CBRE Group, Inc. (NYSE:CBG) announced its quarterly earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.10, Bloomberg Earnings reports. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.45 billion. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. CBRE Group updated its FY17 guidance to $2.58-2.68 EPS.
CBRE Group (NYSE CBG) opened at $42.18 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market capitalization of $14,097.74, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.22 and a beta of 1.83. CBRE Group has a 12 month low of $27.68 and a 12 month high of $42.21.
A number of analysts have recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $38.00 price objective on shares of CBRE Group in a research note on Wednesday, August 2nd. Barclays PLC boosted their target price on shares of CBRE Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. UBS AG began coverage on shares of CBRE Group in a research note on Wednesday, July 26th. They set a “neutral” rating and a $41.00 target price for the company. BidaskClub downgraded shares of CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Bank of America Corporation upped their price objective on shares of CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. CBRE Group currently has a consensus rating of “Hold” and an average price target of $40.33.
In related news, insider Michael J. Lafitte sold 27,775 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $35.71, for a total value of $991,845.25. Following the transaction, the insider now owns 308,567 shares in the company, valued at $11,018,927.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Laurence H. Midler sold 9,632 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $36.24, for a total value of $349,063.68. Following the completion of the transaction, the executive vice president now owns 111,720 shares in the company, valued at approximately $4,048,732.80. The disclosure for this sale can be found here. Insiders have sold 5,644,345 shares of company stock valued at $202,991,077 over the last quarter. Corporate insiders own 1.00% of the company’s stock.
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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