CBRE Group Inc. (NYSE:CBG) – Equities researchers at Wedbush issued their Q3 2016 earnings per share estimates for shares of CBRE Group in a note issued to investors on Wednesday. Wedbush analyst J. Weaver anticipates that the brokerage will earn $0.43 per share for the quarter. Wedbush currently has a “Outperform” rating and a $35.00 price target on the stock. Wedbush also issued estimates for CBRE Group’s Q4 2016 earnings at $0.68 EPS, FY2016 earnings at $2.06 EPS, Q1 2017 earnings at $0.64 EPS, Q2 2017 earnings at $0.58 EPS, Q3 2017 earnings at $0.42 EPS, Q4 2017 earnings at $0.87 EPS and FY2017 earnings at $2.51 EPS.
Separately, Zacks Investment Research cut shares of CBRE Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $38.60.
CBRE Group (NYSE:CBG) opened at 27.47 on Monday. CBRE Group has a 52-week low of $22.74 and a 52-week high of $38.49. The firm has a market cap of $9.20 billion, a P/E ratio of 17.40 and a beta of 2.00. The company’s 50 day moving average is $28.71 and its 200-day moving average is $28.83.
CBRE Group (NYSE:CBG) last released its earnings results on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. CBRE Group had a net margin of 4.28% and a return on equity of 26.58%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the company earned $0.42 EPS. CBRE Group’s quarterly revenue was up 34.2% compared to the same quarter last year.
In other news, Director Holdings L.P. Valueact bought 288,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were purchased at an average price of $28.43 per share, for a total transaction of $8,187,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James R. Groch sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $30.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer now owns 538,281 shares in the company, valued at approximately $16,148,430. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of CBRE Group by 5.8% in the second quarter. Vanguard Group Inc. now owns 26,286,199 shares of the company’s stock valued at $696,059,000 after buying an additional 1,445,635 shares in the last quarter. FMR LLC boosted its position in shares of CBRE Group by 26.5% in the second quarter. FMR LLC now owns 18,561,943 shares of the company’s stock valued at $491,520,000 after buying an additional 3,884,677 shares in the last quarter. State Street Corp boosted its position in shares of CBRE Group by 0.7% in the first quarter. State Street Corp now owns 12,402,038 shares of the company’s stock valued at $357,425,000 after buying an additional 88,054 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of CBRE Group by 7.2% in the second quarter. Principal Financial Group Inc. now owns 9,612,021 shares of the company’s stock valued at $254,526,000 after buying an additional 643,550 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of CBRE Group by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,729,996 shares of the company’s stock valued at $222,778,000 after buying an additional 72,537 shares in the last quarter. Hedge funds and other institutional investors own 95.71% of the company’s stock.
About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company is a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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