CBRE Group (CBRE) Announces Earnings Results

CBRE Group (NYSE:CBRE) posted its earnings results on Wednesday. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.20, MarketWatch Earnings reports. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. CBRE Group had a return on equity of 23.93% and a net margin of 4.98%. CBRE Group’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share.

Shares of CBRE traded down $0.48 during midday trading on Friday, hitting $48.13. 5,475 shares of the company’s stock traded hands, compared to its average volume of 1,567,557. CBRE Group has a 1 year low of $37.45 and a 1 year high of $52.41. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The firm has a market cap of $16.64 billion, a PE ratio of 14.73, a P/E/G ratio of 1.32 and a beta of 1.71.

Several analysts have recently commented on the company. Zacks Investment Research upgraded CBRE Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. William Blair reiterated an “outperform” rating on shares of CBRE Group in a report on Wednesday, February 13th. Bank of America set a $54.00 price objective on CBRE Group and gave the company a “hold” rating in a report on Friday, March 8th. Finally, JMP Securities reiterated a “hold” rating on shares of CBRE Group in a report on Monday, March 11th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $56.33.

In other news, Director Brandon B. Boze sold 6,700,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $49.51, for a total transaction of $331,717,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Laurence H. Midler sold 13,848 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.43, for a total value of $698,354.64. Following the sale, the executive vice president now owns 131,109 shares of the company’s stock, valued at approximately $6,611,826.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,864,454 shares of company stock valued at $340,096,303. Company insiders own 0.74% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC acquired a new position in shares of CBRE Group in the 4th quarter valued at $27,000. Rational Advisors LLC grew its position in shares of CBRE Group by 347.6% during the 1st quarter. Rational Advisors LLC now owns 640 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 497 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of CBRE Group by 1,895.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,377,536 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,308,488 shares during the period. CX Institutional acquired a new stake in shares of CBRE Group during the 1st quarter valued at about $35,000. Finally, Van ECK Associates Corp acquired a new stake in shares of CBRE Group during the 4th quarter valued at about $38,000. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

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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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Earnings History for CBRE Group (NYSE:CBRE)

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