CBRE Group (NYSE:CBRE – Get Free Report) will release its earnings data before the market opens on Thursday, October 24th. Analysts expect CBRE Group to post earnings of $1.06 per share for the quarter. CBRE Group has set its FY24 guidance at $4.70-$4.90 EPS and its FY 2024 guidance at 4.700-4.900 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.
CBRE Group (NYSE:CBRE – Get Free Report) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. CBRE Group’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 EPS. On average, analysts expect CBRE Group to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.
CBRE Group Stock Performance
Shares of NYSE CBRE opened at $122.73 on Wednesday. The firm’s 50-day moving average price is $118.72 and its 200-day moving average price is $101.62. CBRE Group has a 52-week low of $64.63 and a 52-week high of $126.00. The company has a market cap of $37.66 billion, a PE ratio of 38.23 and a beta of 1.40. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36.
Insider Activity
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised 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. UBS Group cut their price objective on CBRE Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Raymond James increased their target price on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Evercore ISI boosted their price target 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, Morgan Stanley began coverage on shares of CBRE Group in a research note on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 price objective on the stock. Five investment 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.83.
Read Our Latest Report on CBRE
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.
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