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

CBRE Group (NYSE:CBRE) is scheduled to issue its quarterly earnings data 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.Parties interested in registering for the company’s conference call can do so using this link.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.31 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. CBRE Group’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 EPS. 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 Trading Up 1.4 %

NYSE CBRE opened at $124.45 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The firm has a market cap of $38.18 billion, a PE ratio of 38.77 and a beta of 1.40. The company has a 50 day moving average price of $117.51 and a 200 day moving average price of $100.77. CBRE Group has a 52 week low of $64.63 and a 52 week high of $125.43.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Raymond James upped their price target on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Morgan Stanley assumed coverage on shares of CBRE Group in a research note on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price target on the stock. Finally, Evercore ISI upped their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $113.83.

Insider Buying and Selling

In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the transaction, the director now directly owns 51,244 shares in the company, valued at approximately $5,739,328. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the transaction, the director now directly owns 51,244 shares in the company, valued at approximately $5,739,328. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,232 shares of company stock valued at $3,058,787. 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.