CBRE Group (NYSE:CBRE) Releases FY 2024 Earnings Guidance

CBRE Group (NYSE:CBRE) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 4.700-4.900 for the period, compared to the consensus estimate of 4.430. The company issued revenue guidance of -. CBRE Group also updated its FY24 guidance to $4.70-$4.90 EPS.

CBRE Group Price Performance

Shares of CBRE traded up $9.06 during midday trading on Thursday, hitting $107.36. The company’s stock had a trading volume of 4,433,613 shares, compared to its average volume of 1,663,046. The stock has a market capitalization of $32.94 billion, a price-to-earnings ratio of 33.45 and a beta of 1.40. CBRE Group has a one year low of $64.63 and a one year high of $110.55. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $90.20 and its two-hundred day simple moving average is $89.87.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Friday, May 3rd. The financial services provider reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. The business had revenue of $7.94 billion for the quarter, compared to analyst estimates of $7.94 billion. CBRE Group had a return on equity of 12.96% and a net margin of 3.06%. CBRE Group’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS. As a group, equities analysts expect that CBRE Group will post 4.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CBRE shares. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $100.00 to $110.00 and gave the stock a market perform rating in a research report on Thursday. Jefferies Financial Group assumed coverage on CBRE Group in a research report on Wednesday, April 10th. They issued a hold rating and a $107.00 price target on the stock. Evercore ISI upped their price target on CBRE Group from $103.00 to $104.00 and gave the company an in-line rating in a research report on Tuesday, April 2nd. Raymond James upped their price target on CBRE Group from $122.00 to $124.00 and gave the company a strong-buy rating in a research report on Thursday. Finally, StockNews.com lowered CBRE Group from a buy rating to a hold rating in a research report on Wednesday, May 1st. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $106.14.

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.