CBRE Group (NYSE:CBRE) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

CBRE Group (NYSE:CBRE) issued its quarterly earnings data on Friday. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.69 by $0.09, RTT News reports. CBRE Group had a return on equity of 13.69% and a net margin of 3.09%. The company had revenue of $7.94 billion during the quarter, compared to analyst estimates of $7.94 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. CBRE Group’s revenue was up 7.1% compared to the same quarter last year. CBRE Group updated its FY24 guidance to $4.25-4.65 EPS and its FY 2024 guidance to 4.250-4.650 EPS.

CBRE Group Price Performance

Shares of NYSE CBRE traded down $0.18 during mid-day trading on Friday, reaching $86.61. The company’s stock had a trading volume of 2,301,063 shares, compared to its average volume of 1,585,100. The firm has a market capitalization of $26.58 billion, a PE ratio of 27.32 and a beta of 1.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a fifty day moving average of $91.77 and a two-hundred day moving average of $85.70. CBRE Group has a 52 week low of $64.63 and a 52 week high of $98.65.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. TheStreet raised CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. StockNews.com lowered CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday. Evercore ISI boosted their price target on CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a report on Tuesday, April 2nd. Jefferies Financial Group initiated coverage on CBRE Group in a report on Wednesday, April 10th. They set a “hold” rating and a $107.00 price target for the company. Finally, Raymond James boosted their price target on CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CBRE Group has a consensus rating of “Hold” and a consensus target price of $99.50.

Insider Transactions at CBRE Group

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 transaction, the chief financial officer now owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction, the chief financial officer now owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John E. Durburg sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total value of $2,305,000.00. Following the completion of the transaction, the chief executive officer now directly owns 207,856 shares of the company’s stock, valued at approximately $19,164,323.20. The disclosure for this sale can be found here. Insiders sold a total of 39,592 shares of company stock valued at $3,675,752 over the last 90 days. Company insiders own 0.54% of the company’s stock.

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.