Brokers Set Expectations for CBRE Group, Inc.’s FY2024 Earnings (NYSE:CBRE)

CBRE Group, Inc. (NYSE:CBRE) – Equities researchers at Zacks Research increased their FY2024 earnings per share (EPS) estimates for shares of CBRE Group in a note issued to investors on Tuesday, April 23rd. Zacks Research analyst R. Department now anticipates that the financial services provider will earn $4.42 per share for the year, up from their previous estimate of $4.39. The consensus estimate for CBRE Group’s current full-year earnings is $4.44 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.

Several other research analysts also recently commented on CBRE. Keefe, Bruyette & Woods boosted their target price on CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. TheStreet raised CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. Raymond James boosted their target price on CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 25th. StockNews.com raised CBRE Group from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Jefferies Financial Group started coverage on CBRE Group in a report on Wednesday, April 10th. They issued a “hold” rating and a $107.00 target price on the stock. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.50.

CBRE Group Trading Up 0.3 %

CBRE stock opened at $87.01 on Thursday. The firm has a market cap of $26.71 billion, a P/E ratio of 27.45 and a beta of 1.42. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.31. CBRE Group has a 1-year low of $64.63 and a 1-year high of $98.65. The business’s 50 day moving average is $92.25 and its 200-day moving average is $85.20.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Humankind Investments LLC raised its stake in CBRE Group by 5.3% during the 4th quarter. Humankind Investments LLC now owns 2,900 shares of the financial services provider’s stock worth $270,000 after buying an additional 146 shares during the period. Tower Research Capital LLC TRC raised its stake in CBRE Group by 0.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 42,490 shares of the financial services provider’s stock worth $3,955,000 after buying an additional 149 shares during the period. Schechter Investment Advisors LLC raised its stake in CBRE Group by 6.4% during the 3rd quarter. Schechter Investment Advisors LLC now owns 2,787 shares of the financial services provider’s stock worth $206,000 after buying an additional 168 shares during the period. Greenfield Savings Bank raised its stake in CBRE Group by 4.2% during the 4th quarter. Greenfield Savings Bank now owns 4,544 shares of the financial services provider’s stock worth $423,000 after buying an additional 184 shares during the period. Finally, Park Avenue Securities LLC raised its stake in CBRE Group by 0.7% during the 1st quarter. Park Avenue Securities LLC now owns 29,404 shares of the financial services provider’s stock worth $2,859,000 after buying an additional 194 shares during the period. 98.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CEO John E. Durburg sold 25,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total value of $2,305,000.00. Following the transaction, the chief executive officer now directly owns 207,856 shares in the company, valued at approximately $19,164,323.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO John E. Durburg sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total value of $2,305,000.00. Following the transaction, the chief executive officer now directly owns 207,856 shares in the company, valued at approximately $19,164,323.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chandra Dhandapani sold 11,925 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 127,064 shares in the company, valued at $11,947,827.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,592 shares of company stock worth $3,675,752. 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.