Somewhat Favorable Media Coverage Somewhat Unlikely to Affect CBRE Group (CBG) Share Price
Media coverage about CBRE Group (NYSE:CBG) has trended somewhat positive this week, Accern Sentiment reports. The research firm scores the sentiment of news coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. CBRE Group earned a media sentiment score of 0.18 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 45.3293016538414 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the news articles that may have impacted Accern’s scoring:
- Can CBRE Group (CBG) Keep the Earnings Streak Alive This Quarter? (finance.yahoo.com)
- New York City’s Boutique Office Buildings Attract Big-Name Tenants (advfn.com)
- CBRE Group, Inc. (CBG) Expected to Post Quarterly Sales of $3.42 Billion (americanbankingnews.com)
- CEO, GWS of CBRE Group Inc ss A (NYSE:CBG), Concannon William F, sells 25,000 shares worth $975,493 (empowerednews.net)
- William F. Concannon Sells 25,000 Shares of CBRE Group, Inc. (CBG) Stock (americanbankingnews.com)
A number of brokerages recently issued reports on CBG. Barclays PLC lifted their price target on shares of CBRE Group from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Wedbush restated an “outperform” rating and set a $38.00 price objective on shares of CBRE Group in a research note on Wednesday, August 2nd. UBS AG initiated coverage on shares of CBRE Group in a research note on Wednesday, July 26th. They set a “neutral” rating and a $41.00 price objective for the company. BidaskClub lowered shares of CBRE Group from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 price target on shares of CBRE Group in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.60.
CBRE Group (CBG) opened at 39.06 on Wednesday. CBRE Group has a 12-month low of $25.40 and a 12-month high of $39.09. The stock has a 50 day moving average of $37.00 and a 200 day moving average of $35.88. The stock has a market cap of $13.16 billion, a P/E ratio of 19.06 and a beta of 1.82.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts anticipate that CBRE Group will post $2.57 earnings per share for the current fiscal year.
In other CBRE Group news, CEO William F. Concannon sold 20,000 shares of CBRE Group stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $38.09, for a total value of $761,800.00. Following the completion of the transaction, the chief executive officer now directly owns 233,896 shares of the company’s stock, valued at approximately $8,909,098.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Laurence H. Midler sold 3,139 shares of CBRE Group stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $36.00, for a total value of $113,004.00. Following the completion of the transaction, the executive vice president now directly owns 90,541 shares of the company’s stock, valued at $3,259,476. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,715,787 shares of company stock worth $205,347,397. 1.00% of the stock is owned by insiders.
About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as 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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