CBRE Group (NYSE:CBRE) Releases FY24 Earnings Guidance

CBRE Group (NYSE:CBRE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.95-5.05 for the period, compared to the consensus estimate of $4.82. CBRE Group also updated its FY 2024 guidance to 4.950-5.050 EPS.

Wall Street Analyst Weigh In

CBRE has been the subject of several research reports. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Morgan Stanley began coverage on shares of CBRE Group in a research report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective on the stock. UBS Group decreased their target price on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Evercore ISI lifted their price target on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Raymond James increased their price objective on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, CBRE Group has an average rating of “Moderate Buy” and a consensus target price of $113.83.

CBRE Group Stock Performance

NYSE:CBRE traded down $0.96 during mid-day trading on Friday, hitting $132.54. 2,186,354 shares of the company’s stock traded hands, compared to its average volume of 1,648,766. CBRE Group has a 12 month low of $64.63 and a 12 month high of $136.06. The firm has a market capitalization of $40.67 billion, a price-to-earnings ratio of 41.29 and a beta of 1.40. The firm has a 50 day moving average of $119.85 and a two-hundred day moving average of $102.24. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results 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 firm had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. On average, equities analysts forecast that CBRE Group will post 4.81 earnings per share for the current fiscal year.

Insider Activity at CBRE Group

In other news, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the completion of the sale, the chief executive officer now owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Vikramaditya Kohli sold 1,074 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total value of $116,947.86. Following the completion of the transaction, the chief operating officer now directly owns 69,226 shares in the company, valued at approximately $7,538,019.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,232 shares of company stock valued at $2,839,047 over the last ninety days. 0.54% of the stock is owned by insiders.

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.