Zacks: Brokerages Expect CBRE Group Inc (CBG) Will Post Quarterly Sales of $3.20 Billion

Brokerages expect that CBRE Group Inc (NYSE:CBG) will announce sales of $3.20 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for CBRE Group’s earnings. The lowest sales estimate is $3.20 billion and the highest is $3.21 billion. CBRE Group posted sales of $2.98 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.4%. The company is expected to announce its next quarterly earnings report on Thursday, April 26th.

According to Zacks, analysts expect that CBRE Group will report full-year sales of $3.20 billion for the current financial year, with estimates ranging from $14.71 billion to $15.06 billion. For the next year, analysts expect that the firm will report sales of $15.62 billion per share, with estimates ranging from $15.34 billion to $15.89 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for CBRE Group.

CBRE Group (NYSE:CBG) last issued its earnings results on Thursday, February 8th. The financial services provider reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.06. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. CBRE Group had a return on equity of 25.03% and a net margin of 4.87%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 earnings per share.

A number of equities research analysts have commented on CBG shares. 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 price objective for the company. Zacks Investment Research cut CBRE Group from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Barclays reissued a “buy” rating and issued a $47.00 price objective on shares of CBRE Group in a research note on Wednesday, December 27th. Bank of America raised their price objective on CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Finally, ValuEngine raised CBRE Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $45.50.

Shares of CBRE Group (NYSE CBG) opened at $41.90 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.08 and a debt-to-equity ratio of 0.49. CBRE Group has a 1-year low of $32.30 and a 1-year high of $46.60. The firm has a market capitalization of $14,220.00, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 1.04 and a beta of 1.83.

In related news, Director Frederic V. Malek sold 6,900 shares of CBRE Group stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $43.28, for a total transaction of $298,632.00. Following the transaction, the director now owns 267,446 shares of the company’s stock, valued at $11,575,062.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP J. Christopher Kirk sold 20,000 shares of CBRE Group stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $43.32, for a total value of $866,400.00. Following the transaction, the executive vice president now directly owns 118,162 shares in the company, valued at approximately $5,118,777.84. The disclosure for this sale can be found here. Insiders sold 2,960,687 shares of company stock valued at $126,486,405 in the last three months. Insiders own 1.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Invictus RG purchased a new position in shares of CBRE Group during the third quarter valued at approximately $104,000. Fieldpoint Private Securities LLC purchased a new position in shares of CBRE Group during the third quarter valued at approximately $104,000. BB&T Investment Services Inc. purchased a new position in shares of CBRE Group during the second quarter valued at approximately $125,000. Cerebellum GP LLC purchased a new position in shares of CBRE Group during the fourth quarter valued at approximately $127,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of CBRE Group by 818.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,059 shares of the financial services provider’s stock valued at $132,000 after buying an additional 2,726 shares during the last quarter. 94.66% of the stock is currently owned by institutional investors.

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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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