Brokerages expect CBRE Group, Inc. (NYSE:CBRE) to post sales of $5.93 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for CBRE Group’s earnings. The highest sales estimate is $5.95 billion and the lowest is $5.92 billion. CBRE Group posted sales of $5.38 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 10.2%. The business is expected to announce its next quarterly earnings report on Friday, July 30th.
On average, analysts expect that CBRE Group will report full year sales of $25.79 billion for the current year, with estimates ranging from $25.66 billion to $25.92 billion. For the next fiscal year, analysts forecast that the business will post sales of $28.26 billion, with estimates ranging from $27.93 billion to $28.59 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for CBRE Group.
CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, April 29th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.16. CBRE Group had a return on equity of 16.81% and a net margin of 3.54%. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.75 billion.
A number of equities research analysts recently commented on CBRE shares. Zacks Investment Research lowered CBRE Group from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a research report on Thursday, May 13th. Raymond James increased their price target on CBRE Group from $89.00 to $93.00 and gave the stock an “outperform” rating in a research report on Monday, May 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. CBRE Group currently has a consensus rating of “Hold” and an average target price of $75.20.
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In other CBRE Group news, insider Chandra Dhandapani sold 11,000 shares of the stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $84.93, for a total value of $934,230.00. Following the transaction, the insider now directly owns 77,636 shares in the company, valued at approximately $6,593,625.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert E. Sulentic sold 30,000 shares of the stock in a transaction on Monday, March 15th. The shares were sold at an average price of $79.33, for a total value of $2,379,900.00. Following the completion of the transaction, the chief executive officer now owns 864,947 shares in the company, valued at $68,616,245.51. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its position in shares of CBRE Group by 220.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 51,386 shares of the financial services provider’s stock worth $3,223,000 after purchasing an additional 35,364 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of CBRE Group in the 4th quarter worth $1,861,000. Achmea Investment Management B.V. boosted its position in shares of CBRE Group by 8.7% in the 4th quarter. Achmea Investment Management B.V. now owns 159,041 shares of the financial services provider’s stock worth $9,976,000 after purchasing an additional 12,727 shares during the last quarter. Ellevest Inc. boosted its position in shares of CBRE Group by 14.5% in the 4th quarter. Ellevest Inc. now owns 2,533 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 321 shares during the last quarter. Finally, Olstein Capital Management L.P. bought a new position in shares of CBRE Group in the 4th quarter worth $3,136,000. Institutional investors and hedge funds own 94.07% of the company’s stock.
NYSE CBRE opened at $89.04 on Thursday. The company has a market cap of $29.89 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 2.08 and a beta of 1.50. CBRE Group has a one year low of $41.03 and a one year high of $90.21. The stock’s 50 day simple moving average is $84.63. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.37.
About CBRE Group
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.
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