Brokerages Expect CBRE Group Inc (CBRE) Will Announce Earnings of $0.75 Per Share

Wall Street analysts expect CBRE Group Inc (NYSE:CBRE) to report $0.75 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for CBRE Group’s earnings. The highest EPS estimate is $0.78 and the lowest is $0.73. CBRE Group posted earnings per share of $0.64 in the same quarter last year, which indicates a positive year-over-year growth rate of 17.2%. The business is expected to report its next quarterly earnings report before the market opens on Thursday, November 1st.

On average, analysts expect that CBRE Group will report full year earnings of $3.17 per share for the current financial year, with EPS estimates ranging from $3.15 to $3.20. For the next financial year, analysts forecast that the business will report earnings of $3.37 per share, with EPS estimates ranging from $3.28 to $3.50. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover CBRE Group.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.72 billion. CBRE Group had a net margin of 4.21% and a return on equity of 23.53%. The company’s revenue was up 15.1% on a year-over-year basis.

A number of brokerages have recently issued reports on CBRE. Zacks Investment Research downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Barclays raised their price target on shares of CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, August 30th. Finally, ValuEngine downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. CBRE Group currently has an average rating of “Buy” and a consensus target price of $52.19.

In other news, CEO William F. Concannon sold 28,878 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $47.47, for a total transaction of $1,370,838.66. Following the completion of the sale, the chief executive officer now owns 204,631 shares in the company, valued at approximately $9,713,833.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Andra AP fonden purchased a new position in CBRE Group in the 3rd quarter valued at approximately $9,618,000. Jaffetilchin Investment Partners LLC purchased a new position in CBRE Group in the 3rd quarter valued at approximately $493,000. Atria Investments LLC boosted its position in CBRE Group by 14.4% in the 2nd quarter. Atria Investments LLC now owns 8,151 shares of the financial services provider’s stock valued at $389,000 after buying an additional 1,024 shares during the period. Suntrust Banks Inc. purchased a new position in CBRE Group in the 1st quarter valued at approximately $1,458,000. Finally, Aurora Investment Counsel purchased a new position in CBRE Group in the 3rd quarter valued at approximately $1,716,000. Hedge funds and other institutional investors own 94.47% of the company’s stock.

CBRE stock opened at $40.29 on Thursday. The stock has a market capitalization of $13.63 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 0.97 and a beta of 1.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.13 and a quick ratio of 1.13. CBRE Group has a 12 month low of $38.05 and a 12 month high of $50.43.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.

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