Wedbush Reiterates Outperform Rating for CBRE Group, Inc. (CBG)
CBRE Group, Inc. (NYSE:CBG)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research report issued to clients and investors on Wednesday. They presently have a $35.00 price objective on the stock, down from their prior price objective of $38.00. Wedbush’s price objective points to a potential downside of 0.06% from the company’s current price.
Separately, Zacks Investment Research downgraded shares of CBRE Group from a “hold” rating to a “sell” rating in a research report on Tuesday, February 7th.
CBRE Group (NYSE:CBG) opened at 35.02 on Wednesday. The stock’s 50 day moving average price is $31.40 and its 200-day moving average price is $29.53. CBRE Group has a 12 month low of $23.80 and a 12 month high of $35.65. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 20.72 and a beta of 1.70.
CBRE Group (NYSE:CBG) last posted its earnings results on Friday, February 10th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. The company earned $3.80 billion during the quarter, compared to the consensus estimate of $3.89 billion. CBRE Group had a net margin of 4.38% and a return on equity of 26.37%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 earnings per share. Equities analysts expect that CBRE Group will post $2.37 EPS for the current year.
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In other CBRE Group news, CFO James R. Groch sold 85,000 shares of the company’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $34.74, for a total value of $2,952,900.00. Following the completion of the transaction, the chief financial officer now owns 480,483 shares in the company, valued at $16,691,979.42. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Lafitte sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $35.00, for a total transaction of $525,000.00. Following the completion of the transaction, the insider now owns 308,053 shares of the company’s stock, valued at approximately $10,781,855. The disclosure for this sale can be found here. Insiders have sold 155,000 shares of company stock valued at $5,185,050 over the last 90 days. 1.10% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CBG. Parkwood LLC increased its position in shares of CBRE Group by 0.4% in the third quarter. Parkwood LLC now owns 9,380 shares of the company’s stock worth $262,000 after buying an additional 42 shares during the period. Independent Portfolio Consultants Inc. increased its position in shares of CBRE Group by 0.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 24,596 shares of the company’s stock worth $688,000 after buying an additional 85 shares during the period. TCW Group Inc. increased its position in shares of CBRE Group by 0.5% in the fourth quarter. TCW Group Inc. now owns 22,150 shares of the company’s stock worth $698,000 after buying an additional 100 shares during the period. Argentus Capital Management LLC increased its position in shares of CBRE Group by 1.3% in the third quarter. Argentus Capital Management LLC now owns 8,521 shares of the company’s stock worth $238,000 after buying an additional 107 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its position in shares of CBRE Group by 1.3% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 10,755 shares of the company’s stock worth $301,000 after buying an additional 133 shares during the period. Institutional investors and hedge funds own 95.98% of the company’s stock.
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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