CBRE Group (NYSE:CBRE) Releases FY 2024 Earnings Guidance

CBRE Group (NYSE:CBRE) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 4.950-5.050 for the period, compared to the consensus EPS estimate of 4.810. The company issued revenue guidance of -. CBRE Group also updated its FY24 guidance to $4.95-5.05 EPS.

Analyst Ratings Changes

Several brokerages recently issued reports on CBRE. UBS Group cut their target price on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Raymond James increased their price objective on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Morgan Stanley initiated coverage on CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 target price for the company. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Keefe, Bruyette & Woods increased their price target on CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.83.

CBRE Group Stock Down 0.4 %

CBRE traded down $0.52 during midday trading on Friday, reaching $132.98. 1,397,964 shares of the company were exchanged, compared to its average volume of 1,644,749. The company has a market cap of $40.80 billion, a price-to-earnings ratio of 41.59 and a beta of 1.40. CBRE Group has a one year low of $64.63 and a one year high of $136.06. The company’s fifty day moving average price is $118.97 and its 200 day moving average price is $101.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.12.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. CBRE Group’s revenue was up 14.8% compared to the same quarter last year. As a group, analysts expect that CBRE Group will post 4.81 EPS for the current year.

Insider Activity at CBRE Group

In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the sale, the director now owns 51,244 shares in the company, valued at approximately $5,739,328. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the sale, the chief executive officer now directly owns 217,094 shares in the company, valued at approximately $24,894,168.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,232 shares of company stock valued at $2,839,047 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

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.