’s stock valued at $5,834,000 after purchasing an additional 7,531 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in shares of CBRE Group by 21.5% in the 4th quarter. Pinebridge Investments L.P. now owns 26,631 shares of the financial services provider’s stock valued at $1,153,000 after purchasing an additional 4,712 shares in the last quarter. State of Wisconsin Investment Board increased its holdings in shares of CBRE Group by 0.9% in the 4th quarter. State of Wisconsin Investment Board now owns 571,268 shares of the financial services provider’s stock valued at $24,742,000 after purchasing an additional 5,374 shares in the last quarter. Finally, Squar Milner Financial Services LLC purchased a new position in shares of CBRE Group in the 4th quarter valued at about $212,000. Institutional investors own 94.66% of the company’s stock.
In other news, insider Valueact Capital Master Fund, sold 882,206 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $42.84, for a total value of $37,793,705.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J. Christopher Kirk sold 20,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $43.32, for a total transaction of $866,400.00. Following the completion of the sale, the executive vice president now owns 118,162 shares of the company’s stock, valued at approximately $5,118,777.84. The disclosure for this sale can be found here. Insiders sold a total of 2,960,687 shares of company stock valued at $126,486,405 in the last 90 days. Company insiders own 1.00% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This news story was originally published by Watch List News and is owned by of Watch List News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.watchlistnews.com/brokers-offer-predictions-for-cbre-group-incs-fy2018-earnings-cbg/1855115.html.
About CBRE Group
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.
Receive News & Ratings for CBRE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group and related companies with MarketBeat.com's FREE daily email newsletter.