CBRE Group (CBG) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of CBRE Group (NYSE:CBG) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

According to Zacks, “Shares of CBRE Group have outperformed the industry it belongs to, in the past three months. Recently, the company announced the acquisition of a building technical engineering services provider in Italy — Geico Lender S.p.A. The move comes as part of the company’s strategic efforts to expand its facilities management expertise in the region. Notably, CBRE Group is experiencing strength in all three of its regional services businesses and solid growth in occupier outsourcing business. Going forward, its extensive real estate products and services offerings, improving leasing and outsourcing business, strategic in-fill acquisitions, transformational deals, and healthy balance sheet are expected to drive results. Yet, competition from international, regional and local players, its exposure to unfavorable foreign currency movements and uneasiness in certain global economies are concerns before CBRE.”

Other equities research analysts have also issued reports about the stock. Bank of America boosted their target price on shares of CBRE Group from $42.00 to $44.00 and gave the stock a buy rating in a research report on Monday, November 6th. Barclays restated a buy rating and set a $47.00 target price on shares of CBRE Group in a research report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $42.83.

Shares of CBRE Group (NYSE:CBG) traded down $0.88 during midday trading on Monday, hitting $44.27. 2,227,000 shares of the company’s stock traded hands, compared to its average volume of 2,083,914. The stock has a market cap of $15,030.00, a price-to-earnings ratio of 19.16, a P/E/G ratio of 1.23 and a beta of 1.87. CBRE Group has a 52 week low of $29.69 and a 52 week high of $45.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.66.

CBRE Group (NYSE:CBG) last issued its earnings results on Friday, November 3rd. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.54 by $0.10. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.45 billion. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. equities research analysts forecast that CBRE Group will post 2.67 earnings per share for the current year.

In other news, insider Calvin W. Frese, Jr. sold 11,307 shares of CBRE Group stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $40.00, for a total transaction of $452,280.00. Following the completion of the transaction, the insider now owns 246,473 shares of the company’s stock, valued at approximately $9,858,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Calvin W. Frese, Jr. sold 25,000 shares of CBRE Group stock in a transaction on Friday, October 20th. The stock was sold at an average price of $40.04, for a total value of $1,001,000.00. Following the transaction, the insider now directly owns 246,473 shares of the company’s stock, valued at approximately $9,868,778.92. The disclosure for this sale can be found here. Insiders have sold a total of 3,024,872 shares of company stock worth $129,080,441 over the last 90 days. Insiders own 1.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its stake in shares of CBRE Group by 25.6% during the 2nd quarter. Toronto Dominion Bank now owns 101,905 shares of the financial services provider’s stock worth $3,709,000 after buying an additional 20,739 shares during the last quarter. Balyasny Asset Management LLC raised its stake in shares of CBRE Group by 57.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 101,263 shares of the financial services provider’s stock worth $3,686,000 after buying an additional 37,092 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of CBRE Group by 70.9% during 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 buying an additional 130,144 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in shares of CBRE Group during the 3rd quarter worth $748,000. Finally, Commonwealth Bank of Australia raised its stake in shares of CBRE Group by 347.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 21,364 shares of the financial services provider’s stock worth $776,000 after buying an additional 16,589 shares during the last quarter. 94.58% of the stock is owned by institutional investors and hedge funds.

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CBRE Group Company Profile

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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