CBRE Group Inc (CBG) Issues FY13 Earnings Guidance
CBRE Group Inc (NYSE:CBG) issued an update on its FY13 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.40-1.45 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.43, Stock Ratings Network reports.
On a related note, analysts at Zacks reiterated a neutral rating on shares of CBRE Group in a research note to investors on Thursday, August 22nd. They now have a $23.00 price target on the stock.
Shares of CBRE Group Inc (NYSE:CBG) traded up 4.23% during mid-day trading on Tuesday, hitting $24.40. 5,223,468 shares of the company’s stock traded hands. CBRE Group Inc has a one year low of $16.73 and a one year high of $25.69. The stock’s 50-day moving average is $22.65 and its 200-day moving average is $23.66. The company has a market cap of $7.989 billion and a price-to-earnings ratio of 24.21.
CBRE Group (NYSE:CBG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.34 by $0.04. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. On average, analysts predict that CBRE Group Inc will post $1.43 earnings per share for the current fiscal year.
CBRE Group, Inc, formerly CB Richard Ellis Group, Inc is a holding company that conducts all of its operations through its indirect subsidiaries.
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