CBRE Group FY2024 EPS Estimate Increased by William Blair

CBRE Group, Inc. (NYSE:CBRE) – Research analysts at William Blair boosted their FY2024 earnings estimates for CBRE Group in a note issued to investors on Thursday, October 24th. William Blair analyst S. Sheldon now forecasts that the financial services provider will post earnings of $5.01 per share for the year, up from their prior estimate of $4.82. The consensus estimate for CBRE Group’s current full-year earnings is $4.81 per share. William Blair also issued estimates for CBRE Group’s Q4 2024 earnings at $2.22 EPS, Q3 2025 earnings at $1.36 EPS, Q4 2025 earnings at $2.62 EPS, FY2025 earnings at $5.90 EPS and FY2026 earnings at $7.01 EPS.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share.

Several other research firms also recently issued reports on CBRE. Raymond James upped their price objective on shares of 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 upped their price objective on shares of CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Keefe, Bruyette & Woods upped their price objective on shares of CBRE Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Morgan Stanley initiated coverage on shares of CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.83.

CBRE Group Stock Performance

Shares of CBRE Group stock opened at $131.59 on Monday. CBRE Group has a one year low of $66.12 and a one year high of $136.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $40.37 billion, a PE ratio of 40.99 and a beta of 1.40. The company has a 50-day simple moving average of $120.23 and a two-hundred day simple moving average of $102.65.

Insider Activity at CBRE Group

In related news, CFO Emma E. Giamartino sold 3,311 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $360,534.79. Following the sale, the chief financial officer now owns 71,969 shares in the company, valued at $7,836,704.41. 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 available at this hyperlink. In other CBRE Group news, CFO Emma E. Giamartino sold 3,311 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $108.89, for a total value of $360,534.79. Following the sale, the chief financial officer now owns 71,969 shares in the company, valued at approximately $7,836,704.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Daniel G. Queenan sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 217,094 shares in the company, valued at approximately $24,894,168.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,232 shares of company stock worth $2,839,047 over the last quarter. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On CBRE Group

Several hedge funds have recently bought and sold shares of the stock. Stephens Inc. AR boosted its position in CBRE Group by 3.1% in the 3rd quarter. Stephens Inc. AR now owns 2,640 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 80 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of CBRE Group by 8.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,729 shares of the financial services provider’s stock valued at $1,335,000 after buying an additional 847 shares in the last quarter. Fidelis Capital Partners LLC lifted its position in shares of CBRE Group by 2.1% during the 3rd quarter. Fidelis Capital Partners LLC now owns 3,994 shares of the financial services provider’s stock valued at $492,000 after buying an additional 82 shares in the last quarter. Integrated Advisors Network LLC purchased a new position in shares of CBRE Group during the 3rd quarter valued at approximately $258,000. Finally, abrdn plc lifted its position in shares of CBRE Group by 1.1% during the 3rd quarter. abrdn plc now owns 1,312,667 shares of the financial services provider’s stock valued at $162,344,000 after buying an additional 14,132 shares in the last quarter. Hedge funds and other institutional investors own 98.41% 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.