Analysts expect that CBRE Group Inc (NYSE:CBRE) will announce sales of $5.53 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for CBRE Group’s earnings. The highest sales estimate is $5.55 billion and the lowest is $5.51 billion. CBRE Group posted sales of $5.11 billion in the same quarter last year, which would indicate a positive year over year growth rate of 8.2%. The business is expected to announce its next quarterly earnings report before the market opens on Thursday, August 1st.
On average, analysts expect that CBRE Group will report full year sales of $23.26 billion for the current financial year, with estimates ranging from $23.22 billion to $23.29 billion. For the next financial year, analysts anticipate that the firm will post sales of $24.76 billion, with estimates ranging from $24.53 billion to $24.99 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow CBRE Group.
CBRE Group (NYSE:CBRE) last announced its earnings results on Wednesday, May 8th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.20. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. CBRE Group had a return on equity of 24.72% and a net margin of 4.94%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS.
Separately, Compass Point began coverage on Jones Lang LaSalle in a research report on Wednesday, July 10th. They set a “buy” rating and a $180.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $55.75.
Shares of CBRE stock traded up $0.22 during mid-day trading on Friday, hitting $52.22. 1,371,819 shares of the stock traded hands, compared to its average volume of 1,542,618. CBRE Group has a twelve month low of $37.45 and a twelve month high of $53.15. The stock has a market capitalization of $17.67 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 1.32 and a beta of 1.70. The stock’s 50-day simple moving average is $50.38. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.52.
In other news, insider Dara Bazzano sold 1,252 shares of CBRE Group stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $47.51, for a total transaction of $59,482.52. Following the transaction, the insider now directly owns 21,246 shares in the company, valued at approximately $1,009,397.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Curtis F. Feeny sold 4,514 shares of CBRE Group stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $47.30, for a total value of $213,512.20. Following the completion of the transaction, the director now owns 4,228 shares in the company, valued at $199,984.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,766 shares of company stock worth $2,461,995. 0.74% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CBRE. Legacy Private Trust Co. boosted its position in CBRE Group by 10.0% during the second quarter. Legacy Private Trust Co. now owns 84,650 shares of the financial services provider’s stock valued at $4,343,000 after purchasing an additional 7,714 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in CBRE Group during the second quarter valued at $9,730,000. Oregon Public Employees Retirement Fund boosted its position in CBRE Group by 332.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 142,253 shares of the financial services provider’s stock valued at $7,298,000 after purchasing an additional 109,394 shares during the last quarter. OLD National Bancorp IN boosted its position in CBRE Group by 5.8% during the second quarter. OLD National Bancorp IN now owns 19,406 shares of the financial services provider’s stock valued at $995,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its position in CBRE Group by 16.7% during the second quarter. Raymond James Trust N.A. now owns 10,044 shares of the financial services provider’s stock valued at $516,000 after purchasing an additional 1,440 shares during the last quarter. Institutional investors and hedge funds own 92.94% 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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