Q3 2024 EPS Estimates for CBRE Group, Inc. (NYSE:CBRE) Reduced by William Blair

CBRE Group, Inc. (NYSE:CBRE) – William Blair lowered their Q3 2024 earnings per share (EPS) estimates for CBRE Group in a research report issued on Thursday, July 25th. William Blair analyst S. Sheldon now anticipates that the financial services provider will post earnings of $1.07 per share for the quarter, down from their previous forecast of $1.13. The consensus estimate for CBRE Group’s current full-year earnings is $4.83 per share. William Blair also issued estimates for CBRE Group’s Q4 2024 earnings at $2.16 EPS, FY2024 earnings at $4.82 EPS, Q1 2025 earnings at $0.82 EPS, Q2 2025 earnings at $1.10 EPS, Q3 2025 earnings at $1.31 EPS, FY2025 earnings at $5.77 EPS and FY2026 earnings at $6.91 EPS.

Several other research analysts also recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on CBRE Group from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Raymond James boosted their price target on CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Evercore ISI upgraded CBRE Group from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $100.00 to $123.00 in a report on Friday, July 26th. UBS Group reduced their price target on 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 downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CBRE Group currently has an average rating of “Moderate Buy” and a consensus price target of $108.86.

CBRE Group Stock Up 1.3 %

CBRE opened at $112.00 on Monday. The company has a market cap of $34.32 billion, a P/E ratio of 34.89 and a beta of 1.40. The business’s 50-day moving average price is $91.42 and its 200-day moving average price is $90.44. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. CBRE Group has a 12 month low of $64.63 and a 12 month high of $112.24.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CAO Lindsey S. Caplan sold 2,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $109.87, for a total transaction of $219,740.00. Following the completion of the sale, the chief accounting officer now directly owns 16,606 shares in the company, valued at approximately $1,824,501.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On CBRE Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC purchased a new stake in shares of CBRE Group in the 1st quarter worth $30,000. Turtle Creek Wealth Advisors LLC purchased a new stake in CBRE Group in the 4th quarter worth $45,000. EverSource Wealth Advisors LLC increased its stake in CBRE Group by 44.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 533 shares of the financial services provider’s stock worth $52,000 after buying an additional 165 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in CBRE Group in the 4th quarter worth $59,000. Finally, Spartan Planning & Wealth Management purchased a new stake in CBRE Group in the 4th quarter worth $78,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

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.