Brokerages expect CBRE Group Inc (NYSE:CBRE) to report $4.62 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for CBRE Group’s earnings. The highest sales estimate is $4.81 billion and the lowest is $4.45 billion. CBRE Group posted sales of $3.34 billion in the same quarter last year, which suggests a positive year over year growth rate of 38.3%. The firm is expected to announce its next earnings results on Thursday, July 26th.
According to Zacks, analysts expect that CBRE Group will report full year sales of $19.77 billion for the current year, with estimates ranging from $19.30 billion to $20.32 billion. For the next financial year, analysts anticipate that the firm will report sales of $21.37 billion per share, with estimates ranging from $21.04 billion to $21.89 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for CBRE Group.
CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. CBRE Group had a return on equity of 24.15% and a net margin of 4.48%. The firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the company earned $0.43 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis.
Several research analysts have recently issued reports on CBRE shares. Goldman Sachs Group started coverage on CBRE Group in a research report on Tuesday, April 3rd. They issued a “buy” rating and a $54.00 price target on the stock. Barclays restated a “buy” rating and issued a $58.00 price target (up from $56.00) on shares of CBRE Group in a research report on Sunday, May 13th. JPMorgan Chase & Co. raised their price target on 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 CBRE Group from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, May 10th. Finally, ValuEngine upgraded 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 assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.55.
In other CBRE Group news, insider Robert E. Sulentic sold 5,000 shares of CBRE Group stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $46.84, for a total value of $234,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Curtis F. Feeny sold 7,447 shares of CBRE Group stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $46.27, for a total value of $344,572.69. Following the completion of the sale, the director now directly owns 4,453 shares in the company, valued at approximately $206,040.31. The disclosure for this sale can be found here. Insiders have sold a total of 29,222 shares of company stock worth $1,371,056 in the last ninety days. 0.88% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of CBRE Group in the 1st quarter valued at about $1,125,000. Suntrust Banks Inc. acquired a new stake in shares of CBRE Group in the 1st quarter valued at about $1,458,000. Allianz Asset Management GmbH acquired a new stake in shares of CBRE Group in the 1st quarter valued at about $10,230,000. Amalgamated Bank acquired a new stake in shares of CBRE Group in the 1st quarter valued at about $1,864,000. Finally, Gyroscope Capital Management Group LLC acquired a new stake in shares of CBRE Group in the 1st quarter valued at about $385,000. 93.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CBRE Group traded up $0.36, hitting $48.30, during midday trading on Monday, MarketBeat Ratings reports. The company had a trading volume of 1,273,749 shares, compared to its average volume of 2,050,490. CBRE Group has a 12 month low of $34.38 and a 12 month high of $48.95. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $16.49 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.19 and a beta of 1.72.
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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