William Blair Comments on CBRE Group Inc.’s Q3 2016 Earnings (CBG)
CBRE Group Inc. (NYSE:CBG) – Equities researchers at William Blair cut their Q3 2016 EPS estimates for shares of CBRE Group in a report released on Sunday. William Blair analyst B. Dobell now forecasts that the brokerage will post earnings per share of $0.43 for the quarter, down from their previous estimate of $0.44. William Blair also issued estimates for CBRE Group’s FY2016 earnings at $2.18 EPS and FY2017 earnings at $2.46 EPS.
CBRE Group (NYSE:CBG) last issued its earnings results on Thursday, July 28th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. CBRE Group had a net margin of 4.28% and a return on equity of 26.58%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research raised CBRE Group from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Wedbush began coverage on CBRE Group in a report on Wednesday, October 5th. They set an “outperform” rating and a $35.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $38.60.
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Shares of CBRE Group (NYSE:CBG) traded down 1.13% during midday trading on Tuesday, hitting $27.16. 993,412 shares of the stock traded hands. The company has a market capitalization of $9.10 billion, a P/E ratio of 17.20 and a beta of 2.00. The stock has a 50 day moving average of $28.71 and a 200 day moving average of $28.83. CBRE Group has a 1-year low of $22.74 and a 1-year high of $38.49.
Several hedge funds and other institutional investors have recently modified their holdings of CBG. OMERS ADMINISTRATION Corp boosted its position in shares of CBRE Group by 20,636.6% in the second quarter. OMERS ADMINISTRATION Corp now owns 4,852,353 shares of the company’s stock worth $128,490,000 after buying an additional 4,828,953 shares during the last quarter. FMR LLC boosted its position in shares of CBRE Group by 26.5% in the second quarter. FMR LLC now owns 18,561,943 shares of the company’s stock worth $491,520,000 after buying an additional 3,884,677 shares during the last quarter. Cantillon Capital Management LLC boosted its position in shares of CBRE Group by 93.8% in the second quarter. Cantillon Capital Management LLC now owns 7,374,944 shares of the company’s stock worth $195,288,000 after buying an additional 3,569,932 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of CBRE Group by 169.9% in the second quarter. Ameriprise Financial Inc. now owns 4,111,691 shares of the company’s stock worth $108,877,000 after buying an additional 2,588,495 shares during the last quarter. Finally, Fiera Capital Corp bought a new position in shares of CBRE Group during the second quarter worth approximately $53,449,000. Institutional investors own 95.71% of the company’s stock.
In other news, insider Valueact Capital Master Fund, acquired 1,502,200 shares of the stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average price of $28.31 per share, for a total transaction of $42,527,282.00. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James R. Groch sold 20,000 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $30.00, for a total value of $600,000.00. Following the transaction, the chief financial officer now owns 538,281 shares in the company, valued at approximately $16,148,430. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company is a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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