CBRE Group Inc (CBRE) Expected to Announce Quarterly Sales of $4.62 Billion

Wall Street analysts forecast that CBRE Group Inc (NYSE:CBRE) will report sales of $4.62 billion for the current quarter, Zacks reports. Three analysts have made estimates for CBRE Group’s earnings, with estimates ranging from $4.45 billion to $4.81 billion. CBRE Group posted sales of $3.34 billion during the same quarter last year, which would indicate a positive year over year growth rate of 38.3%. The company is scheduled to issue its next earnings report on Thursday, July 26th.

According to Zacks, analysts expect that CBRE Group will report full-year sales of $19.77 billion for the current year, with estimates ranging from $19.30 billion to $20.32 billion. For the next fiscal year, analysts forecast that the firm will report sales of $21.37 billion per share, with estimates ranging from $21.04 billion to $21.89 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover CBRE Group.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.49 by $0.05. CBRE Group had a net margin of 4.48% and a return on equity of 24.15%. The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the previous year, the business earned $0.43 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis.

Several research analysts have commented on CBRE shares. JPMorgan Chase & Co. boosted their price objective on shares of CBRE Group from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, March 6th. Goldman Sachs Group started coverage on shares of CBRE Group in a research report on Tuesday, April 3rd. They set a “buy” rating and a $54.00 price objective for the company. Barclays boosted their price objective on shares of CBRE Group from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, March 15th. ValuEngine upgraded shares of CBRE Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Friday, May 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $48.55.

In related news, insider Michael J. Lafitte sold 16,775 shares of the business’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $47.23, for a total value of $792,283.25. Following the sale, the insider now owns 339,780 shares of the company’s stock, valued at $16,047,809.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Curtis F. Feeny sold 7,447 shares of the business’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $46.27, for a total transaction of $344,572.69. Following the completion of the sale, the director now directly owns 4,453 shares in the company, valued at approximately $206,040.31. The disclosure for this sale can be found here. Insiders have sold 29,222 shares of company stock valued at $1,371,056 over the last quarter. Company insiders own 0.88% of the company’s stock.

Several institutional investors have recently modified their holdings of CBRE. BlackRock Inc. bought a new stake in shares of CBRE Group in the first quarter worth $979,545,000. ValueAct Holdings L.P. bought a new stake in shares of CBRE Group in the first quarter worth $940,477,000. JPMorgan Chase & Co. bought a new stake in shares of CBRE Group in the first quarter worth $631,852,000. Principal Financial Group Inc. bought a new stake in shares of CBRE Group in the first quarter worth $460,482,000. Finally, Cantillon Capital Management LLC bought a new stake in shares of CBRE Group in the first quarter worth $326,924,000. 93.00% of the stock is currently owned by institutional investors.

CBRE Group traded up $0.36, hitting $48.30, during trading on Monday, according to MarketBeat.com. 1,273,749 shares of the stock traded hands, compared to its average volume of 2,050,490. CBRE Group has a twelve month low of $34.38 and a twelve month high of $48.95. The company has a market cap of $16.49 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.19 and a beta of 1.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.18.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.

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Earnings History and Estimates for CBRE Group (NYSE:CBRE)

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