CBRE Group Earns “Neutral” Rating from Zacks (CBG)
CBRE Group (NYSE:CBG)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Tuesday. They currently have a $33.00 price target on the stock. Zacks‘s price target points to a potential upside of 3.84% from the stock’s previous close.
Shares of CBRE Group (NYSE:CBG) traded down 0.03% on Tuesday, hitting $31.77. The stock had a trading volume of 465,729 shares. CBRE Group has a 1-year low of $21.71 and a 1-year high of $33.77. The stock has a 50-day moving average of $31.84 and a 200-day moving average of $29.. The company has a market cap of $10.488 billion and a P/E ratio of 27.66.
CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.36 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.36. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. On average, analysts predict that CBRE Group will post $1.69 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CBG. Analysts at JMP Securities raised their price target on shares of CBRE Group from $34.00 to $37.00 in a research note on Thursday, July 31st. Separately, analysts at Jefferies Group reiterated a “market outperform” rating on shares of CBRE Group in a research note on Wednesday, July 30th. They now have a $37.00 price target on the stock, up previously from $34.00. Finally, analysts at Barclays raised their price target on shares of CBRE Group from $30.00 to $33.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. CBRE Group presently has a consensus rating of “Buy” and a consensus price target of $35.20.
In other CBRE Group news, COO Michael J. Lafitte unloaded 28,565 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $31.50, for a total value of $899,797.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
CBRE Group, Inc is a holding company that conducts all of its operations through its indirect subsidiaries.
To view Zacks’ full report, visit Zacks’ official website.
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