Wedbush Comments on CBRE Group Inc.’s Q3 2016 Earnings (CBG)
CBRE Group Inc. (NYSE:CBG) – Analysts at Wedbush issued their Q3 2016 earnings per share estimates for CBRE Group in a research report issued on Wednesday. Wedbush analyst J. Weaver expects that the firm will earn $0.43 per share for the quarter. Wedbush has a “Outperform” rating and a $35.00 price objective on the stock. Wedbush also issued estimates for CBRE Group’s Q4 2016 earnings at $0.68 EPS, FY2016 earnings at $2.06 EPS, Q1 2017 earnings at $0.64 EPS, Q2 2017 earnings at $0.58 EPS, Q3 2017 earnings at $0.42 EPS, Q4 2017 earnings at $0.87 EPS and FY2017 earnings at $2.51 EPS.
CBRE Group (NYSE:CBG) last released its earnings results on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. CBRE Group had a return on equity of 26.58% and a net margin of 4.28%. The firm earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue was up 34.2% on a year-over-year basis.
Separately, Zacks Investment Research upgraded CBRE Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $38.60.
Shares of CBRE Group (NYSE:CBG) opened at 27.27 on Monday. The company’s 50 day moving average price is $28.74 and its 200 day moving average price is $28.83. The stock has a market cap of $9.14 billion, a PE ratio of 17.27 and a beta of 1.99. CBRE Group has a 52-week low of $22.74 and a 52-week high of $38.49.
Several institutional investors have recently modified their holdings of the stock. Trust Department MB Financial Bank N A boosted its position in shares of CBRE Group by 252.9% in the second quarter. Trust Department MB Financial Bank N A now owns 2,922 shares of the company’s stock valued at $108,000 after buying an additional 2,094 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of CBRE Group by 9.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,343 shares of the company’s stock valued at $115,000 after buying an additional 391 shares during the period. Assetmark Inc. boosted its position in shares of CBRE Group by 56.1% in the second quarter. Assetmark Inc. now owns 4,515 shares of the company’s stock valued at $120,000 after buying an additional 1,622 shares during the period. Mizuho Asset Management Co. Ltd. boosted its position in shares of CBRE Group by 139.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,801 shares of the company’s stock valued at $127,000 after buying an additional 2,800 shares during the period. Finally, Partners Capital Investment Group LLC boosted its position in shares of CBRE Group by 41.0% in the second quarter. Partners Capital Investment Group LLC now owns 4,978 shares of the company’s stock valued at $132,000 after buying an additional 1,447 shares during the period. 95.71% of the stock is owned by institutional investors and hedge funds.
In related news, insider Valueact Capital Master Fund, acquired 1,502,200 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was acquired at an average price of $28.31 per share, with a total value of $42,527,282.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO James R. Groch sold 20,000 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $30.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer now directly owns 538,281 shares of the company’s stock, valued at approximately $16,148,430. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
About CBRE Group
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company is a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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