CBRE Group Inc (CBRE) Expected to Announce Earnings of $0.71 Per Share

Equities research analysts expect CBRE Group Inc (NYSE:CBRE) to announce earnings per share of $0.71 for the current fiscal quarter, Zacks reports. Three analysts have made estimates for CBRE Group’s earnings. The highest EPS estimate is $0.76 and the lowest is $0.67. CBRE Group posted earnings of $0.65 per share in the same quarter last year, which indicates a positive year over year growth rate of 9.2%. The firm is scheduled to report its next earnings results on Thursday, July 26th.

On average, analysts expect that CBRE Group will report full year earnings of $3.13 per share for the current year, with EPS estimates ranging from $3.10 to $3.17. For the next year, analysts anticipate that the business will report earnings of $3.33 per share, with EPS estimates ranging from $3.20 to $3.45. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for CBRE Group.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.05. The business had revenue of $4.67 billion during the quarter, compared to analyst estimates of $3.32 billion. CBRE Group had a net margin of 4.48% and a return on equity of 24.15%. The company’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share.

A number of equities analysts have weighed in on the stock. Barclays upped their price target on shares of CBRE Group from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, March 15th. JPMorgan Chase & Co. upped their price target on shares of CBRE Group from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 6th. Raymond James upgraded shares of CBRE Group from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, May 10th. Goldman Sachs Group assumed coverage on shares of CBRE Group in a research report on Tuesday, April 3rd. They issued a “buy” rating and a $54.00 price target for the company. Finally, ValuEngine upgraded shares of CBRE Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $48.55.

In related news, Director Curtis F. Feeny sold 7,447 shares of the company’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $46.27, for a total transaction of $344,572.69. Following the completion of the transaction, the director now owns 4,453 shares in the company, valued at $206,040.31. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael J. Lafitte sold 16,775 shares of the company’s stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $47.23, for a total transaction of $792,283.25. Following the transaction, the insider now owns 339,780 shares of the company’s stock, valued at approximately $16,047,809.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,222 shares of company stock valued at $1,371,056. 0.88% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of CBRE Group during the first quarter worth $979,545,000. ValueAct Holdings L.P. bought a new position in shares of CBRE Group during the first quarter worth $940,477,000. JPMorgan Chase & Co. bought a new position in shares of CBRE Group during the first quarter worth $631,852,000. Principal Financial Group Inc. bought a new position in shares of CBRE Group during the first quarter worth $460,482,000. Finally, Cantillon Capital Management LLC bought a new position in shares of CBRE Group during the first quarter worth $326,924,000. Hedge funds and other institutional investors own 93.00% of the company’s stock.

Shares of CBRE Group traded up $0.36, reaching $48.30, during mid-day trading on Friday, according to Marketbeat Ratings. The stock had a trading volume of 1,273,749 shares, compared to its average volume of 2,050,490. The firm has a market cap of $16.49 billion, a P/E ratio of 17.77, a PEG ratio of 1.19 and a beta of 1.72. CBRE Group has a 12 month low of $34.38 and a 12 month high of $48.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.18.

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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Earnings History and Estimates for CBRE Group (NYSE:CBRE)

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