Zacks: Brokerages Anticipate CBRE Group, Inc. (NYSE:CBRE) Will Post Earnings of $1.40 Per Share

Wall Street analysts predict that CBRE Group, Inc. (NYSE:CBREGet Rating) will announce earnings of $1.40 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for CBRE Group’s earnings. The lowest EPS estimate is $1.32 and the highest is $1.45. CBRE Group posted earnings of $1.36 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.9%. The firm is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that CBRE Group will report full-year earnings of $6.20 per share for the current year, with EPS estimates ranging from $6.00 to $6.33. For the next fiscal year, analysts anticipate that the business will post earnings of $6.76 per share, with EPS estimates ranging from $6.69 to $6.88. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for CBRE Group.

CBRE Group (NYSE:CBREGet Rating) last released its earnings results on Thursday, May 5th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.29. The business had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.55 billion. CBRE Group had a net margin of 6.74% and a return on equity of 25.00%. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 earnings per share.

CBRE has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of CBRE Group in a research report on Tuesday, April 5th. They issued a “buy” rating and a $111.00 target price on the stock. Raymond James cut their target price on shares of CBRE Group from $126.00 to $111.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 26th. StockNews.com started coverage on shares of CBRE Group in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research lowered shares of CBRE Group from a “buy” rating to a “hold” rating and set a $87.00 target price on the stock. in a research note on Wednesday, April 27th. Finally, Wolfe Research cut their target price on shares of CBRE Group from $171.00 to $116.00 and set an “outperform” rating on the stock in a research note on Thursday, March 10th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $108.00.

A number of institutional investors have recently added to or reduced their stakes in CBRE. Verition Fund Management LLC increased its holdings in shares of CBRE Group by 155.8% in the 1st quarter. Verition Fund Management LLC now owns 24,978 shares of the financial services provider’s stock valued at $2,286,000 after acquiring an additional 15,215 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of CBRE Group by 14.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 89,666 shares of the financial services provider’s stock valued at $8,206,000 after purchasing an additional 11,074 shares during the last quarter. Toroso Investments LLC lifted its holdings in shares of CBRE Group by 137.4% during the first quarter. Toroso Investments LLC now owns 8,959 shares of the financial services provider’s stock valued at $820,000 after purchasing an additional 5,185 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in CBRE Group by 58.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 315,955 shares of the financial services provider’s stock worth $28,916,000 after purchasing an additional 116,271 shares during the last quarter. Finally, Sawgrass Asset Management LLC bought a new stake in shares of CBRE Group during the 1st quarter worth about $568,000. 96.30% of the stock is currently owned by hedge funds and other institutional investors.

NYSE CBRE opened at $82.49 on Friday. The firm’s 50-day moving average is $84.51 and its two-hundred day moving average is $94.51. CBRE Group has a 12 month low of $76.35 and a 12 month high of $111.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $26.96 billion, a P/E ratio of 14.27, a PEG ratio of 1.17 and a beta of 1.36.

About CBRE Group (Get Rating)

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services for owners of and investors in office, industrial, and retail properties; 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.

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