Analysts Expect CBRE Group Inc (NYSE:CBRE) Will Post Earnings of $0.80 Per Share
Wall Street brokerages predict that CBRE Group Inc (NYSE:CBRE) will announce $0.80 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for CBRE Group’s earnings. The highest EPS estimate is $0.82 and the lowest is $0.78. CBRE Group reported earnings of $0.74 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.1%. The firm is expected to announce its next quarterly earnings report before the market opens on Thursday, August 1st.
According to Zacks, analysts expect that CBRE Group will report full year earnings of $3.63 per share for the current financial year, with EPS estimates ranging from $3.55 to $3.68. For the next year, analysts anticipate that the firm will post earnings of $3.86 per share, with EPS estimates ranging from $3.74 to $3.95. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for CBRE Group.
CBRE Group (NYSE:CBRE) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.20. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. CBRE Group had a return on equity of 24.72% and a net margin of 4.94%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS.
Shares of NYSE CBRE traded up $0.24 during trading hours on Thursday, reaching $52.28. 973,040 shares of the stock traded hands, compared to its average volume of 1,562,634. The stock has a market cap of $17.63 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.32 and a beta of 1.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.16 and a quick ratio of 1.16. CBRE Group has a 52-week low of $37.45 and a 52-week high of $53.15. The business’s 50-day moving average is $49.83.
In related news, CEO Robert E. Sulentic sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the transaction, the chief executive officer now directly owns 841,601 shares of the company’s stock, valued at approximately $42,080,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James R. Groch sold 50,000 shares of CBRE Group stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $52.00, for a total value of $2,600,000.00. Following the completion of the transaction, the chief financial officer now directly owns 454,918 shares in the company, valued at $23,655,736. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,766 shares of company stock worth $5,061,995. 0.74% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in CBRE Group by 1.6% in the 1st quarter. BlackRock Inc. now owns 22,982,394 shares of the financial services provider’s stock worth $1,136,481,000 after purchasing an additional 363,540 shares during the period. Harris Associates L P increased its stake in CBRE Group by 7.5% in the 4th quarter. Harris Associates L P now owns 14,433,299 shares of the financial services provider’s stock worth $577,909,000 after purchasing an additional 1,005,359 shares during the period. FMR LLC increased its stake in CBRE Group by 3.5% in the 4th quarter. FMR LLC now owns 7,699,677 shares of the financial services provider’s stock worth $308,296,000 after purchasing an additional 263,050 shares during the period. Wells Fargo & Company MN increased its stake in CBRE Group by 5.5% in the 1st quarter. Wells Fargo & Company MN now owns 7,371,531 shares of the financial services provider’s stock worth $364,523,000 after purchasing an additional 384,607 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its stake in CBRE Group by 22.4% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 4,472,640 shares of the financial services provider’s stock worth $179,085,000 after purchasing an additional 817,343 shares during the period. 92.88% of the stock is currently owned by institutional investors and hedge funds.
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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