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

CBRE Group (NYSE:CBRE - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 4.250-4.650 for the period, compared to the consensus estimate of 4.380. The company issued revenue guidance of -. CBRE Group also updated its FY24 guidance to $4.25-4.65 EPS.

CBRE Group Trading Down 0.2 %

Shares of NYSE CBRE traded down $0.18 during trading on Friday, reaching $86.61. The company had a trading volume of 2,229,266 shares, compared to its average volume of 1,648,302. The stock has a market cap of $26.58 billion, a P/E ratio of 27.32 and a beta of 1.44. The company's fifty day moving average price is $91.77 and its 200-day moving average price is $85.70. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.31. CBRE Group has a 12 month low of $64.63 and a 12 month high of $98.65.

CBRE Group (NYSE:CBRE - Get Free Report) last released its earnings results on Friday, May 3rd. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.09. The business had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.94 billion. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. As a group, research analysts expect that CBRE Group will post 4.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CBRE shares. StockNews.com downgraded CBRE Group from a buy rating to a hold rating in a report on Wednesday. TheStreet upgraded shares of CBRE Group from a c+ rating to a b- rating in a research report on Thursday, January 25th. Jefferies Financial Group started coverage on shares of CBRE Group in a research note on Wednesday, April 10th. They issued a hold rating and a $107.00 price target for the company. Keefe, Bruyette & Woods upped their price target on CBRE Group from $96.00 to $100.00 and gave the stock a market perform rating in a research note on Friday, February 16th. Finally, Raymond James boosted their price objective on CBRE Group from $95.00 to $103.00 and gave the company a strong-buy rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $99.50.

Insider Buying and Selling

In other CBRE Group news, CEO Chandra Dhandapani sold 11,925 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $94.03, for a total value of $1,121,307.75. Following the completion of the sale, the chief executive officer now owns 127,064 shares in the company, valued at approximately $11,947,827.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Chandra Dhandapani sold 11,925 shares of CBRE Group stock in a transaction on Friday, February 16th. The stock was sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the sale, the chief executive officer now directly owns 127,064 shares in the company, valued at approximately $11,947,827.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John E. Durburg sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the transaction, the chief executive officer now directly owns 207,856 shares of the company's stock, valued at $19,164,323.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,592 shares of company stock worth $3,675,752. 0.54% of the stock is owned by corporate insiders.

CBRE Group Company Profile

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.

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