CBRE Group (NYSE:CBRE) Updates FY 2024 Earnings Guidance

CBRE Group (NYSE:CBRE) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 4.950-5.050 for the period, compared to the consensus earnings per share estimate of 4.810. The company issued revenue guidance of -.

CBRE Group Price Performance

Shares of CBRE Group stock opened at $123.12 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $118.97 and its two-hundred day moving average price is $101.77. CBRE Group has a 52 week low of $64.63 and a 52 week high of $126.00. The stock has a market cap of $37.78 billion, a PE ratio of 38.36 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. CBRE Group’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. As a group, sell-side analysts anticipate that CBRE Group will post 4.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on CBRE. Raymond James lifted their price target on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Evercore ISI lifted their price target on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. UBS Group dropped their price target on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Keefe, Bruyette & Woods lifted their price target on CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, CBRE Group currently has a consensus rating of “Moderate Buy” and an average target price of $113.83.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the sale, the chief executive officer now directly owns 217,094 shares in the company, valued at $24,894,168.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lindsey S. Caplan sold 2,000 shares of CBRE Group stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $109.87, for a total value of $219,740.00. Following the sale, the chief accounting officer now owns 16,606 shares of the company’s stock, valued at approximately $1,824,501.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,232 shares of company stock valued at $3,058,787 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

About CBRE Group

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.