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

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

Analysts Set New Price Targets

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

CBRE Group Stock Performance

NYSE:CBRE traded up $10.38 during mid-day trading on Thursday, hitting $133.50. 4,569,368 shares of the company traded hands, compared to its average volume of 1,646,155. The stock’s fifty day moving average price is $118.97 and its 200-day moving average price is $101.77. CBRE Group has a one year low of $64.63 and a one year high of $136.06. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. The firm has a market cap of $40.96 billion, a price-to-earnings ratio of 41.59 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. 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 during the quarter, compared to analyst estimates of $8.31 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. CBRE Group’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts anticipate that CBRE Group will post 4.81 earnings per share for the current fiscal year.

Insider Buying and Selling at CBRE Group

In other news, COO Vikramaditya Kohli sold 1,074 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was 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 owns 69,226 shares of the company’s stock, valued at $7,538,019.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Vikramaditya Kohli sold 1,074 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was 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 directly owns 69,226 shares of the company’s stock, valued at approximately $7,538,019.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lindsey S. Caplan sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $109.87, for a total value of $219,740.00. Following the sale, the chief accounting officer now owns 16,606 shares in the company, valued at approximately $1,824,501.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,232 shares of company stock valued at $3,058,787. Company 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.