CBRE Group (CBRE) Shares Gap Up on Earnings Beat

CBRE Group Inc (NYSE:CBRE) shares gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $46.26, but opened at $47.83. CBRE Group shares last traded at $49.24, with a volume of 2993118 shares changing hands.

The financial services provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. CBRE Group had a net margin of 4.32% and a return on equity of 23.45%. The business had revenue of $6.29 billion during the quarter, compared to analyst estimates of $5.96 billion. During the same period in the previous year, the business earned $0.96 EPS. CBRE Group’s revenue was up 14.4% compared to the same quarter last year.

A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of CBRE Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Bank of America reduced their price objective on shares of CBRE Group from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $53.80.

In other news, Director Gerardo I. Lopez purchased 5,000 shares of the business’s stock in a transaction on Tuesday, December 4th. The stock was purchased at an average cost of $42.41 per share, with a total value of $212,050.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in CBRE. Lindbrook Capital LLC bought a new stake in shares of CBRE Group during the 4th quarter worth $27,000. Van ECK Associates Corp bought a new stake in shares of CBRE Group during the 4th quarter worth $38,000. FTB Advisors Inc. bought a new stake in shares of CBRE Group during the 3rd quarter worth $350,000. Whitnell & Co. lifted its holdings in shares of CBRE Group by 200.0% during the 4th quarter. Whitnell & Co. now owns 1,500 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new stake in shares of CBRE Group during the 4th quarter worth $61,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $16.30 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.25 and a beta of 1.69.

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About CBRE Group (NYSE:CBRE)

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.

Further Reading: Beta

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