CBRE Group (NYSE:CBRE) Reaches New 12-Month High After Earnings Beat

Shares of CBRE Group, Inc. (NYSE:CBRE) reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $168.00 and last traded at $164.61, with a volume of 2911 shares changing hands. The stock had previously closed at $163.77.

The financial services provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.15. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. The firm had revenue of $10.26 billion during the quarter, compared to analyst estimates of $10.11 billion. During the same quarter in the prior year, the business posted $1.20 earnings per share. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. CBRE Group has set its FY 2025 guidance at 6.250-6.350 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CBRE shares. UBS Group increased their price target on shares of CBRE Group from $146.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Raymond James Financial increased their price target on shares of CBRE Group from $163.00 to $166.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods increased their price target on shares of CBRE Group from $167.00 to $168.00 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CBRE Group in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.78.

Insider Activity

In other news, CFO Emma E. Giamartino sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $157.60, for a total transaction of $315,200.00. Following the sale, the chief financial officer directly owned 103,371 shares of the company’s stock, valued at $16,291,269.60. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vikramaditya Kohli sold 1,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $154.90, for a total transaction of $154,900.00. Following the sale, the chief executive officer directly owned 111,473 shares in the company, valued at $17,267,167.70. This trade represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,494 shares of company stock valued at $857,593 over the last three months. 0.42% of the stock is owned by insiders.

Institutional Trading of CBRE Group

Several hedge funds have recently modified their holdings of the stock. WPG Advisers LLC acquired a new position in CBRE Group in the first quarter valued at approximately $26,000. Hughes Financial Services LLC acquired a new position in CBRE Group in the first quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in CBRE Group in the second quarter valued at approximately $30,000. Golden State Wealth Management LLC lifted its holdings in CBRE Group by 687.1% in the first quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider’s stock valued at $32,000 after buying an additional 213 shares during the period. Finally, Evelyn Partners Asset Management Ltd acquired a new position in CBRE Group in the second quarter valued at approximately $32,000. 98.41% of the stock is owned by institutional investors.

CBRE Group Price Performance

The company’s fifty day moving average is $159.83 and its two-hundred day moving average is $142.62. The firm has a market capitalization of $48.81 billion, a price-to-earnings ratio of 45.95 and a beta of 1.36. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.51.

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.