CBRE Group (NYSE:CBRE) Releases Earnings Results, Beats Expectations By $0.09 EPS

CBRE Group (NYSE:CBREGet Free Report) announced its quarterly earnings results on Friday. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09, RTT News reports. The business had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $7.94 billion. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. CBRE Group’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. CBRE Group updated its FY24 guidance to $4.25-4.65 EPS and its FY 2024 guidance to 4.250-4.650 EPS.

CBRE Group Trading Down 0.2 %

NYSE:CBRE opened at $86.61 on Monday. The business has a 50 day moving average price of $91.70 and a two-hundred day moving average price of $86.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.31. The company has a market cap of $26.58 billion, a P/E ratio of 26.98 and a beta of 1.44. CBRE Group has a twelve month low of $64.63 and a twelve month high of $98.65.

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 2,667 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $93.53, for a total transaction of $249,444.51. Following the completion of the transaction, the chief financial officer now directly owns 72,350 shares in the company, valued at approximately $6,766,895.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO John E. Durburg sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the transaction, the chief executive officer now directly owns 207,856 shares in the company, valued at approximately $19,164,323.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 2,667 shares of CBRE Group stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $93.53, for a total value of $249,444.51. Following the transaction, the chief financial officer now owns 72,350 shares of the company’s stock, valued at approximately $6,766,895.50. The disclosure for this sale can be found here. Insiders have sold a total of 39,592 shares of company stock valued at $3,675,752 over the last 90 days. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. StockNews.com lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. TheStreet upgraded CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods lifted their price objective on CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a report on Friday, February 16th. Jefferies Financial Group began coverage on CBRE Group in a research note on Wednesday, April 10th. They set a “hold” rating and a $107.00 target price for the company. Finally, Raymond James lifted their price target on shares of CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 25th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $99.50.

View Our Latest Research Report on CBRE Group

CBRE Group Company Profile

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CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.

See Also

Earnings History for CBRE Group (NYSE:CBRE)

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