CBRE Group (NYSE:CBRE) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

by · The Cerbat Gem

CBRE Group (NYSE:CBRE – Get Free Report) released its earnings results on Thursday. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.14, Briefing.com reports. The firm had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS. CBRE Group updated its FY 2024 guidance to 4.950-5.050 EPS and its FY24 guidance to $4.95-5.05 EPS.

CBRE Group Stock Down 0.5 %

Shares of NYSE:CBRE traded down $0.70 during trading hours on Friday, hitting $132.80. The company’s stock had a trading volume of 892,385 shares, compared to its average volume of 1,642,514. CBRE Group has a 52 week low of $64.63 and a 52 week high of $136.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $40.75 billion, a price-to-earnings ratio of 41.59 and a beta of 1.40. The firm’s fifty day moving average price is $118.97 and its 200 day moving average price is $101.77.

Insider Activity

In other news, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $116,947.86. Following the completion of the sale, the chief operating officer now owns 69,226 shares in the company, valued at approximately $7,538,019.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Vikramaditya Kohli sold 1,074 shares of CBRE Group stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $116,947.86. Following the transaction, the chief operating officer now owns 69,226 shares of the company’s stock, valued at $7,538,019.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Emma E. Giamartino sold 3,311 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $360,534.79. Following the sale, the chief financial officer now directly owns 71,969 shares in the company, valued at approximately $7,836,704.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,232 shares of company stock worth $2,839,047. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CBRE has been the subject of several analyst reports. UBS Group lowered their target price on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods lifted their price objective on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Raymond James lifted their price objective on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Evercore ISI lifted their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.83.

View Our Latest Analysis on CBRE

CBRE Group Company Profile

(Get Free Report)

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.

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