CBRE Group (NYSE:CBRE) Shares Break Below 50-Day Moving Average – What’s Next?

CBRE Group, Inc. (NYSE:CBRE) shares crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $134.18 and traded as low as $132.39. CBRE Group shares last traded at $132.4920, with a volume of 1,558,121 shares changing hands.

Analyst Ratings Changes

Several brokerages have commented on CBRE. The Goldman Sachs Group upped their price objective on CBRE Group from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Barclays lifted their target price on CBRE Group from $180.00 to $183.00 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Jefferies Financial Group cut their price target on shares of CBRE Group from $180.00 to $164.00 in a report on Monday, October 12th. Wall Street Zen downgraded shares of CBRE Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of CBRE Group in a report on Friday, August 21st. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, CBRE Group has an average rating of “Moderate Buy” and an average target price of $182.78.

CBRE Group Price Performance

The firm has a fifty day simple moving average of $134.18 and a 200 day simple moving average of $140.48. The company has a market capitalization of $38.18 billion, a PE ratio of 28.37 and a beta of 1.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.17.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, October 22nd. The financial services provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.09. CBRE Group had a return on equity of 26.31% and a net margin of 3.08%. The business had revenue of $11.52 billion during the quarter, compared to analyst estimates of $11.81 billion. During the same period in the previous year, the company posted $1.61 EPS. CBRE Group’s revenue was up 12.7% on a year-over-year basis. Equities analysts anticipate that CBRE Group, Inc. will post 7.76 EPS for the current year.

Hedge Funds Weigh In On CBRE Group

Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of CBRE Group by 20.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,071,885 shares of the financial services provider’s stock valued at $400,973,000 after acquiring an additional 512,536 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in CBRE Group by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,896,802 shares of the financial services provider’s stock worth $392,368,000 after acquiring an additional 159,482 shares in the last quarter. Sei Investments Co. grew its holdings in CBRE Group by 8.7% during the 1st quarter. Sei Investments Co. now owns 2,181,413 shares of the financial services provider’s stock worth $295,494,000 after acquiring an additional 175,344 shares in the last quarter. Amundi increased its position in CBRE Group by 12.1% during the 1st quarter. Amundi now owns 1,906,456 shares of the financial services provider’s stock valued at $258,249,000 after purchasing an additional 205,493 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in CBRE Group by 52.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,930,992 shares of the financial services provider’s stock valued at $248,075,000 after purchasing an additional 662,421 shares during the period. Hedge funds and other institutional investors own 98.41% of the company’s stock.

About CBRE Group

CBRE Group, Inc. is a commercial real estate services and investment company serving property owners, occupiers, investors and developers. Its services include property leasing and sales, property and facilities management, project management, valuation, consulting and commercial real estate financing. The company also provides real estate investment management and development services. Through its global operations, CBRE serves clients across a range of property types and markets, including offices, industrial facilities, retail properties and data centers.