CBRE Group (NYSE:CBRE) Shares Break Below 50-Day Moving Average - What's Next?

Key Points

• CBRE shares fell below their 50-day moving average, trading as low as $132.39 and last at $132.49, compared with the average of $134.18.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $182.78, though some firms recently lowered their targets while Barclays raised its target to $183.
• In its latest quarter, CBRE earned $2.05 per share, topping estimates of $1.96, while revenue of $11.52 billion fell short of forecasts; revenue was up 12.7% year over year.

Shares of CBRE Group, Inc. (NYSE:CBRE - Get Free Report) crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $134.18 and traded as low as $132.39. CBRE Group shares last traded at $132.4920, with a volume of 1,558,121 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CBRE shares. Barclays lifted their price objective on shares of CBRE Group from $180.00 to $183.00 and gave the stock an "overweight" rating in a research note on Monday, August 17th. Weiss Ratings restated a "hold (c+)" rating on shares of CBRE Group in a research report on Friday, August 21st. Jefferies Financial Group lowered their price target on shares of CBRE Group from $180.00 to $164.00 in a report on Monday, October 12th. Keefe, Bruyette & Woods lowered their price target on shares of CBRE Group from $174.00 to $164.00 and set an "outperform" rating for the company in a report on Friday, October 9th. Finally, Wall Street Zen lowered CBRE Group from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $182.78.

CBRE Group Stock Performance

The company has a market capitalization of $38.18 billion, a P/E ratio of 28.37 and a beta of 1.24. The business has a 50-day moving average of $134.18 and a 200-day moving average of $140.48. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 1.17.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.96 by $0.09. CBRE Group had a net margin of 3.08% and a return on equity of 26.31%. The company had revenue of $11.52 billion during the quarter, compared to analyst estimates of $11.81 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. CBRE Group's quarterly revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts anticipate that CBRE Group, Inc. will post 7.76 EPS for the current year.

Hedge Funds Weigh In On CBRE Group

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in CBRE Group by 20.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,071,885 shares of the financial services provider's stock worth $400,973,000 after purchasing an additional 512,536 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CBRE Group by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,896,802 shares of the financial services provider's stock valued at $392,368,000 after buying an additional 159,482 shares during the period. Sei Investments Co. boosted its position in shares of CBRE Group by 8.7% during the first quarter. Sei Investments Co. now owns 2,181,413 shares of the financial services provider's stock valued at $295,494,000 after buying an additional 175,344 shares during the period. Amundi grew its stake in shares of CBRE Group by 12.1% during the first quarter. Amundi now owns 1,906,456 shares of the financial services provider's stock valued at $258,249,000 after buying an additional 205,493 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of CBRE Group by 52.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,930,992 shares of the financial services provider's stock valued at $248,075,000 after buying an additional 662,421 shares during the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Company Profile

CBRE Group, Inc. is a commercial real estate services and investment company serving property owners, occupiers, investors and developers. Its services include property leasing and sales, property and facilities management, project management, valuation, consulting and commercial real estate financing. The company also provides real estate investment management and development services. Through its global operations, CBRE serves clients across a range of property types and markets, including offices, industrial facilities, retail properties and data centers.

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