CBRE Group Inc. (NYSE:CBG) – Research analysts at William Blair reduced their Q3 2016 earnings estimates for CBRE Group in a report issued on Sunday. William Blair analyst B. Dobell now expects that the firm will post earnings of $0.43 per share for the quarter, down from their previous forecast of $0.44. William Blair also issued estimates for CBRE Group’s FY2016 earnings at $2.18 EPS and FY2017 earnings at $2.46 EPS.
CBRE Group (NYSE:CBG) last posted its earnings results on Thursday, July 28th. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. CBRE Group had a return on equity of 26.58% and a net margin of 4.28%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the company earned $0.42 earnings per share. The business’s revenue was up 34.2% compared to the same quarter last year.
A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of CBRE Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 14th. Wedbush started coverage on shares of CBRE Group in a research report on Wednesday, October 5th. They issued an “outperform” rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $38.60.
CBRE Group (NYSE:CBG) opened at 27.03 on Tuesday. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 17.12 and a beta of 1.99. CBRE Group has a 12-month low of $22.74 and a 12-month high of $38.49. The firm’s 50-day moving average price is $28.58 and its 200 day moving average price is $28.80.
Institutional investors have recently bought and sold shares of the company. Rafferty Asset Management LLC increased its position in CBRE Group by 119.9% in the first quarter. Rafferty Asset Management LLC now owns 55,613 shares of the company’s stock worth $1,603,000 after buying an additional 30,319 shares in the last quarter. State Street Corp increased its position in CBRE Group by 0.7% in the first quarter. State Street Corp now owns 12,402,038 shares of the company’s stock worth $357,425,000 after buying an additional 88,054 shares in the last quarter. BB&T Securities LLC increased its position in CBRE Group by 27.7% in the first quarter. BB&T Securities LLC now owns 1,138,368 shares of the company’s stock worth $32,807,000 after buying an additional 247,010 shares in the last quarter. Canada Pension Plan Investment Board increased its position in CBRE Group by 9.6% in the first quarter. Canada Pension Plan Investment Board now owns 242,609 shares of the company’s stock worth $6,992,000 after buying an additional 21,200 shares in the last quarter. Finally, Aviva PLC increased its position in CBRE Group by 4.8% in the first quarter. Aviva PLC now owns 144,816 shares of the company’s stock worth $4,174,000 after buying an additional 6,679 shares in the last quarter. Institutional investors own 95.71% of the company’s stock.
In other CBRE Group news, insider Valueact Capital Master Fund, acquired 182,060 shares of CBRE Group stock in a transaction dated Thursday, August 4th. The stock was bought at an average cost of $28.50 per share, for a total transaction of $5,188,710.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Holdings L.P. Valueact acquired 1,212,000 shares of CBRE Group stock in a transaction dated Tuesday, August 2nd. The shares were acquired at an average price of $28.28 per share, with a total value of $34,275,360.00. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.
CBRE Group Company Profile
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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