$5.90 Billion in Sales Expected for CBRE Group Inc (CBRE) This Quarter

Brokerages expect CBRE Group Inc (NYSE:CBRE) to post $5.90 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for CBRE Group’s earnings. The highest sales estimate is $5.95 billion and the lowest is $5.85 billion. CBRE Group reported sales of $4.34 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 35.9%. The business is expected to report its next quarterly earnings report on Thursday, February 14th.

On average, 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 financial year, analysts anticipate that the company will post sales of $22.26 billion, with estimates ranging from $22.01 billion to $22.62 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover CBRE Group.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, November 1st. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. The business had revenue of $5.26 billion for the quarter, compared to analysts’ expectations of $5.17 billion. CBRE Group had a return on equity of 23.45% and a net margin of 4.32%. CBRE Group’s revenue was up 13.4% compared to the same quarter last year.

CBRE has been the topic of a number of research analyst reports. Bank of America lowered their price target on CBRE Group from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. ValuEngine downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Barclays lifted their price target on CBRE Group from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, August 30th. Finally, Zacks Investment Research upgraded 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. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $52.56.

Shares of NYSE CBRE traded down $0.45 during mid-day trading on Monday, reaching $43.14. The company had a trading volume of 1,220,724 shares, compared to its average volume of 1,920,714. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $14.57 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.03 and a beta of 1.76. CBRE Group has a 1-year low of $38.05 and a 1-year high of $50.43.

Hedge funds have recently modified their holdings of the company. Andra AP fonden acquired a new stake in CBRE Group during the third quarter valued at $9,618,000. Retirement Systems of Alabama boosted its position in CBRE Group by 0.8% during the third quarter. Retirement Systems of Alabama now owns 457,944 shares of the financial services provider’s stock valued at $20,195,000 after purchasing an additional 3,791 shares during the last quarter. First Quadrant L P CA acquired a new stake in CBRE Group during the third quarter valued at $18,766,000. Palo Capital Inc. acquired a new stake in CBRE Group during the third quarter valued at $1,069,000. Finally, HGK Asset Management Inc. acquired a new stake in CBRE Group during the third quarter valued at $424,000. 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.

Read More: Depreciation

Get a free copy of the Zacks research report on CBRE Group (CBRE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for CBRE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply