CBRE Group (NYSE:CBRE) released its earnings results on Friday. The financial services provider reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02), MarketWatch Earnings reports. CBRE Group had a return on equity of 21.37% and a net margin of 5.23%. The business had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period last year, the business earned $0.81 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year.
CBRE opened at $43.81 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.20 and a current ratio of 1.20. CBRE Group has a fifty-two week low of $29.17 and a fifty-two week high of $64.75. The company has a market capitalization of $14.68 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.64 and a beta of 1.73. The stock has a fifty day moving average of $44.87 and a 200-day moving average of $48.08.
In other news, Director Shira Goodman acquired 2,600 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $38.73 per share, for a total transaction of $100,698.00. Following the completion of the acquisition, the director now directly owns 4,228 shares in the company, valued at approximately $163,750.44. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael J. Lafitte sold 39,196 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $51.73, for a total value of $2,027,609.08. Following the sale, the insider now owns 325,957 shares of the company’s stock, valued at approximately $16,861,755.61. The disclosure for this sale can be found here. Insiders sold 162,212 shares of company stock worth $7,109,705 in the last 90 days. 0.80% of the stock is owned by company insiders.
CBRE has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of CBRE Group from $52.00 to $51.00 and set a “market perform” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. downgraded shares of CBRE Group from an “overweight” rating to a “neutral” rating in a report on Sunday, April 19th. Raymond James cut their price target on shares of CBRE Group from $57.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday. Cfra lowered shares of CBRE Group from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $57.00 to $35.00 in a research report on Friday, May 8th. Finally, ValuEngine raised shares of CBRE Group from a “sell” rating to a “hold” rating in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $48.29.
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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