Equities Analysts Offer Predictions for CBRE Group Inc’s Q3 2019 Earnings (CBG)
CBRE Group Inc (NYSE:CBG) – Wedbush issued their Q3 2019 earnings per share estimates for shares of CBRE Group in a note issued to investors on Monday. Wedbush analyst J. Weaver forecasts that the financial services provider will earn $0.71 per share for the quarter. Wedbush has a “Outperform” rating and a $46.50 price target on the stock. Wedbush also issued estimates for CBRE Group’s Q4 2019 earnings at $1.34 EPS.
Several other research firms have also weighed in on CBG. JMP Securities lowered CBRE Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 24th. They noted that the move was a valuation call. Evercore ISI began coverage on CBRE Group in a report on Monday, January 22nd. They set an “in-line” rating and a $48.00 price target on the stock. ValuEngine upgraded CBRE Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Barclays increased their price target on CBRE Group from $47.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Finally, Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.56.
CBRE Group (NYSE:CBG) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.06. CBRE Group had a return on equity of 25.03% and a net margin of 4.87%. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the firm posted $0.93 EPS. CBRE Group’s quarterly revenue was up 13.4% compared to the same quarter last year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank grew its position in shares of CBRE Group by 25.6% during the 2nd quarter. Toronto Dominion Bank now owns 101,905 shares of the financial services provider’s stock worth $3,709,000 after buying an additional 20,739 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in CBRE Group by 70.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,724 shares of the financial services provider’s stock valued at $11,884,000 after purchasing an additional 130,144 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in CBRE Group during the third quarter valued at about $748,000. Candriam Luxembourg S.C.A. boosted its position in CBRE Group by 1.0% during the third quarter. Candriam Luxembourg S.C.A. now owns 589,741 shares of the financial services provider’s stock valued at $22,339,000 after purchasing an additional 6,060 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in CBRE Group by 4.6% during the third quarter. Legal & General Group Plc now owns 1,540,359 shares of the financial services provider’s stock valued at $58,349,000 after purchasing an additional 67,625 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.
In other CBRE Group news, insider Robert E. Sulentic sold 40,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $42.56, for a total value of $1,702,400.00. Following the transaction, the insider now owns 597,971 shares of the company’s stock, valued at approximately $25,449,645.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Holdings L.P. Valueact sold 84,500 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $42.82, for a total value of $3,618,290.00. The disclosure for this sale can be found here. Insiders sold a total of 3,000,687 shares of company stock worth $128,188,805 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 22nd. Shareholders of record on Monday, April 23rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.23%.
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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