CBRE Group (NYSE:CBRE) Issues Earnings Results

CBRE Group (NYSE:CBRE) posted its quarterly earnings data on Thursday. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12, Briefing.com reports. CBRE Group had a net margin of 3.06% and a return on equity of 12.96%. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same quarter last year, the business posted $0.82 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. CBRE Group updated its FY24 guidance to $4.70-$4.90 EPS and its FY 2024 guidance to 4.700-4.900 EPS.

CBRE Group Stock Performance

CBRE traded up $3.12 during trading hours on Friday, hitting $110.55. The stock had a trading volume of 3,578,154 shares, compared to its average volume of 1,676,749. CBRE Group has a 1 year low of $64.63 and a 1 year high of $112.21. The company’s fifty day simple moving average is $90.59 and its 200 day simple moving average is $90.03. The stock has a market cap of $33.92 billion, a PE ratio of 34.44 and a beta of 1.40. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.36.

Analyst Ratings Changes

Several research firms have recently issued reports on CBRE. StockNews.com lowered CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Morgan Stanley started coverage on CBRE Group in a research note on Thursday. They issued an “equal weight” rating and a $105.00 price objective for the company. Evercore ISI upgraded CBRE Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $100.00 to $123.00 in a research note on Friday. Jefferies Financial Group initiated coverage on shares of CBRE Group in a report on Wednesday, April 10th. They issued a “hold” rating and a $107.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on shares of CBRE Group from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, CBRE Group presently has an average rating of “Moderate Buy” and an average target price of $108.86.

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.