CBRE Group (NYSE:CBRE) Posts Earnings Results, Misses Estimates By $0.02 EPS

CBRE Group (NYSE:CBRE) released its earnings results on Friday. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02), MarketWatch Earnings reports. CBRE Group had a return on equity of 21.37% and a net margin of 5.23%. The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period last year, the business earned $0.81 earnings per share. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year.

Shares of CBRE stock opened at $43.81 on Friday. CBRE Group has a 12-month low of $29.17 and a 12-month high of $64.75. The company has a market capitalization of $14.68 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.62 and a beta of 1.73. The firm has a 50-day moving average price of $44.87 and a 200 day moving average price of $48.08. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.28.

A number of analysts have commented on CBRE shares. Raymond James reduced their price objective on CBRE Group from $57.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods reduced their target price on CBRE Group from $52.00 to $51.00 and set a “market perform” rating for the company in a research report on Friday, May 8th. Zacks Investment Research lowered shares of CBRE Group from a “hold” rating to a “sell” rating and set a $46.00 price target on the stock. in a report on Tuesday, April 14th. Cfra cut shares of CBRE Group from a “hold” rating to a “sell” rating and dropped their price objective for the company from $57.00 to $35.00 in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. lowered shares of CBRE Group from an “overweight” rating to a “neutral” rating in a research report on Sunday, April 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $48.29.

In related news, insider Michael J. Lafitte sold 39,196 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $51.73, for a total transaction of $2,027,609.08. Following the transaction, the insider now owns 325,957 shares in the company, valued at approximately $16,861,755.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Laurence H. Midler sold 16,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $55.45, for a total transaction of $887,200.00. Following the completion of the transaction, the executive vice president now directly owns 134,905 shares of the company’s stock, valued at $7,480,482.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,212 shares of company stock worth $7,109,705. Company insiders own 0.80% of the company’s stock.

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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Earnings History for CBRE Group (NYSE:CBRE)

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