CBRE Group (CBG) Cut to Market Perform at JMP Securities

CBRE Group (NYSE:CBG) was downgraded by investment analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, Marketbeat Ratings reports. The analysts noted that the move was a valuation call.

A number of other brokerages have also recently commented on CBG. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Wednesday, January 10th. Bank of America boosted their price objective on CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Evercore ISI started coverage on CBRE Group in a research note on Monday, January 22nd. They issued an “in-line” rating and a $48.00 target price on the stock. Finally, Barclays restated a “buy” rating and issued a $47.00 target price on shares of CBRE Group in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.57.

CBRE Group (CBG) traded up $0.40 during trading hours on Wednesday, reaching $46.21. The company had a trading volume of 1,087,216 shares, compared to its average volume of 1,770,000. The firm has a market capitalization of $15,690.00, a price-to-earnings ratio of 20.00, a PEG ratio of 1.26 and a beta of 1.87. 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 fifty-two week low of $29.84 and a fifty-two week high of $46.24.

CBRE Group (NYSE:CBG) last released its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $3.45 billion. During the same period last year, the firm posted $0.50 earnings per share. CBRE Group’s revenue was up 11.2% compared to the same quarter last year. sell-side analysts anticipate that CBRE Group will post 2.66 EPS for the current fiscal year.

In other news, insider Valueact Capital Master Fund, sold 882,206 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $42.84, for a total value of $37,793,705.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Calvin W. Frese, Jr. sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $41.01, for a total value of $820,200.00. Following the completion of the transaction, the insider now owns 201,673 shares in the company, valued at $8,270,609.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,988,565 shares of company stock valued at $127,627,161. 1.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of CBRE Group by 4.6% in the second quarter. Vanguard Group Inc. now owns 29,111,569 shares of the financial services provider’s stock worth $1,059,662,000 after purchasing an additional 1,289,368 shares during the last quarter. FMR LLC boosted its holdings in shares of CBRE Group by 10.6% in the second quarter. FMR LLC now owns 10,837,894 shares of the financial services provider’s stock valued at $394,500,000 after purchasing an additional 1,040,182 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of CBRE Group by 13,158.3% in the second quarter. Janus Henderson Group PLC now owns 5,733,291 shares of the financial services provider’s stock valued at $208,691,000 after purchasing an additional 5,690,048 shares during the period. Prudential Financial Inc. raised its stake in CBRE Group by 3.7% in the third quarter. Prudential Financial Inc. now owns 3,761,965 shares of the financial services provider’s stock worth $142,503,000 after buying an additional 135,037 shares in the last quarter. Finally, Hosking Partners LLP raised its stake in CBRE Group by 0.5% in the third quarter. Hosking Partners LLP now owns 2,436,782 shares of the financial services provider’s stock worth $92,305,000 after buying an additional 11,712 shares in the last quarter. Institutional investors own 94.64% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece of content was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/28/cbre-group-cbg-cut-to-market-perform-at-jmp-securities.html.

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.

Analyst Recommendations for CBRE Group (NYSE:CBG)

Leave a Reply