CBRE Group (CBG) Downgraded by Zacks Investment Research
CBRE Group (NYSE:CBG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Shares of CBRE Group have outperformed the industry it belongs to, in the past three months. Recently, the company announced the acquisition of a building technical engineering services provider in Italy — Geico Lender S.p.A. The move comes as part of the company’s strategic efforts to expand its facilities management expertise in the region. Notably, CBRE Group is experiencing strength in all three of its regional services businesses and solid growth in occupier outsourcing business. Going forward, its extensive real estate products and services offerings, improving leasing and outsourcing business, strategic in-fill acquisitions, transformational deals, and healthy balance sheet are expected to drive results. Yet, competition from international, regional and local players, its exposure to unfavorable foreign currency movements and uneasiness in certain global economies are concerns before CBRE.”
A number of other research analysts also recently weighed in on the stock. Bank of America raised their target price on shares of CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Barclays reaffirmed a “buy” rating and issued a $47.00 target price on shares of CBRE Group in a research report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. CBRE Group currently has an average rating of “Hold” and a consensus target price of $41.00.
Shares of CBRE Group (NYSE CBG) traded up $0.46 during trading hours on Monday, hitting $44.73. 917,682 shares of the company were exchanged, compared to its average volume of 1,910,000. CBRE Group has a fifty-two week low of $29.69 and a fifty-two week high of $44.89. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $15,180.00, a price-to-earnings ratio of 19.36, a price-to-earnings-growth ratio of 1.23 and a beta of 1.87.
CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. equities analysts predict that CBRE Group will post 2.67 earnings per share for the current year.
In related news, EVP J. Christopher Kirk sold 20,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $43.32, for a total value of $866,400.00. Following the completion of the transaction, the executive vice president now owns 118,162 shares of the company’s stock, valued at $5,118,777.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Calvin W. Frese, Jr. sold 11,307 shares of the firm’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $40.00, for a total transaction of $452,280.00. Following the completion of the transaction, the insider now directly owns 246,473 shares of the company’s stock, valued at approximately $9,858,920. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,024,872 shares of company stock valued at $129,080,441. 1.00% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Sentry Investment Management LLC grew its position in shares of CBRE Group by 0.3% in the 2nd quarter. Sentry Investment Management LLC now owns 21,861 shares of the financial services provider’s stock valued at $796,000 after acquiring an additional 59 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of CBRE Group by 1.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,240 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 99 shares during the period. Thrivent Financial For Lutherans grew its position in shares of CBRE Group by 1.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 17,969 shares of the financial services provider’s stock valued at $654,000 after acquiring an additional 270 shares during the period. Advisor Group Inc. grew its position in shares of CBRE Group by 6.6% in the 2nd quarter. Advisor Group Inc. now owns 5,480 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 337 shares during the period. Finally, Macquarie Group Ltd. grew its position in shares of CBRE Group by 5.6% in the 2nd quarter. Macquarie Group Ltd. now owns 7,600 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 400 shares during the period. 94.58% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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 Analyst Ratings Network's FREE daily email newsletter.