CBRE Group, Inc. (CBG) Expected to Announce Earnings of $0.54 Per Share
Equities research analysts forecast that CBRE Group, Inc. (NYSE:CBG) will report earnings per share (EPS) of $0.54 for the current quarter, according to Zacks. Three analysts have provided estimates for CBRE Group’s earnings. The lowest EPS estimate is $0.50 and the highest is $0.57. CBRE Group posted earnings of $0.52 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.8%. The business is scheduled to announce its next quarterly earnings results on Thursday, July 27th.
On average, analysts expect that CBRE Group will report full year earnings of $2.40 per share for the current year, with EPS estimates ranging from $2.38 to $2.43. For the next year, analysts expect that the business will report earnings of $2.52 per share, with EPS estimates ranging from $2.42 to $2.59. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover CBRE Group.
CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.10. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.91 billion. CBRE Group had a return on equity of 26.31% and a net margin of 4.69%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS.
A number of brokerages have issued reports on CBG. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of CBRE Group in a report on Thursday, March 16th. Zacks Investment Research downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $38.00 price target on shares of CBRE Group in a report on Monday, April 17th.
Shares of CBRE Group (NYSE:CBG) traded up 2.03% during midday trading on Wednesday, hitting $37.14. The company had a trading volume of 1,207,697 shares. The firm has a market capitalization of $12.51 billion, a PE ratio of 20.31 and a beta of 1.79. CBRE Group has a 12 month low of $24.11 and a 12 month high of $37.25. The company has a 50-day moving average of $35.00 and a 200 day moving average of $33.69.
A number of hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new stake in shares of CBRE Group during the first quarter worth about $116,000. Harbour Capital Advisors LLC purchased a new stake in CBRE Group during the first quarter valued at $118,000. Pettee Investors Inc. purchased a new stake in CBRE Group during the first quarter valued at $203,000. Cambridge Investment Research Advisors Inc. purchased a new stake in CBRE Group during the first quarter valued at $206,000. Finally, Harbor Advisors LLC purchased a new stake in CBRE Group during the first quarter valued at $209,000. 97.30% of the stock is owned by institutional investors.
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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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