Brokerages Set CBRE Group, Inc. (CBG) Target Price at $39.40
CBRE Group, Inc. (NYSE:CBG) has received an average rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $39.60.
Several research analysts have recently weighed in on CBG shares. Zacks Investment Research downgraded CBRE Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 target price on shares of CBRE Group in a research note on Friday, July 21st. Barclays PLC upped their target price on CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. UBS AG started coverage on CBRE Group in a research note on Wednesday, July 26th. They set a “neutral” rating and a $41.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $38.00 target price on shares of CBRE Group in a research note on Wednesday, August 2nd.
In related news, CEO William F. Concannon sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $36.57, for a total transaction of $548,550.00. Following the completion of the sale, the chief executive officer now directly owns 238,376 shares in the company, valued at $8,717,410.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert E. Sulentic sold 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $35.91, for a total value of $3,231,900.00. Following the sale, the insider now owns 833,590 shares of the company’s stock, valued at $29,934,216.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,627 shares of company stock valued at $6,054,206. Corporate insiders own 1.00% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. boosted its stake in shares of CBRE Group by 5.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,095 shares of the financial services provider’s stock valued at $263,000 after buying an additional 454 shares during the last quarter. Global Thematic Partners LLC boosted its stake in shares of CBRE Group by 8.1% in the first quarter. Global Thematic Partners LLC now owns 1,306,163 shares of the financial services provider’s stock valued at $45,442,000 after buying an additional 97,368 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of CBRE Group by 4.2% in the first quarter. Nationwide Fund Advisors now owns 717,301 shares of the financial services provider’s stock valued at $24,955,000 after buying an additional 29,004 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of CBRE Group by 8.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 438,054 shares of the financial services provider’s stock valued at $15,241,000 after buying an additional 33,939 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of CBRE Group during the first quarter valued at approximately $116,000. Hedge funds and other institutional investors own 96.84% of the company’s stock.
CBRE Group (CBG) traded down 1.00% during midday trading on Friday, reaching $35.77. 1,443,607 shares of the company traded hands. CBRE Group has a 1-year low of $25.40 and a 1-year high of $38.99. The stock has a market capitalization of $12.05 billion, a P/E ratio of 17.46 and a beta of 1.83. The firm has a 50-day moving average of $37.08 and a 200-day moving average of $35.22.
CBRE Group (NYSE:CBG) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.39 billion. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. On average, analysts predict that CBRE Group will post $2.57 earnings per share for the current year.
CBRE Group Company Profile
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as 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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