CBRE Group (NYSE:CBRE) Issues Earnings Results

CBRE Group (NYSE:CBRE) released its quarterly earnings results on Friday. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.09, RTT News reports. The firm had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $7.94 billion. CBRE Group had a return on equity of 13.69% and a net margin of 3.09%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 EPS. CBRE Group updated its FY24 guidance to $4.25-4.65 EPS and its FY 2024 guidance to 4.250-4.650 EPS.

CBRE Group Stock Down 0.2 %

CBRE traded down $0.18 during trading on Friday, hitting $86.61. 2,301,063 shares of the company’s stock traded hands, compared to its average volume of 1,585,100. CBRE Group has a 12-month low of $64.63 and a 12-month high of $98.65. The company’s 50 day simple moving average is $91.70 and its two-hundred day simple moving average is $85.80. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $26.58 billion, a price-to-earnings ratio of 26.98 and a beta of 1.44.

Insider Transactions at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 2,667 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $93.53, for a total transaction of $249,444.51. Following the transaction, the chief financial officer now owns 72,350 shares in the company, valued at approximately $6,766,895.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Chandra Dhandapani sold 11,925 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the completion of the sale, the chief executive officer now owns 127,064 shares in the company, valued at $11,947,827.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Emma E. Giamartino sold 2,667 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the completion of the transaction, the chief financial officer now directly owns 72,350 shares in the company, valued at approximately $6,766,895.50. The disclosure for this sale can be found here. Insiders sold 39,592 shares of company stock worth $3,675,752 over the last quarter. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CBRE shares. Keefe, Bruyette & Woods increased their price target on shares of CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. Jefferies Financial Group started coverage on shares of CBRE Group in a research report on Wednesday, April 10th. They set a “hold” rating and a $107.00 price target for the company. StockNews.com cut shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday. Evercore ISI lifted their target price on shares of CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a report on Tuesday, April 2nd. Finally, Raymond James upped their price target on CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 25th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $99.50.

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.