CBRE Group (NYSE:CBRE) Cut to “Hold” at Zacks Investment Research

CBRE Group (NYSE:CBREGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. They presently have a $87.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 3.77% from the stock’s previous close.

According to Zacks, “Shares of CBRE Group have outperformed the industry over the past year. The recent estimate revision trend for 2022 earnings indicates a favorable outlook for the company, with estimates moving north. The company continues to benefits from diversifying across asset types, business lines, client types and geographies as well as expanding its resilient business in recent years. A healthy balance sheet and supportive macro environment supports CBRE Group. Further, the company is well-poised to ride its growth curve with its wide real estate products and services offerings, healthy outsourcing business, strategic buyouts, technology investments and solid balance-sheet strength. However, macroeconomic uncertainty and an adverse impact on commercial real estate transactions are major concerns. Also, there is stiff competition from other industry players.”

Several other equities research analysts also recently issued reports on CBRE. Raymond James lowered their price target on CBRE Group from $126.00 to $111.00 and set an “outperform” rating on the stock in a research report on Tuesday. StockNews.com started coverage on CBRE Group in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Wolfe Research decreased their target price on CBRE Group from $171.00 to $116.00 and set an “outperform” rating on the stock in a research report on Thursday, March 10th. Finally, The Goldman Sachs Group started coverage on CBRE Group in a research report on Tuesday, April 5th. They set a “buy” rating and a $111.00 target price on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $108.00.

CBRE Group stock traded up $1.20 during mid-day trading on Wednesday, hitting $83.84. 29,168 shares of the company’s stock were exchanged, compared to its average volume of 1,782,016. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.16. The stock has a market cap of $27.72 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.28 and a beta of 1.37. CBRE Group has a 1-year low of $79.84 and a 1-year high of $111.00. The stock has a 50 day moving average of $90.40 and a two-hundred day moving average of $98.44.

CBRE Group (NYSE:CBREGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The financial services provider reported $2.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.42. The company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.16 billion. CBRE Group had a return on equity of 24.38% and a net margin of 6.62%. The firm’s revenue was up 23.7% compared to the same quarter last year. During the same period last year, the business posted $1.45 earnings per share. As a group, research analysts predict that CBRE Group will post 6.15 EPS for the current fiscal year.

In other CBRE Group news, CEO Robert E. Sulentic sold 30,000 shares of the firm’s stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $90.09, for a total transaction of $2,702,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Emma E. Giamartino sold 271 shares of the firm’s stock in a transaction dated Friday, February 18th. The stock was sold at an average price of $99.68, for a total transaction of $27,013.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,381 shares of company stock worth $4,209,073. 0.75% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its stake in shares of CBRE Group by 14.2% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 29,124 shares of the financial services provider’s stock valued at $3,160,000 after acquiring an additional 3,626 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of CBRE Group by 33.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,000,808 shares of the financial services provider’s stock valued at $97,439,000 after acquiring an additional 248,493 shares during the last quarter. Abacus Planning Group Inc. bought a new position in shares of CBRE Group in the fourth quarter valued at approximately $214,000. Banque Pictet & Cie SA raised its stake in shares of CBRE Group by 66.7% in the fourth quarter. Banque Pictet & Cie SA now owns 19,782 shares of the financial services provider’s stock valued at $2,147,000 after acquiring an additional 7,914 shares during the last quarter. Finally, AE Wealth Management LLC raised its position in CBRE Group by 4.2% in the 4th quarter. AE Wealth Management LLC now owns 28,630 shares of the financial services provider’s stock worth $3,107,000 after purchasing an additional 1,153 shares during the last quarter. Institutional investors own 94.39% of the company’s stock.

About CBRE Group (Get Rating)

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services 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.

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