Brokerages Anticipate CBRE Group, Inc. (CBG) Will Announce Quarterly Sales of $4.17 Billion
Equities analysts expect CBRE Group, Inc. (NYSE:CBG) to post sales of $4.17 billion for the current quarter, according to Zacks. Three analysts have issued estimates for CBRE Group’s earnings, with the lowest sales estimate coming in at $4.13 billion and the highest estimate coming in at $4.23 billion. CBRE Group reported sales of $3.82 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 9.2%. The company is expected to issue its next quarterly earnings results on Friday, February 9th.
According to Zacks, analysts expect that CBRE Group will report full-year sales of $4.17 billion for the current year, with estimates ranging from $13.79 billion to $14.11 billion. For the next fiscal year, analysts forecast that the firm will post sales of $14.93 billion per share, with estimates ranging from $14.54 billion to $15.20 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover CBRE Group.
CBRE Group (NYSE:CBG) last posted its quarterly earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the prior year, the business earned $0.50 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis.
In other CBRE Group news, CEO William F. Concannon sold 25,000 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $39.02, for a total transaction of $975,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Valueact Capital Master Fund, sold 5,500,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $35.90, for a total value of $197,450,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,526,111 shares of company stock worth $326,453,913. 1.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sentry Investment Management LLC increased its position in shares of CBRE Group by 0.3% in the second quarter. Sentry Investment Management LLC now owns 21,861 shares of the financial services provider’s stock worth $796,000 after purchasing an additional 59 shares during the period. Wetherby Asset Management Inc. increased its position in shares of CBRE Group by 0.7% in the second quarter. Wetherby Asset Management Inc. now owns 13,970 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 93 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of CBRE Group by 1.4% in the second quarter. Ameritas Investment Partners Inc. now owns 7,240 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 99 shares during the period. CIBC Asset Management Inc increased its position in shares of CBRE Group by 0.4% in the second quarter. CIBC Asset Management Inc now owns 29,272 shares of the financial services provider’s stock worth $1,066,000 after purchasing an additional 113 shares during the period. Finally, Cutter & CO Brokerage Inc. increased its position in shares of CBRE Group by 3.4% in the second quarter. Cutter & CO Brokerage Inc. now owns 6,902 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 225 shares during the period. Institutional investors own 95.00% of the company’s stock.
Shares of CBRE Group (CBG) opened at $43.37 on Tuesday. CBRE Group has a 12 month low of $29.69 and a 12 month high of $44.00. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $14,661.24, a price-to-earnings ratio of 16.30, a P/E/G ratio of 1.25 and a beta of 1.86.
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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