CBRE Group (NYSE:CBRE) Updates FY24 Earnings Guidance

CBRE Group (NYSE:CBRE) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $4.70-$4.90 for the period, compared to the consensus EPS estimate of $4.47.

CBRE Group Stock Performance

Shares of CBRE Group stock opened at $98.32 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.36. CBRE Group has a 52 week low of $64.63 and a 52 week high of $100.27. The firm has a market capitalization of $30.17 billion, a P/E ratio of 30.63 and a beta of 1.40. The company has a 50 day moving average price of $89.89 and a 200 day moving average price of $89.75.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Evercore ISI increased their price target 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. Jefferies Financial Group started coverage on shares of CBRE Group in a report on Wednesday, April 10th. They set a hold rating and a $107.00 target price for the company. UBS Group lowered their price target 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. Finally, StockNews.com lowered CBRE Group from a buy rating to a hold rating in a research note on Wednesday, May 1st. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, CBRE Group presently has an average rating of Hold and a consensus price target of $101.17.

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.