CBRE Group, Inc. (CBG) Posts Earnings Results, Beats Expectations By $0.10 EPS
CBRE Group, Inc. (NYSE:CBG) announced its quarterly earnings data on Friday. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10, Bloomberg Earnings reports. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the previous year, the firm earned $0.50 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. CBRE Group updated its FY17 guidance to $2.58-2.68 EPS.
CBRE Group (CBG) traded up $0.79 on Friday, reaching $40.04. The company had a trading volume of 2,014,309 shares, compared to its average volume of 1,510,210. The firm has a market cap of $13,250.44, a P/E ratio of 15.62 and a beta of 1.83.
A number of research analysts have issued reports on CBG shares. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, July 7th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $36.00 target price on shares of CBRE Group in a research note on Friday, July 21st. UBS AG assumed coverage on CBRE Group in a report on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $38.00 price target on shares of CBRE Group in a report on Wednesday, August 2nd. Finally, 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, July 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $39.60.
In related news, insider Robert E. Sulentic sold 90,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $35.91, for a total transaction of $3,231,900.00. Following the sale, the insider now owns 833,590 shares in the company, valued at $29,934,216.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Calvin W. Frese, Jr. sold 11,307 shares of the company’s stock in a transaction dated 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 owns 246,473 shares in the company, valued at approximately $9,858,920. The disclosure for this sale can be found here. Insiders have sold 5,706,467 shares of company stock worth $205,082,221 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.
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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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