CBRE Group’s (CBG) “Hold” Rating Reaffirmed at Keefe, Bruyette & Woods
CBRE Group, Inc. (NYSE:CBG)‘s stock had its “hold” rating reissued by investment analysts at Keefe, Bruyette & Woods in a research report issued on Friday. They presently have a $36.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential downside of 4.99% from the company’s current price.
CBG has been the subject of a number of other reports. Barclays PLC boosted their price target on CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Friday, July 7th. Finally, Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of CBRE Group in a report on Monday, April 17th.
Shares of CBRE Group (CBG) traded down 0.50% during midday trading on Friday, reaching $37.70. 415,565 shares of the company’s stock were exchanged. The company’s 50-day moving average is $36.05 and its 200-day moving average is $34.39. CBRE Group has a one year low of $25.40 and a one year high of $38.07. The stock has a market cap of $12.70 billion, a P/E ratio of 20.61 and a beta of 1.83.
CBRE Group (NYSE:CBG) last announced its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.10. CBRE Group had a return on equity of 26.31% and a net margin of 4.69%. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the previous year, the company posted $0.36 earnings per share. CBRE Group’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts expect that CBRE Group will post $2.42 earnings per share for the current fiscal year.
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In other news, CEO William F. Concannon sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $36.57, for a total transaction of $548,550.00. Following the completion of the transaction, the chief executive officer now directly owns 238,376 shares of the company’s stock, valued at approximately $8,717,410.32. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new position in shares of CBRE Group during the first quarter valued at $116,000. Harbour Capital Advisors LLC acquired a new position in shares of CBRE Group during the first quarter valued at $118,000. Pettee Investors Inc. acquired a new position in shares of CBRE Group during the first quarter valued at $203,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of CBRE Group during the first quarter valued at $206,000. Finally, Harbor Advisors LLC acquired a new position in shares of CBRE Group during the first quarter valued at $209,000. 96.11% of the stock is owned by institutional investors and hedge funds.
About CBRE Group
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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