Zacks: Brokerages Expect CBRE Group Inc (CBRE) Will Announce Quarterly Sales of $5.12 Billion
Analysts expect CBRE Group Inc (NYSE:CBRE) to post $5.12 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for CBRE Group’s earnings. The lowest sales estimate is $5.09 billion and the highest is $5.15 billion. CBRE Group posted sales of $3.55 billion during the same quarter last year, which would indicate a positive year over year growth rate of 44.2%. The business is expected to announce its next earnings results on Friday, November 2nd.
On average, analysts expect that CBRE Group will report full-year sales of $20.93 billion for the current fiscal year, with estimates ranging from $20.88 billion to $20.98 billion. For the next year, analysts expect that the firm will post sales of $22.82 billion per share, with estimates ranging from $22.70 billion to $22.94 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow CBRE Group.
CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, August 2nd. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. CBRE Group had a net margin of 4.21% and a return on equity of 23.53%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.72 billion. The firm’s quarterly revenue was up 15.1% on a year-over-year basis.
Shares of CBRE Group stock traded down $0.01 during trading hours on Thursday, reaching $46.45. The company’s stock had a trading volume of 1,026,300 shares, compared to its average volume of 1,884,315. CBRE Group has a one year low of $36.14 and a one year high of $50.43. The firm has a market capitalization of $15.85 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.14 and a beta of 1.77. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.39.
In other news, CFO James R. Groch sold 50,000 shares of the stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $49.01, for a total value of $2,450,500.00. Following the completion of the sale, the chief financial officer now owns 478,015 shares in the company, valued at $23,427,515.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William F. Concannon sold 28,878 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $47.47, for a total transaction of $1,370,838.66. Following the completion of the sale, the chief executive officer now owns 204,631 shares of the company’s stock, valued at approximately $9,713,833.57. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Stratos Wealth Partners LTD. purchased a new stake in shares of CBRE Group in the first quarter valued at about $107,000. ClariVest Asset Management LLC purchased a new stake in shares of CBRE Group in the first quarter valued at about $122,000. Assetmark Inc. purchased a new stake in shares of CBRE Group in the first quarter valued at about $122,000. Quadrant Capital Group LLC purchased a new stake in shares of CBRE Group in the first quarter valued at about $136,000. Finally, Signaturefd LLC purchased a new stake in shares of CBRE Group in the first quarter valued at about $143,000. Institutional investors own 94.95% of the company’s stock.
About CBRE Group
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.
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