CBRE Group (NYSE:CBRE) Issues FY 2024 Earnings Guidance

CBRE Group (NYSE:CBRE) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 4.700-4.900 for the period, compared to the consensus EPS estimate of 4.430. The company issued revenue guidance of -. CBRE Group also updated its FY24 guidance to $4.70-$4.90 EPS.

CBRE Group Trading Up 2.9 %

NYSE CBRE opened at $110.55 on Friday. CBRE Group has a one year low of $64.63 and a one year high of $112.21. The company has a 50-day simple moving average of $90.59 and a 200-day simple moving average of $90.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.15 and a current ratio of 1.12. The firm has a market capitalization of $33.92 billion, a PE ratio of 34.44 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same period in the previous year, the business posted $0.82 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that CBRE Group will post 4.83 earnings per share for the current year.

Wall Street Analyst Weigh In

CBRE has been the topic of several recent research reports. UBS Group cut their price objective on shares of CBRE Group from $100.00 to $95.00 and set a neutral rating on the stock in a research report on Wednesday, July 3rd. Morgan Stanley started coverage on shares of CBRE Group in a research report on Thursday. They issued an equal weight rating and a $105.00 price objective on the stock. Evercore ISI upgraded shares of CBRE Group from an in-line rating to an outperform rating and boosted their price target for the stock from $100.00 to $123.00 in a research report on Friday. Keefe, Bruyette & Woods boosted their price target on shares of CBRE Group from $100.00 to $110.00 and gave the stock a market perform rating in a research report on Thursday. Finally, Raymond James boosted their price target on shares of CBRE Group from $122.00 to $124.00 and gave the stock a strong-buy rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CBRE Group currently has a consensus rating of Moderate Buy and an average target price 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.