CBRE Group, Inc. (NYSE:CBG)‘s stock had its “hold” rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a report issued on Friday. They currently have a $36.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential downside of 4.99% from the company’s current price.
CBG has been the topic of several other reports. Zacks Investment Research cut CBRE Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a research report on Monday, April 17th. Finally, Barclays PLC lifted their price target on CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday.
CBRE Group (NYSE CBG) traded down 0.42% during mid-day trading on Friday, reaching $37.73. The company’s stock had a trading volume of 383,135 shares. CBRE Group has a 52 week low of $25.40 and a 52 week high of $38.07. The firm has a market capitalization of $12.71 billion, a P/E ratio of 20.63 and a beta of 1.83. The firm’s 50 day moving average price is $36.05 and its 200 day moving average price is $34.39.
CBRE Group (NYSE:CBG) last issued its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.10. CBRE Group had a return on equity of 26.31% and a net margin of 4.69%. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same period last year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that CBRE Group will post $2.42 EPS for the current fiscal year.
In other news, CEO William F. Concannon sold 15,000 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $36.57, for a total transaction of $548,550.00. Following the completion of the sale, the chief executive officer now directly owns 238,376 shares of the company’s stock, valued at approximately $8,717,410.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in CBRE Group during the first quarter valued at $116,000. Harbour Capital Advisors LLC acquired a new stake in shares of CBRE Group during the first quarter valued at approximately $118,000. Pettee Investors Inc. acquired a new stake in shares of CBRE Group during the first quarter valued at approximately $203,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of CBRE Group during the first quarter valued at approximately $206,000. Finally, Harbor Advisors LLC acquired a new stake in shares of CBRE Group during the first quarter valued at approximately $209,000. 96.11% of the stock is owned by institutional investors and hedge funds.
About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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