CBRE Group (CBG) Earning Somewhat Favorable Press Coverage, Report Finds
Media coverage about CBRE Group (NYSE:CBG) has been trending somewhat positive this week, according to Accern. Accern rates the sentiment of news coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. CBRE Group earned a coverage optimism score of 0.22 on Accern’s scale. Accern also gave news headlines about the financial services provider an impact score of 46.6605930326016 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news headlines that may have impacted Accern’s analysis:
- CBRE Buys Medical Buildings in a Bid for Safety (finance.yahoo.com)
- CBRE Group, Inc. (CBG) Insider Sells $3,231,900.00 in Stock (americanbankingnews.com)
- Barclays PLC Raises CBRE Group, Inc. (CBG) Price Target to $43.00 (americanbankingnews.com)
- Zacks: Brokerages Expect CBRE Group, Inc. (NYSE:CBG) Will Announce Quarterly Sales of $3.43 Billion (americanbankingnews.com)
- CBRE Group, Inc. (CBG) Lowered to Sell at BidaskClub (americanbankingnews.com)
Shares of CBRE Group (CBG) opened at 36.13 on Wednesday. The company’s 50-day moving average is $37.10 and its 200 day moving average is $35.21. The firm has a market capitalization of $12.17 billion, a price-to-earnings ratio of 17.63 and a beta of 1.83. CBRE Group has a 1-year low of $25.40 and a 1-year high of $38.99.
CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.12. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.39 billion. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, analysts expect that CBRE Group will post $2.58 EPS for the current fiscal year.
Several analysts recently commented on CBG shares. Zacks Investment Research lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $36.00 target price on shares of CBRE Group in a research note on Friday, July 21st. Barclays PLC increased their target price on shares of CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. UBS AG started coverage on shares of CBRE Group in a research note on Wednesday, July 26th. They set a “neutral” rating and a $41.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of CBRE Group in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $39.60.
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In related news, insider Robert E. Sulentic sold 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $35.91, for a total transaction of $3,231,900.00. Following the completion of the transaction, the insider now owns 833,590 shares in the company, valued at $29,934,216.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William F. Concannon sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $36.57, for a total transaction of $548,550.00. Following the transaction, the chief executive officer now owns 238,376 shares of the company’s stock, valued at approximately $8,717,410.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,627 shares of company stock valued at $6,054,206. Corporate insiders own 1.00% 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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