CBRE Group, Inc. (CBG) Given Average Rating of “Hold” by Analysts
Shares of CBRE Group, Inc. (NYSE:CBG) have been given a consensus rating of “Hold” by the six analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $39.60.
Several research firms have recently commented on CBG. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price target on shares of CBRE Group in a report on Friday, July 21st. Zacks Investment Research upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday, July 7th. Barclays PLC upped their price objective on shares of CBRE Group from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. BidaskClub cut shares of CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, UBS AG initiated coverage on shares of CBRE Group in a report on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 price objective for the company.
In other news, insider Michael J. Lafitte sold 15,000 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $37.02, for a total transaction of $555,300.00. Following the completion of the transaction, the insider now owns 369,774 shares of the company’s stock, valued at $13,689,033.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William F. Concannon sold 20,000 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $38.09, for a total transaction of $761,800.00. Following the transaction, the chief executive officer now directly owns 233,896 shares of the company’s stock, valued at approximately $8,909,098.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 217,648 shares of company stock valued at $7,912,743. Company insiders own 1.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CBG. State of Alaska Department of Revenue acquired a new position in shares of CBRE Group during the first quarter valued at about $116,000. Harbour Capital Advisors LLC acquired a new position in shares of CBRE Group during the first quarter valued at about $118,000. GQG Partners LLC acquired a new position in shares of CBRE Group during the second quarter valued at about $122,000. BB&T Investment Services Inc. acquired a new position in shares of CBRE Group during the second quarter valued at about $125,000. Finally, Advisor Group Inc. raised its position in shares of CBRE Group by 6.6% during the second quarter. Advisor Group Inc. now owns 5,480 shares of the financial services provider’s stock valued at $198,000 after buying an additional 337 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.
Shares of CBRE Group (NYSE CBG) traded up 0.67% on Tuesday, reaching $36.24. The company had a trading volume of 1,479,466 shares. The company has a 50 day moving average price of $36.51 and a 200 day moving average price of $35.56. The stock has a market capitalization of $12.21 billion, a PE ratio of 17.69 and a beta of 1.83. CBRE Group has a 52-week low of $25.40 and a 52-week high of $38.99.
CBRE Group (NYSE:CBG) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.53 by $0.12. CBRE Group had a net margin of 5.21% and a return on equity of 26.40%. The business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the company posted $0.52 EPS. CBRE Group’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts anticipate 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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