CBRE Group Inc (CBG) Expected to Post Earnings of $0.94 Per Share
Equities research analysts predict that CBRE Group Inc (NYSE:CBG) will announce earnings per share (EPS) of $0.94 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for CBRE Group’s earnings. The lowest EPS estimate is $0.93 and the highest is $0.95. CBRE Group posted earnings per share of $0.93 during the same quarter last year, which suggests a positive year-over-year growth rate of 1.1%. The firm is expected to issue its next earnings results on Friday, February 9th.
According to Zacks, analysts expect that CBRE Group will report full-year earnings of $2.67 per share for the current fiscal year, with EPS estimates ranging from $2.66 to $2.67. For the next year, analysts anticipate that the firm will report earnings of $2.76 per share, with EPS estimates ranging from $2.58 to $2.96. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for CBRE Group.
CBRE Group (NYSE:CBG) last released its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate 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 in the previous year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year.
Several brokerages recently weighed in on CBG. Zacks Investment Research downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Monday. Barclays reissued a “buy” rating and issued a $47.00 target price on shares of CBRE Group in a research note on Wednesday, December 27th. Finally, Bank of America boosted their target price on shares of CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $41.00.
In other news, Director Holdings L.P. Valueact sold 84,500 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $42.82, for a total transaction of $3,618,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Calvin W. Frese, Jr. sold 11,307 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $40.00, for a total transaction of $452,280.00. Following 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. Insiders sold a total of 3,024,872 shares of company stock valued at $129,080,441 in the last three months. 1.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank increased its stake in shares of CBRE Group by 25.6% during the 2nd quarter. Toronto Dominion Bank now owns 101,905 shares of the financial services provider’s stock valued at $3,709,000 after acquiring an additional 20,739 shares during the last quarter. Balyasny Asset Management LLC increased its stake in shares of CBRE Group by 57.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 101,263 shares of the financial services provider’s stock valued at $3,686,000 after acquiring an additional 37,092 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of CBRE Group by 70.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,724 shares of the financial services provider’s stock valued at $11,884,000 after acquiring an additional 130,144 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in shares of CBRE Group during the 3rd quarter valued at about $748,000. Finally, Commonwealth Bank of Australia increased its stake in shares of CBRE Group by 347.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 21,364 shares of the financial services provider’s stock valued at $776,000 after acquiring an additional 16,589 shares during the last quarter. 94.58% of the stock is owned by institutional investors.
Shares of CBRE Group (CBG) traded up $0.31 during mid-day trading on Friday, reaching $45.15. 1,757,159 shares of the company traded hands, compared to its average volume of 2,060,067. CBRE Group has a 12-month low of $29.69 and a 12-month high of $45.50. The firm has a market cap of $15,330.00, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 1.23 and a beta of 1.87. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.66.
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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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