CBRE Group Inc (NYSE:CBG) – Research analysts at Wedbush lifted their Q1 2018 earnings estimates for CBRE Group in a report released on Monday. Wedbush analyst J. Weaver now forecasts that the financial services provider will post earnings per share of $0.46 for the quarter, up from their previous estimate of $0.39. Wedbush currently has a “Outperform” rating and a $46.50 price target on the stock. Wedbush also issued estimates for CBRE Group’s Q2 2018 earnings at $0.74 EPS, Q3 2018 earnings at $0.88 EPS, Q4 2018 earnings at $0.98 EPS, FY2018 earnings at $3.07 EPS, Q1 2019 earnings at $0.62 EPS, Q2 2019 earnings at $0.71 EPS and FY2019 earnings at $3.40 EPS.
CBG has been the topic of several other research reports. Raymond James Financial assumed coverage on CBRE Group in a research note on Tuesday, February 6th. They set an “outperform” rating and a $55.00 target price on the stock. Zacks Investment Research raised CBRE Group from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Friday. JMP Securities cut CBRE Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Bank of America boosted their price target 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, Evercore ISI initiated coverage on CBRE Group in a research note on Monday, January 22nd. They issued an “in-line” rating and a $48.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $46.56.
CBRE Group (NYSE:CBG) last released its earnings results on Thursday, February 8th. The financial services provider reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.06. CBRE Group had a return on equity of 25.03% and a net margin of 4.87%. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the business posted $0.93 EPS. The business’s revenue for the quarter was up 13.4% on a year-over-year basis.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank lifted its holdings in CBRE Group by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 101,905 shares of the financial services provider’s stock worth $3,709,000 after purchasing an additional 20,739 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in 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 worth $11,884,000 after purchasing an additional 130,144 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in CBRE Group in the 3rd quarter worth approximately $748,000. Candriam Luxembourg S.C.A. lifted its holdings in CBRE Group by 1.0% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 589,741 shares of the financial services provider’s stock worth $22,339,000 after purchasing an additional 6,060 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in CBRE Group by 4.6% in the 3rd quarter. Legal & General Group Plc now owns 1,540,359 shares of the financial services provider’s stock worth $58,349,000 after purchasing an additional 67,625 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.
In related news, Director Frederic V. Malek sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $42.87, for a total value of $2,143,500.00. Following the completion of the sale, the director now owns 267,446 shares of the company’s stock, valued at approximately $11,465,410.02. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Valueact Capital Master Fund, sold 882,206 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $42.84, for a total value of $37,793,705.04. The disclosure for this sale can be found here. In the last three months, insiders sold 2,960,687 shares of company stock valued at $126,486,405. 1.00% of the stock is currently owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 22nd. Investors of record on Monday, April 23rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.32%.
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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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