$3.39 Billion in Sales Expected for CBRE Group Inc (CBG) This Quarter
Brokerages expect CBRE Group Inc (NYSE:CBG) to post sales of $3.39 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for CBRE Group’s earnings. The lowest sales estimate is $3.37 billion and the highest is $3.4 billion. CBRE Group reported sales of $3.21 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.6%. The firm is expected to report its next quarterly earnings results on Thursday, July 27th.
According to Zacks, analysts expect that CBRE Group will report full year sales of $3.39 billion for the current fiscal year, with estimates ranging from $13.71 billion to $13.96 billion. For the next year, analysts forecast that the business will report sales of $14.64 billion per share, with estimates ranging from $14.27 billion to $14.89 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for CBRE Group.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.10. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.91 billion. CBRE Group had a net margin of 4.38% and a return on equity of 26.37%. CBRE Group’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS.
A number of research analysts have recently commented on the company. Wedbush reissued an “outperform” rating and set a $35.00 price target (down from $38.00) on shares of CBRE Group in a report on Wednesday, February 15th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of CBRE Group in a report on Thursday, March 16th. Finally, Zacks Investment Research lowered CBRE Group from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th.
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In other news, Director Laura D. Tyson sold 3,966 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $36.33, for a total transaction of $144,084.78. Following the transaction, the director now directly owns 30,278 shares of the company’s stock, valued at $1,099,999.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James R. Groch sold 85,000 shares of the firm’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $34.74, for a total value of $2,952,900.00. Following the transaction, the chief financial officer now directly owns 480,483 shares in the company, valued at $16,691,979.42. The disclosure for this sale can be found here. Insiders have sold 165,175 shares of company stock worth $5,784,723 over the last three months. Corporate insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CBG. State of Alaska Department of Revenue acquired a new position in shares of CBRE Group during the first quarter worth approximately $116,000. Parallel Advisors LLC acquired a new position in shares of CBRE Group during the fourth quarter worth approximately $117,000. Pettee Investors Inc. acquired a new position in shares of CBRE Group during the first quarter worth approximately $203,000. Cutter & CO Brokerage Inc. acquired a new position in shares of CBRE Group during the fourth quarter worth approximately $210,000. Finally, Smith Salley & Associates acquired a new position in shares of CBRE Group during the first quarter worth approximately $227,000. 95.98% of the stock is currently owned by institutional investors.
Shares of CBRE Group (NYSE:CBG) traded down 3.09% during trading on Thursday, reaching $35.15. 848,607 shares of the company’s stock traded hands. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 19.22 and a beta of 1.70. CBRE Group has a 1-year low of $24.11 and a 1-year high of $36.81. The company has a 50 day moving average of $34.43 and a 200-day moving average of $32.22.
CBRE Group Company Profile
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as 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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