Zacks Research Raises Earnings Estimates for CBRE Group

CBRE Group, Inc. (NYSE:CBRE) – Equities research analysts at Zacks Research lifted their FY2024 earnings per share estimates for CBRE Group in a research note issued on Thursday, November 14th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings of $4.89 per share 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.

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

A number of other equities analysts also recently commented on the company. Keefe, Bruyette & Woods lifted their price target on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Evercore ISI raised their price objective on 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 boosted their target price 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. Finally, Morgan Stanley initiated coverage on shares of CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, CBRE Group currently has an average rating of “Moderate Buy” and an average price target of $116.83.

CBRE Group Stock Performance

CBRE Group stock opened at $132.17 on Monday. CBRE Group has a 52 week low of $76.63 and a 52 week high of $137.93. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. The stock has a market cap of $40.45 billion, a P/E ratio of 42.50 and a beta of 1.39. The stock has a 50 day moving average of $125.92 and a 200-day moving average of $107.82.

Hedge Funds Weigh In On CBRE Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new stake in shares of CBRE Group in the 1st quarter valued at approximately $336,000. Empowered Funds LLC boosted its position in shares of CBRE Group by 21.6% in the first quarter. Empowered Funds LLC now owns 3,811 shares of the financial services provider’s stock worth $371,000 after buying an additional 678 shares during the period. Intech Investment Management LLC grew its holdings in shares of CBRE Group by 232.4% during the first quarter. Intech Investment Management LLC now owns 13,961 shares of the financial services provider’s stock valued at $1,358,000 after buying an additional 9,761 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in CBRE Group by 14.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 21,132 shares of the financial services provider’s stock valued at $2,055,000 after buying an additional 2,673 shares during the period. Finally, Lake Street Advisors Group LLC lifted its stake in CBRE Group by 112.9% in the 1st quarter. Lake Street Advisors Group LLC now owns 5,181 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 2,747 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

Insider Activity

In related news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the transaction, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at $9,214,026.36. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel G. Queenan sold 10,000 shares of the company’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 directly owns 217,094 shares of the company’s stock, valued at $24,894,168.98. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.