CBRE Group (NYSE:CBRE) Posts Earnings Results, Beats Expectations By $0.44 EPS

CBRE Group (NYSE:CBREGet Rating) posted its quarterly earnings data on Thursday. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.44, Briefing.com reports. CBRE Group had a net margin of 6.59% and a return on equity of 25.77%. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.72 billion. During the same period in the previous year, the firm posted $1.36 EPS. The firm’s revenue was up 20.3% compared to the same quarter last year.

CBRE Group Stock Performance

Shares of NYSE:CBRE opened at $83.97 on Friday. The company has a market cap of $27.45 billion, a price-to-earnings ratio of 14.09 and a beta of 1.38. The company has a 50-day moving average price of $77.41 and a 200-day moving average price of $85.91. The company has a current ratio of 1.14, a quick ratio of 1.20 and a debt-to-equity ratio of 0.36. CBRE Group has a 12 month low of $67.68 and a 12 month high of $111.00.

Analyst Ratings Changes

Several analysts have weighed in on the stock. StockNews.com downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. Raymond James boosted their price target on shares of CBRE Group from $110.00 to $113.00 and gave the stock a “strong-buy” rating in a research note on Friday. Finally, Evercore ISI set a $94.00 price target on shares of CBRE Group in a research note on Monday, June 20th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, CBRE Group currently has a consensus rating of “Buy” and an average price target of $109.80.

Insider Activity

In other news, CEO Daniel G. Queenan sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $83.16, for a total transaction of $415,800.00. Following the completion of the transaction, the chief executive officer now directly owns 188,841 shares of the company’s stock, valued at $15,704,017.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On CBRE Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd grew its holdings in CBRE Group by 78.5% in the first quarter. Covestor Ltd now owns 1,085 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 477 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of CBRE Group by 7,628.6% during the first quarter. Brown Brothers Harriman & Co. now owns 1,623 shares of the financial services provider’s stock valued at $149,000 after buying an additional 1,602 shares during the last quarter. Enlightenment Research LLC purchased a new stake in shares of CBRE Group during the first quarter valued at approximately $229,000. Ergoteles LLC purchased a new stake in shares of CBRE Group during the first quarter valued at approximately $259,000. Finally, Fund Management at Engine No. 1 LLC purchased a new stake in shares of CBRE Group during the first quarter valued at approximately $259,000. Hedge funds and other institutional investors own 96.30% of the company’s stock.

About CBRE Group

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CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services 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.

Further Reading

Earnings History for CBRE Group (NYSE:CBRE)

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