William Blair Weighs in on CBRE Group Inc.’s Q4 2016 Earnings (CBG)
CBRE Group Inc. (NYSE:CBG) – Equities research analysts at William Blair lowered their Q4 2016 earnings per share estimates for CBRE Group in a research note issued to investors on Sunday. William Blair analyst B. Dobell now anticipates that the brokerage will earn $0.86 per share for the quarter, down from their prior forecast of $0.87.
CBRE Group (NYSE:CBG) last announced its earnings results on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the 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 business earned $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the business posted $0.42 earnings per share. CBRE Group’s revenue for the quarter was up 34.2% on a year-over-year basis.
Several other research firms have also recently issued reports on CBG. Zacks Investment Research cut shares of CBRE Group from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Wedbush assumed coverage on shares of CBRE Group in a research note on Wednesday, October 5th. They issued an “outperform” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.60.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/william-blair-weighs-in-on-cbre-group-inc-s-q4-2016-earnings-cbg.html
Shares of CBRE Group (NYSE:CBG) traded down 0.315% during midday trading on Wednesday, reaching $26.935. 873,634 shares of the company’s stock traded hands. The firm has a market capitalization of $9.03 billion, a PE ratio of 17.058 and a beta of 1.99. CBRE Group has a one year low of $22.74 and a one year high of $38.49. The stock’s 50-day moving average price is $28.65 and its 200 day moving average price is $28.81.
In related news, insider Michael J. Lafitte sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $29.90, for a total value of $747,500.00. Following the completion of the sale, the insider now directly owns 338,053 shares of the company’s stock, valued at approximately $10,107,784.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Holdings L.P. Valueact bought 288,000 shares of CBRE Group stock in a transaction that occurred on Monday, August 1st. The stock was purchased at an average cost of $28.43 per share, with a total value of $8,187,840.00. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in CBRE Group by 5.8% in the second quarter. Vanguard Group Inc. now owns 26,286,199 shares of the company’s stock valued at $696,059,000 after buying an additional 1,445,635 shares in the last quarter. FMR LLC raised its stake in CBRE Group by 26.5% in the second quarter. FMR LLC now owns 18,561,943 shares of the company’s stock valued at $491,520,000 after buying an additional 3,884,677 shares in the last quarter. State Street Corp raised its stake in CBRE Group by 0.7% in the first quarter. State Street Corp now owns 12,402,038 shares of the company’s stock valued at $357,425,000 after buying an additional 88,054 shares in the last quarter. Principal Financial Group Inc. raised its stake in CBRE Group by 7.2% in the second quarter. Principal Financial Group Inc. now owns 9,612,021 shares of the company’s stock valued at $254,526,000 after buying an additional 643,550 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in CBRE Group by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,729,996 shares of the company’s stock valued at $222,778,000 after buying an additional 72,537 shares in the last quarter. 95.71% of the stock is owned by institutional investors.
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.
Receive News & Ratings for CBRE Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.