Zacks Research Increases Earnings Estimates for CBRE Group

CBRE Group, Inc. (NYSE:CBRE) – Equities researchers at Zacks Research upped their FY2024 EPS estimates for CBRE Group in a research note issued to investors on Thursday, November 14th. Zacks Research analyst R. Department now forecasts that the financial services provider will earn $4.89 per share for the year, up from their prior estimate of $4.71. The consensus estimate for CBRE Group’s current full-year earnings is $4.94 per share. Zacks Research also issued estimates for CBRE Group’s Q4 2024 earnings at $2.10 EPS, Q1 2025 earnings at $0.94 EPS, Q2 2025 earnings at $1.08 EPS, Q3 2025 earnings at $1.42 EPS, Q4 2025 earnings at $2.40 EPS, FY2025 earnings at $5.84 EPS, Q2 2026 earnings at $1.57 EPS, Q3 2026 earnings at $1.73 EPS and FY2026 earnings at $6.77 EPS.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same period in the prior year, the firm posted $0.72 EPS. The business’s revenue was up 14.8% compared to the same quarter last year.

Other analysts also recently issued reports about the stock. Raymond James boosted their target price on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Morgan Stanley began coverage on shares of CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. Evercore ISI increased their target price on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Keefe, Bruyette & Woods increased their price objective on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $116.83.

CBRE Group Trading Down 0.4 %

NYSE:CBRE opened at $132.17 on Monday. The company has a market capitalization of $40.45 billion, a P/E ratio of 42.50 and a beta of 1.39. The stock’s 50 day moving average price is $125.92 and its 200 day moving average price is $107.82. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. CBRE Group has a 52 week low of $76.63 and a 52 week high of $137.93.

Hedge Funds Weigh In On CBRE Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in CBRE Group by 85.6% in the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock valued at $944,435,000 after buying an additional 3,498,244 shares during the period. Swedbank AB bought a new stake in CBRE Group in the first quarter valued at about $162,576,000. Robeco Institutional Asset Management B.V. raised its position in CBRE Group by 60.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock worth $329,320,000 after purchasing an additional 993,963 shares in the last quarter. State Street Corp lifted its stake in CBRE Group by 5.4% during the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after purchasing an additional 692,697 shares during the period. Finally, Eminence Capital LP boosted its holdings in CBRE Group by 42.6% during the second quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock valued at $135,287,000 after purchasing an additional 453,406 shares in the last quarter. 98.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Emma E. Giamartino sold 1,815 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the transaction, the chief financial officer now owns 70,154 shares in the company, valued at approximately $9,214,026.36. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company 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.