CBRE Group (NYSE:CBG) released its quarterly earnings results on Thursday. The financial services provider reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.06, Bloomberg Earnings reports. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. CBRE Group’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.93 EPS. CBRE Group updated its FY18 guidance to $3.00-3.15 EPS.
CBRE Group (CBG) opened at $41.92 on Friday. CBRE Group has a 1-year low of $30.86 and a 1-year high of $46.60. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $14,440.59, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.83.
In other CBRE Group news, insider Valueact Capital Master Fund, sold 882,206 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $42.84, for a total transaction of $37,793,705.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Holdings L.P. Valueact sold 84,500 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $42.82, for a total value of $3,618,290.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,960,687 shares of company stock worth $126,486,405. Company insiders own 1.00% of the company’s stock.
CBG has been the topic of a number of research analyst reports. Bank of America increased their price target on 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 price target on shares of CBRE Group in a research report on Wednesday, December 27th. Zacks Investment Research lowered CBRE Group from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Evercore ISI initiated coverage on CBRE Group in a research report on Monday, January 22nd. They set an “in-line” rating and a $48.00 price target on the stock. Finally, JMP Securities downgraded CBRE Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 24th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $45.63.
TRADEMARK VIOLATION WARNING: “CBRE Group (CBG) Announces Earnings Results, Beats Expectations By $0.06 EPS” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://www.com-unik.info/2018/02/09/cbre-group-cbg-announces-earnings-results-beats-expectations-by-0-06-eps.html.
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.
Receive News & Ratings for CBRE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group and related companies with MarketBeat.com's FREE daily email newsletter.