CBRE Group, Inc. (CBG) Releases FY17 Earnings Guidance
CBRE Group, Inc. (NYSE:CBG) issued an update on its FY17 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $2.58-2.68 for the period, compared to the Thomson Reuters consensus estimate of $2.57.
CBRE Group (NYSE:CBG) last posted its earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.10. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same period last year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis.
Several research firms have issued reports on CBG. Wedbush reaffirmed an outperform rating and set a $38.00 price target on shares of CBRE Group in a research note on Wednesday, August 2nd. Barclays PLC raised their price target on shares of CBRE Group from $40.00 to $42.00 and gave the stock an overweight rating in a research note on Tuesday, July 18th. UBS AG began coverage on shares of CBRE Group in a research note on Wednesday, July 26th. They set a neutral rating and a $41.00 price target on the stock. BidaskClub cut shares of CBRE Group from a hold rating to a sell rating in a research note on Friday, August 11th. Finally, Zacks Investment Research raised shares of CBRE Group from a hold rating to a buy rating and set a $40.00 price target on the stock in a research note on Friday, July 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $39.60.
In related news, insider Calvin W. Frese, Jr. sold 11,307 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The shares were 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 $9,858,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William F. Concannon sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $39.02, for a total transaction of $975,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,706,467 shares of company stock worth $205,082,221 over the last ninety days. 1.00% of the stock is owned by corporate insiders.
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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