CBRE Group’s (CBG) “Hold” Rating Reaffirmed at Keefe, Bruyette & Woods

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.

TRADEMARK VIOLATION NOTICE: “CBRE Group’s (CBG) “Hold” Rating Reaffirmed at Keefe, Bruyette & Woods” was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this story on another site, it was illegally stolen and reposted in violation of international copyright legislation. The legal version of this story can be viewed at https://sportsperspectives.com/2017/07/21/cbre-groups-cbg-hold-rating-reaffirmed-at-keefe-bruyette-woods.html.

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.

Receive News & Ratings for CBRE Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply