CBRE Group (NYSE:CBRE) Announces Quarterly Earnings Results

CBRE Group (NYSE:CBRE) posted its quarterly earnings data on Friday. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.69 by $0.09, RTT News reports. CBRE Group had a return on equity of 13.69% and a net margin of 3.09%. The company had revenue of $7.94 billion during the quarter, compared to analyst estimates of $7.94 billion. During the same period in the previous year, the business earned $0.92 EPS. CBRE Group’s quarterly revenue was up 7.1% on a year-over-year basis. 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 Trading Down 0.2 %

CBRE traded down $0.18 during trading hours on Friday, reaching $86.61. The company’s stock had a trading volume of 2,301,063 shares, compared to its average volume of 1,585,100. CBRE Group has a fifty-two week low of $64.63 and a fifty-two week high of $98.65. The stock has a market cap of $26.58 billion, a PE ratio of 27.32 and a beta of 1.44. The business’s 50-day moving average is $91.77 and its 200-day moving average is $85.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.17 and a quick ratio of 1.17.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 2,667 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $93.53, for a total value of $249,444.51. Following the transaction, the chief financial officer now directly owns 72,350 shares in the company, valued at $6,766,895.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other CBRE Group 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 transaction, the chief executive officer now directly owns 127,064 shares in the company, valued at $11,947,827.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 2,667 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $93.53, for a total value of $249,444.51. Following the transaction, the chief financial officer now owns 72,350 shares in the company, valued at $6,766,895.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,592 shares of company stock worth $3,675,752. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CBRE shares. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a research note on Friday, February 16th. Raymond James upped their price target on CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 25th. Evercore ISI upped their price target on CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a research report on Tuesday, April 2nd. Jefferies Financial Group assumed coverage on CBRE Group in a research report on Wednesday, April 10th. They issued a “hold” rating and a $107.00 price target for the company. Finally, TheStreet upgraded CBRE Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $99.50.

CBRE Group Company Profile

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.