CBRE Group (CBG) Raised to “Outperform” at Evercore ISI

CBRE Group (NYSE:CBG) was upgraded by Evercore ISI from an “in-line” rating to an “outperform” rating in a report issued on Friday, Marketbeat.com reports. The firm currently has a $50.00 target price on the financial services provider’s stock. Evercore ISI’s target price points to a potential upside of 19.33% from the company’s current price.

CBG has been the topic of several other reports. Zacks Investment Research cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Barclays restated a “buy” rating and issued a $47.00 price target on shares of CBRE Group in a report on Wednesday, December 27th. ValuEngine upgraded shares of CBRE Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Bank of America raised their price target on shares of CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a report on Monday, November 6th. Finally, JMP Securities lowered shares of CBRE Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 24th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $45.50.

Shares of CBRE Group (NYSE CBG) opened at $41.90 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 1.28. CBRE Group has a 12-month low of $32.30 and a 12-month high of $46.60. The stock has a market cap of $14,220.00, a P/E ratio of 20.64, a P/E/G ratio of 1.04 and a beta of 1.83.

CBRE Group (NYSE:CBG) last released its earnings results on Thursday, February 8th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.06. CBRE Group had a net margin of 4.87% and a return on equity of 25.03%. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same period last year, the company earned $0.93 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. analysts anticipate that CBRE Group will post 3.08 EPS for the current fiscal year.

In other news, insider Robert E. Sulentic sold 45,000 shares of CBRE Group stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $43.16, for a total transaction of $1,942,200.00. Following the sale, the insider now owns 637,971 shares in the company, valued at $27,534,828.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Valueact Capital Master Fund, sold 882,206 shares of CBRE Group stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $42.84, for a total transaction of $37,793,705.04. The disclosure for this sale can be found here. Insiders have sold 2,960,687 shares of company stock worth $126,486,405 in the last quarter. Insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CBG. Toronto Dominion Bank grew its position in shares of CBRE Group by 25.6% during the second quarter. Toronto Dominion Bank now owns 101,905 shares of the financial services provider’s stock worth $3,709,000 after buying an additional 20,739 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of CBRE Group by 70.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,724 shares of the financial services provider’s stock worth $11,884,000 after buying an additional 130,144 shares in the last quarter. Chicago Equity Partners LLC acquired a new stake in shares of CBRE Group during the third quarter worth approximately $748,000. Candriam Luxembourg S.C.A. grew its position in shares of CBRE Group by 1.0% during the third quarter. Candriam Luxembourg S.C.A. now owns 589,741 shares of the financial services provider’s stock worth $22,339,000 after buying an additional 6,060 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of CBRE Group by 4.6% during the third quarter. Legal & General Group Plc now owns 1,540,359 shares of the financial services provider’s stock worth $58,349,000 after buying an additional 67,625 shares in the last quarter. Institutional investors own 94.66% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright laws. The original version of this piece of content can be read at https://www.americanbankingnews.com/2018/02/09/cbre-group-cbg-rating-increased-to-outperform-at-evercore-isi.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)

Receive News & Ratings for CBRE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply