CBRE Group, Inc. (CBG) Expected to Announce Quarterly Sales of $3.42 Billion
Brokerages predict that CBRE Group, Inc. (NYSE:CBG) will report $3.42 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for CBRE Group’s earnings, with estimates ranging from $3.34 billion to $3.51 billion. CBRE Group reported sales of $3.19 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.2%. The company is scheduled to issue its next earnings results before the market opens on Friday, November 3rd.
On average, analysts expect that CBRE Group will report full-year sales of $3.42 billion for the current fiscal year, with estimates ranging from $13.79 billion to $14.05 billion. For the next fiscal year, analysts forecast that the company will post sales of $14.68 billion per share, with estimates ranging from $14.49 billion to $15.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for CBRE Group.
CBRE Group (NYSE:CBG) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.12. The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.39 billion. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS.
A number of research firms have commented on CBG. Barclays PLC lifted their price objective on shares of CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 15th. BidaskClub cut shares of CBRE Group from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Wedbush reaffirmed an “outperform” rating and set a $38.00 price objective on shares of CBRE Group in a research report on Wednesday, August 2nd. UBS AG began coverage on shares of CBRE Group in a research report on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price objective for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 price objective on shares of CBRE Group in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $39.60.
Shares of CBRE Group (CBG) opened at 39.59 on Friday. The company’s 50-day moving average is $38.15 and its 200-day moving average is $36.33. The firm has a market capitalization of $13.34 billion, a price-to-earnings ratio of 19.32 and a beta of 1.82. CBRE Group has a 12-month low of $25.40 and a 12-month high of $40.35.
In other news, insider Valueact Capital Master Fund, sold 5,500,000 shares of CBRE Group stock in a transaction on Friday, September 15th. The stock was sold at an average price of $35.90, for a total transaction of $197,450,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Calvin W. Frese, Jr. sold 11,307 shares of CBRE Group stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $40.00, for a total value of $452,280.00. Following the sale, the insider now directly owns 246,473 shares of the company’s stock, valued at approximately $9,858,920. The disclosure for this sale can be found here. Insiders have sold 5,732,094 shares of company stock valued at $206,038,877 in the last three months. Insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Aviva PLC lifted its holdings in shares of CBRE Group by 1.5% during the second quarter. Aviva PLC now owns 181,175 shares of the financial services provider’s stock worth $6,595,000 after buying an additional 2,720 shares in the last quarter. Hosking Partners LLP lifted its holdings in shares of CBRE Group by 1.6% during the second quarter. Hosking Partners LLP now owns 2,425,070 shares of the financial services provider’s stock worth $88,273,000 after buying an additional 38,977 shares in the last quarter. Calamos Advisors LLC lifted its holdings in shares of CBRE Group by 47.9% during the second quarter. Calamos Advisors LLC now owns 165,516 shares of the financial services provider’s stock worth $6,025,000 after buying an additional 53,616 shares in the last quarter. Balyasny Asset Management LLC lifted its holdings in shares of CBRE Group by 57.8% during the second quarter. Balyasny Asset Management LLC now owns 101,263 shares of the financial services provider’s stock worth $3,686,000 after buying an additional 37,092 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its holdings in shares of CBRE Group by 347.4% during the second quarter. Commonwealth Bank of Australia now owns 21,364 shares of the financial services provider’s stock worth $776,000 after buying an additional 16,589 shares in the last quarter. 95.52% 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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