Brokers Set Expectations for CBRE Group, Inc.’s FY2024 Earnings (NYSE:CBRE)

CBRE Group, Inc. (NYSE:CBRE) – Research analysts at Zacks Research lifted their FY2024 EPS estimates for CBRE Group in a research note issued on Tuesday, April 23rd. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings of $4.42 per share for the year, up from their previous forecast of $4.39. The consensus estimate for CBRE Group’s current full-year earnings is $4.44 per share. Zacks Research also issued estimates for CBRE Group’s Q4 2024 earnings at $1.75 EPS, Q2 2025 earnings at $1.52 EPS, Q4 2025 earnings at $1.80 EPS and FY2025 earnings at $5.72 EPS.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, February 15th. The financial services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.21 by $0.17. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The business had revenue of $8.95 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis.

Several other research analysts also recently issued reports on the stock. Evercore ISI upped their price target on shares of CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $96.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Raymond James upped their price target on shares of CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 25th. Jefferies Financial Group assumed coverage on shares of CBRE Group in a report on Wednesday, April 10th. They set a “hold” rating and a $107.00 price target for the company. Finally, TheStreet upgraded shares of CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $99.50.

CBRE Group Stock Up 0.3 %

Shares of NYSE:CBRE opened at $87.01 on Thursday. The company has a fifty day moving average of $92.25 and a 200-day moving average of $85.20. The company has a market capitalization of $26.71 billion, a PE ratio of 27.45 and a beta of 1.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.17 and a current ratio of 1.17. CBRE Group has a 52-week low of $64.63 and a 52-week high of $98.65.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 2,667 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the sale, the chief financial officer now owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Chandra Dhandapani sold 11,925 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $94.03, for a total value of $1,121,307.75. Following the transaction, the chief executive officer now directly owns 127,064 shares of the company’s stock, valued at approximately $11,947,827.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 2,667 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $93.53, for a total value of $249,444.51. Following the completion of the transaction, the chief financial officer now directly owns 72,350 shares in the company, valued at $6,766,895.50. The disclosure for this sale can be found here. Insiders have sold a total of 39,592 shares of company stock valued at $3,675,752 over the last 90 days. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On CBRE Group

Several institutional investors have recently added to or reduced their stakes in CBRE. Norges Bank acquired a new position in CBRE Group in the fourth quarter valued at approximately $381,164,000. Wellington Management Group LLP lifted its stake in CBRE Group by 164.1% in the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after buying an additional 2,799,097 shares during the period. Parnassus Investments LLC acquired a new position in CBRE Group in the fourth quarter valued at approximately $104,277,000. Principal Financial Group Inc. lifted its stake in CBRE Group by 15.1% in the third quarter. Principal Financial Group Inc. now owns 6,820,818 shares of the financial services provider’s stock valued at $503,786,000 after buying an additional 894,521 shares during the period. Finally, Harris Associates L P increased its holdings in shares of CBRE Group by 4.5% during the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock valued at $1,489,919,000 after acquiring an additional 683,225 shares in the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

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.