CBRE Group (CBRE) Set to Announce Quarterly Earnings on Thursday

CBRE Group (NYSE:CBRE) will be announcing its earnings results before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $1.06 per share for the quarter. CBRE Group has set its FY24 guidance at $4.70-$4.90 EPS and its FY 2024 guidance at 4.700-4.900 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.31 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 earnings per share. On average, analysts expect CBRE Group to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

CBRE Group Stock Performance

Shares of NYSE CBRE opened at $124.45 on Thursday. The firm has a fifty day moving average price of $117.51 and a 200-day moving average price of $100.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $38.18 billion, a PE ratio of 38.77 and a beta of 1.40. CBRE Group has a 1 year low of $64.63 and a 1 year high of $125.43.

Wall Street Analysts Forecast Growth

CBRE has been the subject of a number of analyst reports. Evercore ISI increased their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Raymond James increased their price objective on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods increased their price objective on shares of CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Morgan Stanley initiated coverage on shares of CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. Finally, UBS Group reduced their price objective on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, CBRE Group has a consensus rating of “Moderate Buy” and a consensus price target of $113.83.

Insider Activity at CBRE Group

In related news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the transaction, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other CBRE Group news, CAO Lindsey S. Caplan sold 2,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $109.87, for a total value of $219,740.00. Following the completion of the sale, the chief accounting officer now directly owns 16,606 shares of the company’s stock, valued at $1,824,501.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,232 shares of company stock valued at $3,058,787. Corporate insiders own 0.54% of the company’s stock.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; 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.