CBRE Group (NYSE:CBRE) Updates 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

CBRE stock traded up $3.12 during trading on Friday, reaching $110.55. The company’s stock had a trading volume of 3,578,154 shares, compared to its average volume of 1,676,749. 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 moving average is $90.20 and its 200-day moving average is $89.87. The company has a market capitalization of $33.92 billion, a P/E ratio of 34.10 and a beta of 1.40. CBRE Group has a 1 year low of $64.63 and a 1 year high of $112.21.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.31 billion. CBRE Group had a return on equity of 12.96% and a net margin of 3.06%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. On average, research analysts expect that CBRE Group will post 4.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CBRE. Morgan Stanley started coverage on CBRE Group in a report on Thursday. They set an equal weight rating and a $105.00 target price for the company. StockNews.com downgraded CBRE Group from a buy rating to a hold rating in a research report on Wednesday, May 1st. 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. Evercore ISI upgraded shares of CBRE Group from an in-line rating to an outperform rating and boosted their price objective for the stock from $100.00 to $123.00 in a research note on Friday. Finally, Raymond James upped their price target on CBRE Group from $122.00 to $124.00 and gave the stock a strong-buy rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $108.86.

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.