CBRE Group (CBG) Lifted to “Buy” at Zacks Investment Research

CBRE Group (NYSE:CBG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $48.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 17.73% from the company’s current price.

According to Zacks, “Shares of CBRE Group have outperformed the industry it belongs to in the past six months. Moreover, the stock has seen the Zacks Consensus Estimate for 2018 earnings per share being revised upward in a week’s time. Recently, the company reported fourth-quarter 2017 adjusted earnings per share of 99 cents, beating the Zacks Consensus Estimate of 93 cents. Results indicate strong revenue growth in all three of its global regions. Specifically, the company experienced solid growth in occupier outsourcing and leasing fee revenue. 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. However, competition from international, regional and local players as well as its exposure to unfavorable foreign currency movements remain concerns.”

CBG has been the topic of a number of other reports. Raymond James Financial began coverage on CBRE Group in a research note on Tuesday. They issued an “outperform” rating and a $55.00 price target on the stock. JMP Securities downgraded CBRE Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 24th. They noted that the move was a valuation call. Bank of America lifted their target price on CBRE Group from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Evercore ISI began coverage on CBRE Group in a research report on Monday, January 22nd. They set an “in-line” rating and a $48.00 target price on the stock. Finally, Barclays lifted their target price on CBRE Group from $47.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $45.50.

Shares of CBRE Group (CBG) traded down $1.15 on Friday, reaching $40.77. The company’s stock had a trading volume of 1,119,487 shares, compared to its average volume of 1,935,883. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.66. CBRE Group has a 1-year low of $32.30 and a 1-year high of $46.60. The stock has a market cap of $14,440.59, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 1.15 and a beta of 1.83.

CBRE Group (NYSE:CBG) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.06. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the business posted $0.93 EPS. equities analysts expect that CBRE Group will post 2.65 earnings per share for the current fiscal year.

In other CBRE Group news, insider Valueact Capital Master Fund, sold 882,206 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. Also, EVP J. Christopher Kirk sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $43.32, for a total value of $866,400.00. Following the sale, the executive vice president now directly owns 118,162 shares in the company, valued at $5,118,777.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,960,687 shares of company stock worth $126,486,405. Insiders own 1.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Invictus RG purchased a new position in CBRE Group in the third quarter worth about $104,000. Fieldpoint Private Securities LLC acquired a new position in shares of CBRE Group during the 3rd quarter worth about $104,000. BB&T Investment Services Inc. acquired a new position in shares of CBRE Group during the 2nd quarter worth about $125,000. Cerebellum GP LLC acquired a new position in shares of CBRE Group during the 4th quarter worth about $127,000. Finally, Zions Bancorporation raised its position in shares of CBRE Group by 5,136.8% during the 3rd quarter. Zions Bancorporation now owns 3,561 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 3,493 shares during the last quarter. 94.66% of the stock is currently owned by hedge funds and other institutional investors.

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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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