FY2024 EPS Estimates for CBRE Group Raised by Zacks Research

CBRE Group, Inc. (NYSE:CBRE) – Research analysts at Zacks Research lifted their FY2024 earnings estimates for CBRE Group in a report issued on Thursday, November 14th. Zacks Research analyst R. Department now expects that the financial services provider will post earnings per share of $4.89 for the year, up from their prior forecast of $4.71. The consensus estimate for CBRE Group’s current full-year earnings is $4.94 per share. Zacks Research also issued estimates for CBRE Group’s Q4 2024 earnings at $2.10 EPS, Q1 2025 earnings at $0.94 EPS, Q2 2025 earnings at $1.08 EPS, Q3 2025 earnings at $1.42 EPS, Q4 2025 earnings at $2.40 EPS, FY2025 earnings at $5.84 EPS, Q2 2026 earnings at $1.57 EPS, Q3 2026 earnings at $1.73 EPS and FY2026 earnings at $6.77 EPS.

Several other analysts have also issued reports on the company. Raymond James increased their target price on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 25th. Wolfe Research raised CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Keefe, Bruyette & Woods lifted their target price on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Evercore ISI lifted their target price on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Morgan Stanley initiated coverage on shares of CBRE Group in a research report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price target on the stock. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $116.83.

CBRE Group Stock Performance

Shares of CBRE stock opened at $130.23 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $125.26 and its 200-day simple moving average is $107.18. The firm has a market cap of $39.85 billion, a PE ratio of 41.87 and a beta of 1.39. CBRE Group has a 12 month low of $76.63 and a 12 month high of $137.93.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The business had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year.

Institutional Investors Weigh In On CBRE Group

Several hedge funds have recently made changes to their positions in the company. Canton Hathaway LLC acquired a new stake in CBRE Group during the 3rd quarter worth about $27,000. American National Bank & Trust purchased a new stake in CBRE Group during the 3rd quarter worth approximately $28,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of CBRE Group by 190.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 215 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of CBRE Group in the first quarter worth approximately $30,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of CBRE Group during the third quarter worth approximately $32,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CBRE Group

In other news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction that occurred on 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 sale, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total value of $1,214,864.00. Following the transaction, the director now owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. The trade was a 17.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

CBRE Group Company Profile

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.