$3.39 Billion in Sales Expected for CBRE Group Inc (CBG) This Quarter
Wall Street analysts predict that CBRE Group Inc (NYSE:CBG) will post $3.39 billion in sales for the current 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 $3.40 billion. CBRE Group posted sales of $3.21 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The company is scheduled to report its next quarterly earnings report on Thursday, July 27th.
According to Zacks, analysts expect that CBRE Group will report full-year sales of $3.39 billion for the current financial year, with estimates ranging from $13.71 billion to $13.96 billion. For the next financial 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 a mean average based on a survey of sell-side research firms that cover CBRE Group.
CBRE Group (NYSE:CBG) last released its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.91 billion. CBRE Group had a return on equity of 26.37% and a net margin of 4.38%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS.
A number of research analysts have commented on CBG shares. Zacks Investment Research downgraded CBRE Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods restated a “hold” rating on shares of CBRE Group in a research note on Thursday, March 16th. Finally, Wedbush restated an “outperform” rating and issued a $38.00 target price on shares of CBRE Group in a research note on Monday, April 17th.
CBRE Group (NYSE CBG) opened at 35.47 on Friday. The stock has a 50 day moving average price of $34.81 and a 200-day moving average price of $33.12. CBRE Group has a 12-month low of $24.11 and a 12-month high of $36.81. The stock has a market capitalization of $11.95 billion, a P/E ratio of 19.39 and a beta of 1.70.
In other CBRE Group news, Director Laura D. Tyson sold 3,966 shares of the business’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $36.33, for a total value of $144,084.78. Following the completion of the sale, the director now owns 30,278 shares of the company’s stock, valued at $1,099,999.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in shares of CBRE Group during the first quarter worth $116,000. Parallel Advisors LLC acquired a new position in CBRE Group during the fourth quarter valued at $117,000. Harbour Capital Advisors LLC acquired a new position in CBRE Group during the first quarter valued at $118,000. Pettee Investors Inc. acquired a new position in CBRE Group during the first quarter valued at $203,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in CBRE Group during the first quarter valued at $206,000. 95.98% of the stock is owned by institutional investors.
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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