CBRE Group (CBRE) Scheduled to Post Earnings on Friday

CBRE Group (NYSE:CBRE) is set to release its earnings data before the market opens on Friday, May 3rd. Analysts expect CBRE Group to post earnings of $0.68 per share for the quarter. CBRE Group has set its FY24 guidance at $4.25-4.65 EPS.Investors interested in listening to the company’s conference call can do so using this link.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, February 15th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.21 by $0.17. The company had revenue of $8.95 billion during the quarter, compared to the consensus estimate of $8.44 billion. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. CBRE Group’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the firm earned $1.33 EPS. On average, analysts expect CBRE Group to post $4 EPS for the current fiscal year and $6 EPS for the next fiscal year.

CBRE Group Stock Up 0.3 %

CBRE opened at $87.01 on Friday. The company has a 50 day moving average of $92.25 and a 200 day moving average of $85.20. The company has a market cap of $26.71 billion, a PE ratio of 27.45 and a beta of 1.42. CBRE Group has a 12 month low of $64.63 and a 12 month high of $98.65. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.31.

Insider Activity

In other CBRE Group news, CFO Emma E. Giamartino sold 2,667 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $93.53, for a total transaction of $249,444.51. Following the completion of the sale, the chief financial officer now directly owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other CBRE Group news, CFO Emma E. Giamartino sold 2,667 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the completion of the transaction, the chief financial officer now directly owns 72,350 shares in the company, valued at $6,766,895.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Chandra Dhandapani sold 11,925 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the transaction, the chief executive officer now owns 127,064 shares of the company’s stock, valued at approximately $11,947,827.92. The disclosure for this sale can be found here. Insiders sold 39,592 shares of company stock valued at $3,675,752 over the last three months. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TheStreet raised shares of CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. Raymond James raised their price objective on shares of CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. Evercore ISI raised their price objective on shares of CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com upgraded shares of CBRE Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.50.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis 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.