William Blair Weighs in on CBRE Group Inc.’s Q4 2016 Earnings (CBG)
CBRE Group Inc. (NYSE:CBG) – Research analysts at William Blair lowered their Q4 2016 earnings estimates for shares of CBRE Group in a report released on Sunday. William Blair analyst B. Dobell now anticipates that the firm will post earnings of $0.86 per share for the quarter, down from their prior estimate of $0.87.
CBRE Group (NYSE:CBG) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. CBRE Group had a net margin of 4.28% and a return on equity of 26.58%. The company earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The business’s quarterly revenue was up 34.2% compared to the same quarter last year.
Several other equities research analysts have also recently commented on CBG. Wedbush assumed coverage on shares of CBRE Group in a research report on Wednesday, October 5th. They issued an “outperform” rating and a $35.00 price objective on the stock. Zacks Investment Research raised shares of CBRE Group from a “sell” rating to a “hold” rating in a research report on Thursday, September 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.60.
Shares of CBRE Group (NYSE:CBG) opened at 26.60 on Wednesday. CBRE Group has a 12-month low of $22.74 and a 12-month high of $38.49. The company has a market capitalization of $8.91 billion, a PE ratio of 16.85 and a beta of 1.99. The firm’s 50-day moving average is $28.50 and its 200-day moving average is $28.78.
In other CBRE Group news, Director Holdings L.P. Valueact purchased 288,000 shares of the stock in a transaction on Monday, August 1st. The shares were purchased at an average cost of $28.43 per share, for a total transaction of $8,187,840.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Calvin W. Frese, Jr. sold 11,674 shares of CBRE Group stock in a transaction on Tuesday, August 16th. The shares were 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 $10,188,432.21. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Gulf International Bank UK Ltd raised its stake in shares of CBRE Group by 0.5% in the third quarter. Gulf International Bank UK Ltd now owns 88,947 shares of the company’s stock valued at $2,488,000 after buying an additional 400 shares during the last quarter. AT Bancorp purchased a new position in CBRE Group during the third quarter valued at $1,174,000. Nisa Investment Advisors LLC raised its position in CBRE Group by 114.7% in the third quarter. Nisa Investment Advisors LLC now owns 84,505 shares of the company’s stock valued at $2,365,000 after buying an additional 45,140 shares in the last quarter. Capstone Asset Management Co. raised its position in CBRE Group by 0.9% in the third quarter. Capstone Asset Management Co. now owns 32,310 shares of the company’s stock valued at $904,000 after buying an additional 300 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its position in CBRE Group by 1.0% in the third quarter. Exxonmobil Investment Management Inc. TX now owns 76,269 shares of the company’s stock valued at $2,134,000 after buying an additional 729 shares in the last quarter. Hedge funds and other institutional investors own 95.71% of the company’s stock.
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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