CBRE Group (NYSE:CBRE) Announces Quarterly Earnings Results, Beats Estimates By $0.12 EPS

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 return on equity of 12.74% and a net margin of 2.79%. The business had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. CBRE Group’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 Trading Up 2.9 %

CBRE Group stock traded up $3.12 during trading hours on Friday, hitting $110.55. The company had a trading volume of 3,578,154 shares, compared to its average volume of 1,475,929. The company has a 50-day moving average price of $90.59 and a two-hundred day moving average price of $90.05. CBRE Group has a 1 year low of $64.63 and a 1 year high of $112.21. The firm has a market cap of $33.92 billion, a P/E ratio of 34.44 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.15 and a current ratio of 1.12.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CBRE. Raymond James upped their price target on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a report on Thursday. Jefferies Financial Group assumed coverage on shares of CBRE Group in a research report on Wednesday, April 10th. They set a “hold” rating and a $107.00 price target for the company. Evercore ISI upgraded shares of CBRE Group from an “in-line” rating to an “outperform” rating and upped their price target for the company from $100.00 to $123.00 in a research report on Friday. StockNews.com lowered shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Morgan Stanley assumed coverage on shares of CBRE Group in a research report on Thursday. They set an “equal weight” rating and a $105.00 price target for the company. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.