CBRE Group (CBG) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of CBRE Group (NYSE:CBG) from a hold rating to a buy rating in a research note issued to investors on Friday. The brokerage currently has $48.00 price target on the financial services provider’s stock.

According to Zacks, “Shares of CBRE Group have outperformed the industry it belongs to in the past six months. Moreover, the stock has seen the Zacks Consensus Estimate for 2018 earnings per share being revised upward in a week’s time. Recently, the company reported fourth-quarter 2017 adjusted earnings per share of 99 cents, beating the Zacks Consensus Estimate of 93 cents. Results indicate strong revenue growth in all three of its global regions. Specifically, the company experienced solid growth in occupier outsourcing and leasing fee revenue. Its extensive real estate products and services offerings, improving leasing and outsourcing business, strategic in-fill acquisitions, transformational deals, and healthy balance sheet are expected to drive results. However, competition from international, regional and local players as well as its exposure to unfavorable foreign currency movements remain concerns.”

CBG has been the topic of a number of other research reports. Raymond James Financial assumed coverage on CBRE Group in a report on Tuesday. They issued an outperform rating and a $55.00 target price on the stock. JMP Securities downgraded CBRE Group from an outperform rating to a market perform rating in a report on Wednesday, January 24th. They noted that the move was a valuation call. Bank of America increased their target price on CBRE Group from $42.00 to $44.00 and gave the company a buy rating in a report on Monday, November 6th. Evercore ISI began coverage on CBRE Group in a research note on Monday, January 22nd. They issued an in-line rating and a $48.00 price objective on the stock. Finally, Barclays raised their price objective on CBRE Group from $47.00 to $52.00 and gave the stock an overweight rating in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $45.50.

CBRE Group (CBG) traded down $0.02 during mid-day trading on Friday, reaching $41.90. The company’s stock had a trading volume of 3,083,168 shares, compared to its average volume of 2,010,000. CBRE Group has a 52 week low of $32.30 and a 52 week high of $46.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.28 and a current ratio of 1.08. The company has a market capitalization of $14,220.00, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.83.

CBRE Group (NYSE:CBG) last posted its earnings results on Thursday, February 8th. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.06. CBRE Group had a return on equity of 25.03% and a net margin of 4.87%. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the company earned $0.93 earnings per share. CBRE Group’s revenue was up 13.4% on a year-over-year basis. sell-side analysts anticipate that CBRE Group will post 3.1 EPS for the current year.

In other news, Director Holdings L.P. Valueact sold 84,500 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $42.82, for a total value of $3,618,290.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Valueact Capital Master Fund, sold 882,206 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $42.84, for a total value of $37,793,705.04. The disclosure for this sale can be found here. Insiders sold 2,960,687 shares of company stock worth $126,486,405 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Thrivent Financial For Lutherans raised its stake in CBRE Group by 1.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 17,969 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 270 shares during the period. Advisor Group Inc. raised its stake in CBRE Group by 6.6% during the 2nd quarter. Advisor Group Inc. now owns 5,480 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 337 shares during the period. Virtu KCG Holdings LLC raised its stake in CBRE Group by 19.6% during the 2nd quarter. Virtu KCG Holdings LLC now owns 8,414 shares of the financial services provider’s stock valued at $306,000 after purchasing an additional 1,378 shares during the period. Dimensional Fund Advisors LP raised its stake in CBRE Group by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,588,246 shares of the financial services provider’s stock valued at $57,816,000 after purchasing an additional 27,854 shares during the period. Finally, Stifel Financial Corp raised its stake in CBRE Group by 7.4% during the 2nd quarter. Stifel Financial Corp now owns 38,846 shares of the financial services provider’s stock valued at $1,415,000 after purchasing an additional 2,692 shares during the period. 94.66% of the stock is currently owned by hedge funds and other institutional investors.

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CBRE Group Company Profile

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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