CBRE Group (NYSE:CBRE) Issues Earnings Results, Beats Expectations By $0.14 EPS

CBRE Group (NYSE:CBRE) announced its quarterly earnings data on Thursday. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.14, Briefing.com reports. The firm had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 EPS. CBRE Group updated its FY 2024 guidance to 4.950-5.050 EPS and its FY24 guidance to $4.95-5.05 EPS.

CBRE Group Stock Down 0.7 %

Shares of CBRE traded down $0.96 during mid-day trading on Friday, hitting $132.54. 2,186,354 shares of the company’s stock were exchanged, compared to its average volume of 1,648,766. The company has a 50-day simple moving average of $119.43 and a 200 day simple moving average of $101.99. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $40.67 billion, a PE ratio of 41.29 and a beta of 1.40. CBRE Group has a 52 week low of $64.63 and a 52 week high of $136.06.

Analyst Ratings Changes

A number of research firms recently weighed in on CBRE. Morgan Stanley initiated coverage on shares of CBRE Group in a research note on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price target for the company. Raymond James upped their target price on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Evercore ISI upped their price objective on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Keefe, Bruyette & Woods raised their target price 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 analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.83.

Insider Buying and Selling

In other CBRE Group news, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the sale, the chief operating officer now directly owns 69,226 shares of the company’s stock, valued at $7,538,019.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other CBRE Group news, COO Vikramaditya Kohli sold 1,074 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $116,947.86. Following the completion of the sale, the chief operating officer now owns 69,226 shares in the company, valued at $7,538,019.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Emma E. Giamartino sold 3,311 shares of CBRE Group stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $360,534.79. Following the completion of the transaction, the chief financial officer now directly owns 71,969 shares of the company’s stock, valued at approximately $7,836,704.41. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,232 shares of company stock worth $2,839,047. 0.54% of the stock is owned by insiders.

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.