CBRE Group Inc (NYSE:CBRE) Expected to Post Quarterly Sales of $5.53 Billion

Analysts expect CBRE Group Inc (NYSE:CBRE) to report sales of $5.53 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for CBRE Group’s earnings, with estimates ranging from $5.51 billion to $5.55 billion. CBRE Group reported sales of $5.11 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.2%. The company is expected to report its next earnings report before the market opens on Thursday, August 1st.

According to Zacks, analysts expect that CBRE Group will report full-year sales of $23.26 billion for the current year, with estimates ranging from $23.22 billion to $23.29 billion. For the next financial year, analysts expect that the firm will report sales of $24.76 billion, with estimates ranging from $24.53 billion to $24.99 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow CBRE Group.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.20. CBRE Group had a return on equity of 24.72% and a net margin of 4.94%. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the prior year, the company earned $0.54 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year.

Separately, Compass Point assumed coverage on Jones Lang LaSalle in a research note on Wednesday, July 10th. They issued a “buy” rating and a $180.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $55.75.

NYSE CBRE traded down $0.11 during mid-day trading on Friday, hitting $52.11. The stock had a trading volume of 1,204,527 shares, compared to its average volume of 1,282,091. The stock’s 50 day moving average is $50.60. CBRE Group has a twelve month low of $37.45 and a twelve month high of $53.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $17.56 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.31 and a beta of 1.70.

In other CBRE Group news, insider Dara Bazzano sold 1,252 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $47.51, for a total value of $59,482.52. Following the completion of the sale, the insider now directly owns 21,246 shares of the company’s stock, valued at approximately $1,009,397.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Curtis F. Feeny sold 4,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $47.25, for a total value of $189,000.00. Following the completion of the sale, the director now directly owns 8,444 shares of the company’s stock, valued at $398,979. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,766 shares of company stock valued at $2,461,995. 0.74% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Cetera Advisors LLC increased its stake in shares of CBRE Group by 2.3% in the 1st quarter. Cetera Advisors LLC now owns 11,557 shares of the financial services provider’s stock worth $572,000 after acquiring an additional 257 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of CBRE Group by 0.4% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 66,615 shares of the financial services provider’s stock worth $3,294,000 after purchasing an additional 268 shares during the period. Coe Capital Management LLC grew its holdings in shares of CBRE Group by 2.9% during the 1st quarter. Coe Capital Management LLC now owns 11,205 shares of the financial services provider’s stock worth $554,000 after purchasing an additional 320 shares during the period. FDx Advisors Inc. grew its holdings in shares of CBRE Group by 3.5% during the 2nd quarter. FDx Advisors Inc. now owns 9,662 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 327 shares during the period. Finally, First Hawaiian Bank grew its holdings in shares of CBRE Group by 0.8% during the 1st quarter. First Hawaiian Bank now owns 42,170 shares of the financial services provider’s stock worth $2,085,000 after purchasing an additional 344 shares during the period. 92.94% of the stock is owned by institutional investors and hedge funds.

About CBRE Group

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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