CBRE Group Inc (CBRE) Expected to Announce Earnings of $0.75 Per Share

Brokerages forecast that CBRE Group Inc (NYSE:CBRE) will post earnings of $0.75 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for CBRE Group’s earnings, with the lowest EPS estimate coming in at $0.73 and the highest estimate coming in at $0.75. CBRE Group posted earnings of $0.64 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.2%. The firm is scheduled to report its next earnings report before the market opens on Thursday, November 1st.

According to Zacks, analysts expect that CBRE Group will report full year earnings of $3.16 per share for the current year, with EPS estimates ranging from $3.15 to $3.17. For the next year, analysts forecast that the firm will report earnings of $3.37 per share, with EPS estimates ranging from $3.28 to $3.50. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for CBRE Group.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.72 billion. CBRE Group had a net margin of 4.21% and a return on equity of 23.53%. The firm’s revenue was up 15.1% on a year-over-year basis.

CBRE has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, June 20th. Barclays upped their price target on shares of CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, August 30th. Finally, ValuEngine cut shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $52.19.

In other CBRE Group news, CEO William F. Concannon sold 28,878 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $47.47, for a total transaction of $1,370,838.66. Following the transaction, the chief executive officer now directly owns 204,631 shares in the company, valued at approximately $9,713,833.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Assetmark Inc. bought a new position in CBRE Group during the 1st quarter worth about $122,000. Legacy Private Trust Co. bought a new stake in shares of CBRE Group in the 2nd quarter valued at about $229,000. TLP Group LLC bought a new stake in shares of CBRE Group in the 1st quarter valued at about $227,000. Levin Capital Strategies L.P. bought a new stake in shares of CBRE Group in the 1st quarter valued at about $260,000. Finally, Keeley Teton Advisors LLC bought a new stake in shares of CBRE Group in the 1st quarter valued at about $260,000. Institutional investors own 94.78% of the company’s stock.

Shares of NYSE CBRE traded down $0.10 during mid-day trading on Monday, reaching $38.91. The company had a trading volume of 2,649,187 shares, compared to its average volume of 1,916,228. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.39. The stock has a market cap of $14.99 billion, a PE ratio of 14.36, a PEG ratio of 1.08 and a beta of 1.78. CBRE Group has a 52 week low of $38.53 and a 52 week high of $50.43.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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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