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

CBRE Group (NYSE:CBRE) released its quarterly earnings results on Friday. The financial services provider reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $7.94 billion. During the same quarter in the prior year, the firm posted $0.92 EPS. The company’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 Stock Down 0.2 %

Shares of NYSE:CBRE traded down $0.18 during midday trading on Friday, hitting $86.61. 2,301,063 shares of the company’s stock traded hands, compared to its average volume of 1,585,100. CBRE Group has a twelve month low of $64.63 and a twelve month high of $98.65. The company has a market cap 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 quick ratio of 1.17 and a current ratio of 1.17. The firm’s fifty day moving average price is $91.77 and its two-hundred day moving average price is $85.70.

Insider Buying and Selling at CBRE Group

In other news, CFO Emma E. Giamartino sold 2,667 shares of the 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 in the company, valued at $6,766,895.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Emma E. Giamartino sold 2,667 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was 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 in the company, valued at $6,766,895.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John E. Durburg sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the sale, 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 have sold 39,592 shares of company stock valued at $3,675,752 over the last three months. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CBRE has been the topic of a number of recent research reports. Raymond James upped their target price on CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 25th. TheStreet upgraded shares of CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. Evercore ISI lifted their price objective on CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods increased their target price on CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. Finally, StockNews.com lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday. Five 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 stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $99.50.

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.