FY2024 EPS Estimates for CBRE Group, Inc. Increased by Analyst (NYSE:CBRE)

CBRE Group, Inc. (NYSE:CBRE) – Equities researchers at Zacks Research boosted their FY2024 earnings per share estimates for CBRE Group in a research report issued to clients and investors on Tuesday, April 23rd. Zacks Research analyst R. Department now forecasts that the financial services provider will earn $4.42 per share for the year, up from their prior estimate of $4.39. The consensus estimate for CBRE Group’s current full-year earnings is $4.45 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 has been the subject of a number of other reports. StockNews.com raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Tuesday. Evercore ISI boosted their price objective on shares of CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a report on Tuesday, April 2nd. Raymond James lifted their price objective on shares of CBRE Group from $95.00 to $103.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods lifted their price target on CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. Finally, TheStreet upgraded CBRE Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.50.

CBRE Group Stock Up 0.3 %

NYSE:CBRE opened at $87.28 on Thursday. CBRE Group has a twelve month low of $64.63 and a twelve month high of $98.65. The company has a market cap of $26.79 billion, a price-to-earnings ratio of 27.53 and a beta of 1.42. The stock has a fifty day simple moving average of $92.13 and a 200-day simple moving average of $85.30. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.31.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, February 15th. The financial services provider reported $1.38 EPS for the quarter, topping 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 company had revenue of $8.95 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. CBRE Group’s quarterly revenue was up 9.2% compared to the same quarter last year.

Institutional Investors Weigh In On CBRE Group

Several institutional investors have recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC increased its position in shares of CBRE Group by 190.6% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 497 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 326 shares in the last quarter. Headinvest LLC purchased a new stake in shares of CBRE Group during the third quarter worth $44,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of CBRE Group in the fourth quarter valued at about $45,000. Bruce G. Allen Investments LLC purchased a new position in shares of CBRE Group in the fourth quarter worth about $48,000. Finally, Planned Solutions Inc. acquired a new position in CBRE Group during the fourth quarter worth about $52,000. 98.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CBRE Group

In other CBRE Group news, CEO Chandra Dhandapani sold 11,925 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the transaction, the chief executive officer now owns 127,064 shares in the company, valued at $11,947,827.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 transaction of $249,444.51. Following the completion of the sale, the chief financial officer now owns 72,350 shares of the company’s stock, valued at $6,766,895.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chandra Dhandapani sold 11,925 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the transaction, the chief executive officer now owns 127,064 shares of the company’s stock, valued at approximately $11,947,827.92. The disclosure for this sale can be found here. Insiders sold a total of 39,592 shares of company stock worth $3,675,752 in the last 90 days. Corporate 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.