CBRE Group, Inc. (NYSE:CBRE) Forecasted to Post FY2024 Earnings of $4.47 Per Share

CBRE Group, Inc. (NYSE:CBRE) – Zacks Research lifted their FY2024 earnings estimates for CBRE Group in a research report issued on Thursday, July 18th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings of $4.47 per share for the year, up from their previous forecast of $4.46. The consensus estimate for CBRE Group’s current full-year earnings is $4.48 per share. Zacks Research also issued estimates for CBRE Group’s Q4 2024 earnings at $1.84 EPS, Q3 2025 earnings at $1.14 EPS and Q4 2025 earnings at $1.98 EPS.

A number of other research analysts also recently commented on the stock. Jefferies Financial Group assumed coverage on shares of CBRE Group in a research note on Wednesday, April 10th. They set a “hold” rating and a $107.00 price objective on the stock. Evercore ISI increased their target price on shares of CBRE Group from $103.00 to $104.00 and gave the stock an “in-line” rating in a report on Tuesday, April 2nd. StockNews.com cut shares of CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, UBS Group dropped their price objective on shares of CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.17.

CBRE Group Price Performance

Shares of CBRE stock opened at $99.16 on Monday. The company has a market capitalization of $30.42 billion, a PE ratio of 30.89 and a beta of 1.40. The firm has a fifty day simple moving average of $89.77 and a 200-day simple moving average of $89.69. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. CBRE Group has a twelve month low of $64.63 and a twelve month high of $100.27.

CBRE Group (NYSE:CBRE) last announced its earnings results on Friday, May 3rd. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.09. The business had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.94 billion. CBRE Group had a net margin of 3.06% and a return on equity of 12.96%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share.

Hedge Funds Weigh In On CBRE Group

Several large investors have recently bought and sold shares of the stock. Harris Associates L P increased its stake in CBRE Group by 4.5% during the 4th quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock valued at $1,489,919,000 after buying an additional 683,225 shares during the period. Principal Financial Group Inc. boosted its position in shares of CBRE Group by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 6,936,745 shares of the financial services provider’s stock valued at $674,529,000 after purchasing an additional 69,164 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of CBRE Group by 2.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,033,928 shares of the financial services provider’s stock valued at $586,739,000 after purchasing an additional 165,094 shares in the last quarter. Cantillon Capital Management LLC boosted its position in shares of CBRE Group by 13.1% during the 4th quarter. Cantillon Capital Management LLC now owns 5,215,510 shares of the financial services provider’s stock valued at $485,512,000 after purchasing an additional 603,771 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of CBRE Group by 164.1% during the 4th quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after purchasing an additional 2,799,097 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

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.