CBRE Group, Inc. (NYSE:CBRE) to Post Q2 2024 Earnings of $0.78 Per Share, Zacks Research Forecasts

CBRE Group, Inc. (NYSE:CBRE) – Research analysts at Zacks Research decreased their Q2 2024 EPS estimates for shares of CBRE Group in a research note issued on Friday, May 24th. Zacks Research analyst R. Department now expects that the financial services provider will post earnings per share of $0.78 for the quarter, down from their previous forecast of $0.93. The consensus estimate for CBRE Group’s current full-year earnings is $4.50 per share. Zacks Research also issued estimates for CBRE Group’s Q4 2024 earnings at $1.81 EPS, FY2024 earnings at $4.44 EPS, Q1 2025 earnings at $1.16 EPS, Q3 2025 earnings at $1.13 EPS, Q4 2025 earnings at $1.94 EPS, Q1 2026 earnings at $1.54 EPS and FY2026 earnings at $7.00 EPS.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Friday, May 3rd. The financial services provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. CBRE Group had a return on equity of 12.96% and a net margin of 3.06%. The firm had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $7.94 billion. During the same quarter last year, the firm posted $0.92 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year.

Several other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Evercore ISI increased their price target on shares of CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a research report on Tuesday, April 2nd. StockNews.com lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Jefferies Financial Group started coverage on CBRE Group in a report on Wednesday, April 10th. They set a “hold” rating and a $107.00 price objective for the company. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CBRE Group currently has a consensus rating of “Hold” and an average price target of $99.50.

CBRE Group Stock Performance

CBRE opened at $87.50 on Monday. The company has a market cap of $26.85 billion, a price-to-earnings ratio of 27.26 and a beta of 1.44. The company’s fifty day moving average price is $90.63 and its two-hundred day moving average price is $88.04. CBRE Group has a 1-year low of $64.63 and a 1-year high of $98.65. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36.

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 2,667 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 72,350 shares of the company’s stock, valued at approximately $6,766,895.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of CBRE Group in the fourth quarter worth about $381,164,000. Wellington Management Group LLP raised its position in CBRE Group by 164.1% during the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after purchasing an additional 2,799,097 shares during the period. Swedbank AB bought a new stake in shares of CBRE Group in the 1st quarter valued at approximately $162,576,000. Parnassus Investments LLC purchased a new position in CBRE Group during the fourth quarter worth $104,277,000. Finally, Harris Associates L P lifted its holdings in shares of CBRE Group by 4.5% in the 4th quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock worth $1,489,919,000 after acquiring an additional 683,225 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors.

About CBRE Group

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.