CBRE Group Inc. (NYSE:CBG) – Stock analysts at William Blair cut their Q4 2016 earnings estimates for shares of CBRE Group in a report released on Sunday. William Blair analyst B. Dobell now forecasts that the firm will post earnings of $0.86 per share for the quarter, down from their previous forecast of $0.87.
CBRE Group (NYSE:CBG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. CBRE Group had a net margin of 4.28% and a return on equity of 26.58%. The business earned $3.20 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the firm posted $0.42 EPS. The company’s revenue was up 34.2% on a year-over-year basis.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded CBRE Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th. Wedbush initiated coverage on CBRE Group in a research note on Wednesday, October 5th. They set an “outperform” rating and a $35.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $38.60.
Shares of CBRE Group (NYSE:CBG) opened at 26.60 on Wednesday. The firm’s 50-day moving average is $28.50 and its 200-day moving average is $28.78. CBRE Group has a one year low of $22.74 and a one year high of $38.49. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 16.85 and a beta of 1.99.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp increased its position in shares of CBRE Group by 20,636.6% in the second quarter. OMERS ADMINISTRATION Corp now owns 4,852,353 shares of the company’s stock worth $128,490,000 after buying an additional 4,828,953 shares during the last quarter. FMR LLC increased its position in shares of CBRE Group by 26.5% in the second quarter. FMR LLC now owns 18,561,943 shares of the company’s stock worth $491,520,000 after buying an additional 3,884,677 shares during the last quarter. Cantillon Capital Management LLC increased its position in shares of CBRE Group by 93.8% in the second quarter. Cantillon Capital Management LLC now owns 7,374,944 shares of the company’s stock worth $195,288,000 after buying an additional 3,569,932 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of CBRE Group by 169.9% in the second quarter. Ameriprise Financial Inc. now owns 4,111,691 shares of the company’s stock worth $108,877,000 after buying an additional 2,588,495 shares during the last quarter. Finally, Fiera Capital Corp bought a new position in shares of CBRE Group during the second quarter worth about $53,449,000. 95.71% of the stock is owned by institutional investors.
In other CBRE Group news, insider Michael J. Lafitte sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $29.90, for a total value of $747,500.00. Following the completion of the transaction, the insider now directly owns 338,053 shares of the company’s stock, valued at $10,107,784.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Calvin W. Frese, Jr. sold 39,475 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $29.90, for a total value of $1,180,302.50. Following the completion of the transaction, the insider now directly owns 298,816 shares of the company’s stock, valued at $8,934,598.40. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company is a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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