CBRE Group (NYSE:CBRE) Updates FY24 Earnings Guidance

CBRE Group (NYSE:CBRE) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.70-$4.90 for the period, compared to the consensus estimate of $4.47. CBRE Group also updated its FY 2024 guidance to 4.700-4.900 EPS.

Analyst Upgrades and Downgrades

Several brokerages have commented on CBRE. Morgan Stanley began coverage on shares of CBRE Group in a research report on Thursday. They set an equal weight rating and a $105.00 price target on the stock. Evercore ISI upped their target price on shares of CBRE Group from $103.00 to $104.00 and gave the company an in-line rating in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods upped their target price on shares of CBRE Group from $100.00 to $110.00 and gave the company a market perform rating in a report on Thursday. UBS Group dropped their target price on shares of CBRE Group from $100.00 to $95.00 and set a neutral rating on the stock in a report on Wednesday, July 3rd. Finally, Raymond James upped their target price on shares of CBRE Group from $122.00 to $124.00 and gave the company a strong-buy rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $106.14.

CBRE Group Price Performance

Shares of NYSE CBRE traded up $9.06 during trading hours on Thursday, hitting $107.36. 4,433,613 shares of the stock were exchanged, compared to its average volume of 1,663,046. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market cap of $32.94 billion, a PE ratio of 33.45 and a beta of 1.40. The company’s fifty day simple moving average is $90.20 and its two-hundred day simple moving average is $89.87. CBRE Group has a 1-year low of $64.63 and a 1-year high of $110.55.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Friday, May 3rd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.09. The business had revenue of $7.94 billion for the quarter, compared to analyst estimates of $7.94 billion. CBRE Group had a net margin of 3.06% and a return on equity of 12.96%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.92 EPS. On average, sell-side analysts predict that CBRE Group will post 4.48 EPS for the current year.

CBRE Group Company Profile

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.