Zacks: Analysts Expect CBRE Group, Inc. (CBG) to Post $0.94 EPS

Analysts expect CBRE Group, Inc. (NYSE:CBG) to announce $0.94 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for CBRE Group’s earnings, with estimates ranging from $0.93 to $0.95. CBRE Group posted earnings of $0.93 per share in the same quarter last year, which suggests a positive year over year growth rate of 1.1%. The company is scheduled to report its next earnings report on Friday, February 9th.

On average, analysts expect that CBRE Group will report full year earnings of $2.67 per share for the current year, with EPS estimates ranging from $2.66 to $2.67. For the next fiscal year, analysts anticipate that the company will report earnings of $2.76 per share, with EPS estimates ranging from $2.58 to $2.96. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover CBRE Group.

CBRE Group (NYSE:CBG) last posted its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.10. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the prior year, the firm posted $0.50 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year.

A number of research analysts have commented on CBG shares. Bank of America increased their price objective on shares of CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, November 6th. BidaskClub downgraded shares of CBRE Group from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Barclays increased their price objective on shares of CBRE Group from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. CBRE Group currently has an average rating of “Hold” and a consensus target price of $40.33.

In other news, insider Robert E. Sulentic sold 45,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $43.16, for a total value of $1,942,200.00. Following the transaction, the insider now directly owns 637,971 shares in the company, valued at approximately $27,534,828.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William F. Concannon sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $39.02, for a total transaction of $975,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,526,111 shares of company stock worth $326,453,913. Insiders own 1.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Invictus RG bought a new position in shares of CBRE Group in the 3rd quarter worth about $104,000. Fieldpoint Private Securities LLC bought a new position in shares of CBRE Group in the 3rd quarter worth about $104,000. GQG Partners LLC bought a new position in shares of CBRE Group in the 2nd quarter worth about $122,000. BB&T Investment Services Inc. bought a new position in shares of CBRE Group in the 2nd quarter worth about $125,000. Finally, Zions Bancorporation lifted its position in shares of CBRE Group by 5,136.8% in the 3rd quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock worth $135,000 after buying an additional 3,493 shares during the last quarter. Institutional investors own 95.00% of the company’s stock.

CBRE Group (CBG) traded down $0.17 during midday trading on Friday, reaching $43.19. 2,569,084 shares of the company’s stock were exchanged, compared to its average volume of 2,121,989. CBRE Group has a 12-month low of $29.45 and a 12-month high of $43.54. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.66. The company has a market cap of $14,661.23, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 1.25 and a beta of 1.86.

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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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