$5.53 Billion in Sales Expected for CBRE Group Inc (NYSE:CBRE) This Quarter
Wall Street brokerages expect CBRE Group Inc (NYSE:CBRE) to post $5.53 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for CBRE Group’s earnings. The highest sales estimate is $5.55 billion and the lowest is $5.51 billion. CBRE Group posted sales of $5.11 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.2%. The firm is expected to report its next earnings results before the market opens on Thursday, August 1st.
On average, analysts expect that CBRE Group will report full year sales of $23.26 billion for the current financial year, with estimates ranging from $23.22 billion to $23.29 billion. For the next financial year, analysts anticipate that the business will post sales of $24.76 billion, with estimates ranging from $24.53 billion to $24.99 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for CBRE Group.
CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.20. CBRE Group had a net margin of 4.94% and a return on equity of 24.72%. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year.
In other news, insider Dara Bazzano sold 1,252 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $47.51, for a total value of $59,482.52. Following the completion of the sale, the insider now owns 21,246 shares of the company’s stock, valued at approximately $1,009,397.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert E. Sulentic sold 40,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 841,601 shares of the company’s stock, valued at approximately $42,080,050. The disclosure for this sale can be found here. In the last three months, insiders sold 49,766 shares of company stock valued at $2,461,995. Corporate insiders own 0.74% of the company’s stock.
Several institutional investors have recently made changes to their positions in CBRE. Hexavest Inc. bought a new stake in CBRE Group during the 2nd quarter valued at $30,000. Rational Advisors LLC raised its holdings in CBRE Group by 347.6% during the 1st quarter. Rational Advisors LLC now owns 640 shares of the financial services provider’s stock valued at $32,000 after buying an additional 497 shares during the last quarter. CX Institutional bought a new stake in CBRE Group during the 1st quarter valued at $35,000. Van ECK Associates Corp bought a new stake in CBRE Group during the 4th quarter valued at $38,000. Finally, Carroll Financial Associates Inc. raised its holdings in CBRE Group by 115.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 798 shares of the financial services provider’s stock valued at $40,000 after buying an additional 428 shares during the last quarter. 92.94% of the stock is owned by institutional investors.
CBRE Group stock traded down $0.11 during midday trading on Friday, reaching $52.11. 1,204,527 shares of the stock were exchanged, compared to its average volume of 1,282,091. The firm has a fifty day simple moving average of $50.60. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.52. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.31 and a beta of 1.70. CBRE Group has a 52 week low of $37.45 and a 52 week high of $53.15.
CBRE Group Company Profile
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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