CBRE Group (NYSE:CBRE) Given New $164.00 Price Target at Evercore ISI

Key Points

• Evercore ISI has raised its price target for CBRE Group from $147.00 to $164.00, indicating a potential upside of 4.10% from the company's last close and maintaining an "outperform" rating.
• The consensus rating for CBRE Group among analysts is "Moderate Buy", with an average price target of $158.00, reflecting a mix of buy and hold ratings from various financial analysts.
• CBRE Group reported $1.19 earnings per share for the last quarter, exceeding analyst expectations and generating revenue of $9.75 billion, higher than the estimated $9.50 billion.

CBRE Group (NYSE:CBRE - Free Report) had its price target hoisted by Evercore ISI from $147.00 to $164.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the financial services provider's stock.

A number of other research firms have also recently weighed in on CBRE. Morgan Stanley reaffirmed an "overweight" rating and issued a $170.00 price objective (up previously from $160.00) on shares of CBRE Group in a report on Thursday, June 12th. UBS Group boosted their target price on shares of CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their target price on shares of CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. cut their target price on shares of CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Raymond James Financial boosted their target price on shares of CBRE Group from $163.00 to $166.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $158.00.

CBRE Group Stock Performance

CBRE traded down $1.85 on Wednesday, reaching $153.89. The stock had a trading volume of 1,831,747 shares, compared to its average volume of 1,568,696. CBRE Group has a 12-month low of $105.17 and a 12-month high of $161.03. The company has a current ratio of 1.13, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The business's 50-day moving average price is $137.49 and its two-hundred day moving average price is $133.22. The company has a market cap of $45.79 billion, a P/E ratio of 43.11 and a beta of 1.30.

CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.14. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. The company had revenue of $9.75 billion during the quarter, compared to analysts' expectations of $9.50 billion. Sell-side analysts forecast that CBRE Group will post 5.99 earnings per share for the current year.

Insider Activity

In other CBRE Group news, CAO Lindsey S. Caplan sold 1,935 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $140.00, for a total value of $270,900.00. Following the transaction, the chief accounting officer directly owned 20,131 shares in the company, valued at $2,818,340. The trade was a 8.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Emma E. Giamartino sold 1,972 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $129.10, for a total transaction of $254,585.20. Following the completion of the transaction, the chief financial officer owned 105,371 shares in the company, valued at $13,603,396.10. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,031 shares of company stock worth $1,139,304 over the last quarter. 0.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CBRE Group

A number of hedge funds have recently added to or reduced their stakes in CBRE. Moody National Bank Trust Division boosted its position in CBRE Group by 4.2% in the 2nd quarter. Moody National Bank Trust Division now owns 1,895 shares of the financial services provider's stock valued at $266,000 after buying an additional 76 shares during the period. Valeo Financial Advisors LLC boosted its position in CBRE Group by 4.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 2,217 shares of the financial services provider's stock valued at $290,000 after buying an additional 85 shares during the period. NorthRock Partners LLC boosted its position in CBRE Group by 1.8% in the 2nd quarter. NorthRock Partners LLC now owns 4,961 shares of the financial services provider's stock valued at $695,000 after buying an additional 90 shares during the period. Beverly Hills Private Wealth LLC boosted its position in CBRE Group by 1.9% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 5,067 shares of the financial services provider's stock valued at $663,000 after buying an additional 93 shares during the period. Finally, Verdence Capital Advisors LLC boosted its position in CBRE Group by 1.3% in the 1st quarter. Verdence Capital Advisors LLC now owns 8,133 shares of the financial services provider's stock valued at $1,064,000 after buying an additional 102 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

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.