StockNews.com Initiates Coverage on CBRE Group (NYSE:CBRE)

Equities research analysts at StockNews.com assumed coverage on shares of CBRE Group (NYSE:CBRE – Get Rating) in a report released on Thursday. The brokerage set a “hold” rating on the financial services provider’s stock.

Several other brokerages have also commented on CBRE. Keefe, Bruyette & Woods lowered shares of CBRE Group from an “outperform” rating to a “market perform” rating and set a $88.00 price target for the company. in a research report on Thursday, January 26th. JPMorgan Chase & Co. boosted their price objective on shares of CBRE Group from $80.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, March 3rd. Citigroup began coverage on shares of CBRE Group in a research note on Friday, January 27th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Raymond James decreased their price objective on shares of CBRE Group from $105.00 to $101.00 and set a “strong-buy” rating for the company in a research note on Friday, January 20th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $92.43.

CBRE Group Stock Performance

Shares of CBRE stock opened at $73.91 on Thursday. CBRE Group has a one year low of $66.31 and a one year high of $94.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50 day moving average price of $84.46 and a 200 day moving average price of $78.00. The firm has a market capitalization of $22.90 billion, a price-to-earnings ratio of 17.31 and a beta of 1.38.

CBRE Group (NYSE:CBRE – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.19 by $0.14. CBRE Group had a net margin of 4.57% and a return on equity of 21.07%. The firm had revenue of $8.19 billion during the quarter, compared to analyst estimates of $7.97 billion. During the same quarter in the prior year, the business posted $2.19 earnings per share. CBRE Group’s revenue for the quarter was down 4.2% compared to the same quarter last year. Sell-side analysts anticipate that CBRE Group will post 5.14 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. raised its holdings in CBRE Group by 2.9% in the third quarter. UBS Asset Management Americas Inc. now owns 2,118,533 shares of the financial services provider’s stock valued at $143,022,000 after acquiring an additional 59,700 shares in the last quarter. Alphastar Capital Management LLC raised its holdings in CBRE Group by 9.9% in the third quarter. Alphastar Capital Management LLC now owns 3,322 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 298 shares in the last quarter. Natixis Investment Managers International raised its holdings in CBRE Group by 31.0% in the second quarter. Natixis Investment Managers International now owns 13,892 shares of the financial services provider’s stock valued at $1,022,000 after acquiring an additional 3,284 shares in the last quarter. Fifth Third Bancorp raised its holdings in CBRE Group by 27.0% in the third quarter. Fifth Third Bancorp now owns 59,002 shares of the financial services provider’s stock valued at $3,983,000 after acquiring an additional 12,536 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of CBRE Group by 0.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,959,508 shares of the financial services provider’s stock worth $199,808,000 after purchasing an additional 25,597 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Company Profile

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CBRE Group, Inc engages in the provision of commercial real estate and investment services. It operates through the following segments: Advisory Services, Global Workplace Solutions and Real Estate Investments. The Advisory Services Segment provides a comprehensive range of services globally, including property leasing, capital markets (property sales and mortgage origination, sales and servicing), property management, project management services and valuation services.