CBRE Group (NYSE:CBRE) Releases FY 2024 Earnings Guidance

CBRE Group (NYSE:CBRE) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 4.950-5.050 for the period, compared to the consensus EPS estimate of 4.810. The company issued revenue guidance of -. CBRE Group also updated its FY24 guidance to $4.95-5.05 EPS.

Analyst Ratings Changes

A number of research firms have issued reports on CBRE. Keefe, Bruyette & Woods increased their target price on shares of CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Evercore ISI upped their price objective on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. UBS Group decreased their target price on CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Wolfe Research upgraded CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Morgan Stanley assumed coverage on CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $113.83.

CBRE Group Stock Down 0.7 %

Shares of NYSE CBRE traded down $0.96 during midday trading on Friday, hitting $132.54. 2,186,354 shares of the company’s stock were exchanged, compared to its average volume of 1,648,766. The firm’s fifty day simple moving average is $119.85 and its 200-day simple moving average is $102.24. The company has a market cap of $40.67 billion, a PE ratio of 41.29 and a beta of 1.40. CBRE Group has a twelve month low of $64.63 and a twelve month high of $136.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 1.12.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The company had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.80 billion. During the same quarter last year, the company earned $0.72 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Research analysts predict that CBRE Group will post 4.81 EPS for the current fiscal year.

Insider Buying and Selling at CBRE Group

In other news, Director Christopher T. Jenny sold 10,847 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the completion of the sale, the director now directly owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other CBRE Group news, Director Christopher T. Jenny sold 10,847 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the transaction, the director now directly owns 51,244 shares of the company’s stock, valued at approximately $5,739,328. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Vikramaditya Kohli sold 1,074 shares of CBRE Group stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the transaction, the chief operating officer now owns 69,226 shares in the company, valued at approximately $7,538,019.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,232 shares of company stock worth $2,839,047 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

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.