FY2024 EPS Estimates for CBRE Group Raised by Zacks Research

CBRE Group, Inc. (NYSE:CBRE - Free Report) - Equities research analysts at Zacks Research lifted their FY2024 earnings estimates for shares of CBRE Group in a report released on Thursday, November 14th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings per share of $4.89 for the year, up from their prior estimate of $4.71. The consensus estimate for CBRE Group's current full-year earnings is $4.94 per share. Zacks Research also issued estimates for CBRE Group's Q4 2024 earnings at $2.10 EPS, Q1 2025 earnings at $0.94 EPS, Q2 2025 earnings at $1.08 EPS, Q3 2025 earnings at $1.42 EPS, Q4 2025 earnings at $2.40 EPS, FY2025 earnings at $5.84 EPS, Q2 2026 earnings at $1.57 EPS, Q3 2026 earnings at $1.73 EPS and FY2026 earnings at $6.77 EPS.

CBRE Group (NYSE:CBRE - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company had revenue of $9.04 billion for the quarter, compared to analysts' expectations of $8.80 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. CBRE Group's revenue was up 14.8% compared to the same quarter last year.

A number of other analysts have also recently weighed in on CBRE. Morgan Stanley assumed 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. Keefe, Bruyette & Woods upped their price objective on CBRE Group from $125.00 to $138.00 and gave the company a "market perform" rating in a report on Tuesday, October 29th. Raymond James raised their price target on shares of CBRE Group from $122.00 to $124.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 25th. Evercore ISI raised their price objective on CBRE Group from $123.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Finally, Wolfe Research raised shares of CBRE Group to a "strong-buy" rating in a report on Friday, August 16th. 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 company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $116.83.

CBRE Group Stock Performance

CBRE Group stock traded up $2.44 during mid-day trading on Monday, reaching $132.67. 1,872,105 shares of the company were exchanged, compared to its average volume of 1,668,329. The firm has a market cap of $40.60 billion, a PE ratio of 41.87 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. CBRE Group has a twelve month low of $76.63 and a twelve month high of $137.93. The firm's 50-day simple moving average is $125.26 and its two-hundred day simple moving average is $107.18.

Insider Activity at CBRE Group

In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total value of $1,146,700.00. Following the transaction, the chief executive officer now owns 217,094 shares of the company's stock, valued at approximately $24,894,168.98. This represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $1,214,864.00. Following the sale, the director now directly owns 51,244 shares in the company, valued at $5,739,328. This trade represents a 17.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Institutional Trading of CBRE Group

Several hedge funds and other institutional investors have recently made changes to their positions in CBRE. Rehmann Capital Advisory Group grew its holdings in CBRE Group by 5.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 5,647 shares of the financial services provider's stock valued at $705,000 after buying an additional 275 shares in the last quarter. TD Private Client Wealth LLC increased its stake in CBRE Group by 32.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,895 shares of the financial services provider's stock valued at $360,000 after purchasing an additional 709 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of CBRE Group by 1.4% in the 3rd quarter. Toronto Dominion Bank now owns 149,790 shares of the financial services provider's stock valued at $18,646,000 after purchasing an additional 2,094 shares in the last quarter. Neo Ivy Capital Management boosted its position in CBRE Group by 122.9% during the third quarter. Neo Ivy Capital Management now owns 4,992 shares of the financial services provider's stock worth $622,000 after acquiring an additional 2,752 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in CBRE Group by 16.1% during the third quarter. Coldstream Capital Management Inc. now owns 3,898 shares of the financial services provider's stock worth $490,000 after acquiring an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 98.41% 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.