FY2024 EPS Estimates for CBRE Group, Inc. (NYSE:CBRE) Lifted by Zacks Research

CBRE Group, Inc. (NYSE:CBRE) – Equities research analysts at Zacks Research upped their FY2024 EPS estimates for CBRE Group in a research report issued on Tuesday, April 23rd. Zacks Research analyst R. Department now expects that the financial services provider will post earnings per share of $4.42 for the year, up from their previous forecast of $4.39. The consensus estimate for CBRE Group’s current full-year earnings is $4.45 per share. Zacks Research also issued estimates for CBRE Group’s Q4 2024 earnings at $1.75 EPS, Q2 2025 earnings at $1.52 EPS, Q4 2025 earnings at $1.80 EPS and FY2025 earnings at $5.72 EPS.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, February 15th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.17. The company had revenue of $8.95 billion during the quarter, compared to the consensus estimate of $8.44 billion. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the firm earned $1.33 EPS.

Other research analysts also recently issued research reports about the company. Raymond James lifted their price target on CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 25th. Evercore ISI lifted their target price on shares of CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 2nd. StockNews.com raised shares of CBRE Group from a “hold” rating to a “buy” rating in a report on Tuesday. Jefferies Financial Group assumed coverage on shares of CBRE Group in a research note on Wednesday, April 10th. They set a “hold” rating and a $107.00 price objective for the company. Finally, TheStreet upgraded CBRE Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CBRE Group presently has an average rating of “Moderate Buy” and a consensus price target of $99.50.

CBRE Group Stock Performance

Shares of CBRE stock opened at $87.28 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market cap of $26.79 billion, a PE ratio of 27.53 and a beta of 1.42. CBRE Group has a 1 year low of $64.63 and a 1 year high of $98.65. The stock has a fifty day moving average price of $92.13 and a 200 day moving average price of $85.30.

Institutional Investors Weigh In On CBRE Group

A number of institutional investors have recently bought and sold shares of CBRE. UMB Bank n.a. boosted its holdings in shares of CBRE Group by 21.5% in the 1st quarter. UMB Bank n.a. now owns 2,850 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 505 shares during the last quarter. Prestige Wealth Management Group LLC lifted its stake in shares of CBRE Group by 16,613.6% in the 1st quarter. Prestige Wealth Management Group LLC now owns 3,677 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 3,655 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in shares of CBRE Group during the 1st quarter worth about $200,000. New York State Teachers Retirement System grew its holdings in shares of CBRE Group by 3.4% during the 1st quarter. New York State Teachers Retirement System now owns 361,841 shares of the financial services provider’s stock worth $35,185,000 after purchasing an additional 12,063 shares during the period. Finally, Osborne Partners Capital Management LLC increased its position in CBRE Group by 1.7% during the 1st quarter. Osborne Partners Capital Management LLC now owns 62,408 shares of the financial services provider’s stock worth $6,069,000 after purchasing an additional 1,071 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CBRE Group news, CEO John E. Durburg sold 25,000 shares of CBRE Group stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $92.20, for a total value of $2,305,000.00. Following the completion of the sale, the chief executive officer now directly owns 207,856 shares of the company’s stock, valued at approximately $19,164,323.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO John E. Durburg sold 25,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the transaction, the chief executive officer now directly owns 207,856 shares in the company, valued at $19,164,323.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chandra Dhandapani sold 11,925 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $94.03, for a total value of $1,121,307.75. Following the completion of the sale, the chief executive officer now directly owns 127,064 shares in the company, valued at $11,947,827.92. The disclosure for this sale can be found here. Insiders have sold 39,592 shares of company stock valued at $3,675,752 in the last ninety days. Insiders own 0.54% of the company’s stock.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; 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.