Zacks: Brokerages Anticipate CBRE Group, Inc. (CBG) Will Post Earnings of $0.94 Per Share
Analysts predict that CBRE Group, Inc. (NYSE:CBG) will announce $0.94 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for CBRE Group’s earnings, with estimates ranging from $0.93 to $0.95. CBRE Group posted earnings per share of $0.93 in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.1%. The firm is expected to announce its next earnings report on Friday, February 9th.
On average, analysts expect that CBRE Group will report full year earnings of $2.67 per share for the current fiscal year, with EPS estimates ranging from $2.66 to $2.67. For the next financial year, analysts forecast that the business will report earnings of $2.76 per share, with EPS estimates ranging from $2.58 to $2.96. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CBRE Group.
CBRE Group (NYSE:CBG) last issued its earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.10. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the company posted $0.50 earnings per share. CBRE Group’s revenue was up 11.2% on a year-over-year basis.
In other CBRE Group news, CEO William F. Concannon sold 25,000 shares of CBRE Group stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $39.02, for a total transaction of $975,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Lafitte sold 27,775 shares of CBRE Group stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $35.71, for a total transaction of $991,845.25. Following the sale, the insider now directly owns 308,567 shares of the company’s stock, valued at approximately $11,018,927.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,634,713 shares of company stock worth $202,642,013. Corporate insiders own 1.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation lifted its stake in shares of CBRE Group by 5,136.8% in the 3rd quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 3,493 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of CBRE Group in the 3rd quarter valued at $439,000. Chevy Chase Trust Holdings Inc. lifted its stake in shares of CBRE Group by 1.1% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 263,392 shares of the financial services provider’s stock valued at $9,977,000 after purchasing an additional 2,987 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of CBRE Group in the 3rd quarter valued at $216,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of CBRE Group by 70.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,724 shares of the financial services provider’s stock valued at $11,884,000 after purchasing an additional 130,144 shares during the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.
CBRE Group (NYSE CBG) opened at $42.18 on Wednesday. The stock has a market cap of $14,318.38, a PE ratio of 15.92, a price-to-earnings-growth ratio of 1.22 and a beta of 1.83. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.66. CBRE Group has a twelve month low of $27.68 and a twelve month high of $42.23.
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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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