CBRE Group Inc (CBRE) Expected to Post Quarterly Sales of $5.90 Billion

Equities analysts expect CBRE Group Inc (NYSE:CBRE) to post $5.90 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for CBRE Group’s earnings, with the lowest sales estimate coming in at $5.85 billion and the highest estimate coming in at $5.95 billion. CBRE Group posted sales of $4.34 billion during the same quarter last year, which would indicate a positive year over year growth rate of 35.9%. The company is expected to announce its next quarterly earnings results on Thursday, February 14th.

According to Zacks, analysts expect that CBRE Group will report full-year sales of $20.92 billion for the current year, with estimates ranging from $20.88 billion to $20.99 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $22.26 billion, with estimates ranging from $22.01 billion to $22.62 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow CBRE Group.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.75 by $0.04. CBRE Group had a net margin of 4.32% and a return on equity of 23.45%. The company had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.17 billion. CBRE Group’s revenue was up 13.4% on a year-over-year basis.

Several equities research analysts have commented on the stock. ValuEngine lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Bank of America lowered their price target on shares of CBRE Group from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Zacks Investment Research raised 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 Monday, August 6th. Finally, Barclays upped their price target on shares of CBRE Group from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 30th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. CBRE Group has an average rating of “Buy” and a consensus target price of $52.56.

NYSE:CBRE opened at $42.73 on Monday. CBRE Group has a one year low of $38.05 and a one year high of $50.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $14.57 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 1.03 and a beta of 1.76.

Several institutional investors have recently modified their holdings of CBRE. Vanguard Group Inc. acquired a new position in shares of CBRE Group in the third quarter worth about $2,289,833,000. BlackRock Inc. acquired a new position in shares of CBRE Group in the third quarter worth about $1,011,772,000. ValueAct Holdings L.P. acquired a new position in shares of CBRE Group in the third quarter worth about $878,336,000. JPMorgan Chase & Co. acquired a new position in shares of CBRE Group in the third quarter worth about $638,351,000. Finally, FMR LLC acquired a new position in shares of CBRE Group in the third quarter worth about $327,956,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

About CBRE Group

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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