CBRE Group (CBG) Announces Earnings Results, Beats Expectations By $0.06 EPS

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.

Hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank lifted its stake in shares of CBRE Group by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 101,905 shares of the financial services provider’s stock valued at $3,709,000 after purchasing an additional 20,739 shares during the period. Balyasny Asset Management LLC lifted its stake in shares of CBRE Group by 57.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 101,263 shares of the financial services provider’s stock valued at $3,686,000 after purchasing an additional 37,092 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of CBRE Group by 70.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,724 shares of the financial services provider’s stock valued at $11,884,000 after purchasing an additional 130,144 shares during the period. Chicago Equity Partners LLC acquired a new position in shares of CBRE Group in the 3rd quarter valued at $748,000. Finally, Candriam Luxembourg S.C.A. lifted its stake in shares of CBRE Group by 1.0% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 589,741 shares of the financial services provider’s stock valued at $22,339,000 after purchasing an additional 6,060 shares during the period. 94.66% of the stock is currently owned by institutional investors.

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.

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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.

Earnings History for CBRE Group (NYSE:CBG)

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