CBRE Group (NYSE:CBRE) Research Coverage Started at Compass Point

Compass Point started coverage on shares of CBRE Group (NYSE:CBRE) in a report issued on Wednesday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $54.00 target price on the financial services provider’s stock.

NYSE CBRE opened at $52.80 on Wednesday. CBRE Group has a one year low of $37.45 and a one year high of $53.15. The firm has a 50 day simple moving average of $49.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $17.76 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.32 and a beta of 1.70.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.20. CBRE Group had a net margin of 4.94% and a return on equity of 24.72%. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter last year, the firm posted $0.54 earnings per share. CBRE Group’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that CBRE Group will post 3.63 earnings per share for the current fiscal year.

In other news, Director Curtis F. Feeny sold 4,000 shares of CBRE Group stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $47.25, for a total transaction of $189,000.00. Following the sale, the director now owns 8,444 shares in the company, valued at $398,979. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert E. Sulentic sold 40,000 shares of CBRE Group stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the sale, the chief executive officer now owns 841,601 shares in the company, valued at approximately $42,080,050. The disclosure for this sale can be found here. Insiders sold 49,766 shares of company stock worth $2,461,995 in the last 90 days. 0.74% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of CBRE Group by 1.6% during the first quarter. BlackRock Inc. now owns 22,982,394 shares of the financial services provider’s stock valued at $1,136,481,000 after purchasing an additional 363,540 shares during the period. Harris Associates L P raised its stake in shares of CBRE Group by 7.5% during the fourth quarter. Harris Associates L P now owns 14,433,299 shares of the financial services provider’s stock valued at $577,909,000 after purchasing an additional 1,005,359 shares during the period. FMR LLC raised its stake in shares of CBRE Group by 3.5% during the fourth quarter. FMR LLC now owns 7,699,677 shares of the financial services provider’s stock valued at $308,296,000 after purchasing an additional 263,050 shares during the period. Wells Fargo & Company MN raised its stake in shares of CBRE Group by 5.5% during the first quarter. Wells Fargo & Company MN now owns 7,371,531 shares of the financial services provider’s stock valued at $364,523,000 after purchasing an additional 384,607 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its stake in shares of CBRE Group by 22.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 4,472,640 shares of the financial services provider’s stock valued at $179,085,000 after purchasing an additional 817,343 shares during the period. Institutional investors own 92.88% of the company’s stock.

CBRE Group Company Profile

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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Analyst Recommendations for CBRE Group (NYSE:CBRE)

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