Q2 2024 EPS Estimates for CBRE Group, Inc. Reduced by Analyst (NYSE:CBRE)

CBRE Group, Inc. (NYSE:CBRE) – Zacks Research reduced their Q2 2024 earnings per share (EPS) estimates for CBRE Group in a note issued to investors on Friday, May 24th. Zacks Research analyst R. Department now expects that the financial services provider will post earnings of $0.78 per share for the quarter, down from their prior forecast of $0.93. The consensus estimate for CBRE Group’s current full-year earnings is $4.50 per share. Zacks Research also issued estimates for CBRE Group’s Q4 2024 earnings at $1.81 EPS, FY2024 earnings at $4.44 EPS, Q1 2025 earnings at $1.16 EPS, Q3 2025 earnings at $1.13 EPS, Q4 2025 earnings at $1.94 EPS, Q1 2026 earnings at $1.54 EPS and FY2026 earnings at $7.00 EPS.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings results on Friday, May 3rd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. CBRE Group had a return on equity of 12.96% and a net margin of 3.06%. The company had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.94 billion. During the same period in the previous year, the business earned $0.92 EPS. CBRE Group’s revenue for the quarter was up 7.1% on a year-over-year basis.

A number of other equities analysts also recently commented on CBRE. Jefferies Financial Group initiated coverage on shares of CBRE Group in a research report on Wednesday, April 10th. They set a “hold” rating and a $107.00 price objective for the company. StockNews.com downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Evercore ISI increased their price target on shares of CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $99.50.

CBRE Group Trading Down 0.2 %

NYSE CBRE opened at $87.50 on Monday. CBRE Group has a one year low of $64.63 and a one year high of $98.65. The firm has a market cap of $26.85 billion, a PE ratio of 27.26 and a beta of 1.44. The firm’s fifty day moving average is $90.63 and its two-hundred day moving average is $88.04. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.15 and a current ratio of 1.15.

Institutional Trading of CBRE Group

Several institutional investors and hedge funds have recently bought and sold shares of CBRE. Cetera Advisors LLC grew its holdings in shares of CBRE Group by 9.1% during the first quarter. Cetera Advisors LLC now owns 13,074 shares of the financial services provider’s stock valued at $1,271,000 after purchasing an additional 1,090 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of CBRE Group by 500.1% during the first quarter. Cetera Investment Advisers now owns 27,947 shares of the financial services provider’s stock valued at $2,718,000 after buying an additional 23,290 shares during the last quarter. Atria Investments Inc boosted its position in shares of CBRE Group by 61.5% during the first quarter. Atria Investments Inc now owns 29,643 shares of the financial services provider’s stock worth $2,882,000 after buying an additional 11,289 shares during the period. Swedbank AB bought a new position in CBRE Group in the 1st quarter worth approximately $162,576,000. Finally, Virtu Financial LLC acquired a new stake in CBRE Group in the 1st quarter valued at approximately $643,000. Institutional investors and hedge funds own 98.41% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Emma E. Giamartino sold 2,667 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $93.53, for a total value of $249,444.51. Following the completion of the sale, the chief financial officer now owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by insiders.

About CBRE Group

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.