CBRE Group Inc. Forecasted to Post Q3 2016 Earnings of $0.43 Per Share (CBG)
CBRE Group Inc. (NYSE:CBG) – Stock analysts at William Blair decreased their Q3 2016 earnings per share (EPS) estimates for shares of CBRE Group in a note issued to investors on Sunday. William Blair analyst B. Dobell now forecasts that the firm will post earnings per share of $0.43 for the quarter, down from their prior forecast of $0.44. William Blair also issued estimates for CBRE Group’s FY2016 earnings at $2.18 EPS and FY2017 earnings at $2.46 EPS.
Several other equities research analysts have also recently issued reports on CBG. Zacks Investment Research cut shares of CBRE Group from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Wedbush initiated coverage on shares of CBRE Group in a research report on Wednesday, October 5th. They set an “outperform” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. CBRE Group has an average rating of “Hold” and an average target price of $38.60.
CBRE Group (NYSE:CBG) opened at 27.03 on Tuesday. CBRE Group has a one year low of $22.74 and a one year high of $38.49. The firm has a 50-day moving average of $28.58 and a 200 day moving average of $28.80. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 17.12 and a beta of 1.99.
CBRE Group (NYSE:CBG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The business earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.19 billion. CBRE Group had a net margin of 4.28% and a return on equity of 26.58%. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS.
A number of large investors have recently made changes to their positions in CBG. Trust Department MB Financial Bank N A raised its position in 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 last quarter. Northwestern Mutual Wealth Management Co. raised its position in 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 last quarter. Assetmark Inc. raised its position in 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 last quarter. Mizuho Asset Management Co. Ltd. raised its position in 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 last quarter. Finally, IFP Advisors Inc raised its position in CBRE Group by 10.7% in the first quarter. IFP Advisors Inc now owns 4,935 shares of the company’s stock valued at $142,000 after buying an additional 476 shares during the last quarter. Institutional investors own 95.71% of the company’s stock.
In related news, CFO James R. Groch sold 20,000 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $30.00, for a total value of $600,000.00. Following the sale, the chief financial officer now owns 538,281 shares in the company, valued at $16,148,430. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Calvin W. Frese, Jr. sold 11,674 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $29.57, for a total transaction of $345,200.18. Following the completion of the sale, the insider now owns 344,553 shares in the company, valued at approximately $10,188,432.21. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
CBRE Group Company Profile
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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