CBRE Group (NYSE:CBRE) Posts Earnings Results, Beats Estimates By $0.12 EPS

CBRE Group (NYSE:CBRE) issued its quarterly earnings data on Thursday. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12, Briefing.com reports. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The business had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same period last year, the business earned $0.82 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. CBRE Group updated its FY24 guidance to $4.70-$4.90 EPS and its FY 2024 guidance to 4.700-4.900 EPS.

CBRE Group Trading Up 2.9 %

Shares of CBRE stock traded up $3.12 on Friday, reaching $110.55. 3,578,154 shares of the stock were exchanged, compared to its average volume of 1,475,929. The stock has a 50 day moving average price of $90.59 and a 200 day moving average price of $90.03. The stock has a market cap of $33.92 billion, a PE ratio of 34.44 and a beta of 1.40. CBRE Group has a one year low of $64.63 and a one year high of $112.21. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.15.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of CBRE Group from $100.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday. Raymond James boosted their price objective on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday. StockNews.com lowered CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Evercore ISI upgraded CBRE Group from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $100.00 to $123.00 in a report on Friday. Finally, Jefferies Financial Group initiated coverage on shares of CBRE Group in a research note on Wednesday, April 10th. They issued a “hold” rating and a $107.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.86.

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.