CBRE Group (NYSE:CBRE) Posts Earnings Results, Beats Expectations By $0.12 EPS

CBRE Group (NYSE:CBRE) issued its quarterly earnings data on Thursday. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12, Briefing.com reports. The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.31 billion. CBRE Group had a net margin of 3.06% and a return on equity of 12.96%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. CBRE Group updated its FY24 guidance to $4.70-$4.90 EPS and its FY 2024 guidance to 4.700-4.900 EPS.

CBRE Group Price Performance

CBRE stock traded up $3.12 during midday trading on Friday, reaching $110.55. The stock had a trading volume of 3,578,154 shares, compared to its average volume of 1,676,749. The company’s fifty day simple moving average is $90.59 and its 200 day simple moving average is $90.03. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. The company has a market cap of $33.92 billion, a price-to-earnings ratio of 34.44 and a beta of 1.40. CBRE Group has a 52-week low of $64.63 and a 52-week high of $112.21.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of CBRE Group in a research note on Wednesday, April 10th. They set a “hold” rating and a $107.00 price objective on the stock. Evercore ISI upgraded CBRE Group from an “in-line” rating to an “outperform” rating and increased their target price for the company from $100.00 to $123.00 in a research report on Friday. StockNews.com lowered CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods increased their target price on CBRE Group from $100.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, UBS Group decreased their target price on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.86.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.