CBRE Group (CBG) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of CBRE Group (NYSE:CBG) from a buy rating to a hold rating in a research report sent to investors on Monday morning.
According to Zacks, “Shares of CBRE Group have outperformed the industry it belongs to, in the past three months. Recently, the company announced the acquisition of a building technical engineering services provider in Italy — Geico Lender S.p.A. The move comes as part of the company’s strategic efforts to expand its facilities management expertise in the region. Notably, CBRE Group is experiencing strength in all three of its regional services businesses and solid growth in occupier outsourcing business. Going forward, its extensive real estate products and services offerings, improving leasing and outsourcing business, strategic in-fill acquisitions, transformational deals, and healthy balance sheet are expected to drive results. Yet, competition from international, regional and local players, its exposure to unfavorable foreign currency movements and uneasiness in certain global economies are concerns before CBRE.”
Other equities analysts have also recently issued reports about the stock. Bank of America boosted their target price on shares of CBRE Group from $42.00 to $44.00 and gave the company a buy rating in a research note on Monday, November 6th. Barclays reiterated a buy rating and issued a $47.00 target price on shares of CBRE Group in a research note on Wednesday, December 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $42.83.
CBRE Group (NYSE:CBG) traded down $0.23 on Monday, hitting $44.89. 1,176,948 shares of the company traded hands, compared to its average volume of 1,872,733. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.28 and a current ratio of 1.28. CBRE Group has a 1 year low of $29.69 and a 1 year high of $45.50. The firm has a market cap of $15,240.00, a PE ratio of 19.43, a P/E/G ratio of 1.23 and a beta of 1.87.
CBRE Group (NYSE:CBG) last posted its earnings results on Friday, November 3rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.10. CBRE Group had a net margin of 5.75% and a return on equity of 26.22%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the previous year, the business posted $0.50 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. analysts forecast that CBRE Group will post 2.67 earnings per share for the current fiscal year.
In other CBRE Group news, insider Calvin W. Frese, Jr. sold 11,307 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $40.00, for a total transaction of $452,280.00. Following the completion of the transaction, the insider now directly owns 246,473 shares in the company, valued at $9,858,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Calvin W. Frese, Jr. sold 25,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $40.04, for a total transaction of $1,001,000.00. Following the transaction, the insider now owns 246,473 shares of the company’s stock, valued at $9,868,778.92. The disclosure for this sale can be found here. Insiders have sold 3,024,872 shares of company stock valued at $129,080,441 over the last 90 days. 1.00% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of CBG. Janus Henderson Group PLC raised its position in CBRE Group by 13,158.3% during the second quarter. Janus Henderson Group PLC now owns 5,733,291 shares of the financial services provider’s stock worth $208,691,000 after acquiring an additional 5,690,048 shares during the period. Alliancebernstein L.P. raised its position in CBRE Group by 273.3% during the second quarter. Alliancebernstein L.P. now owns 3,275,845 shares of the financial services provider’s stock worth $119,241,000 after acquiring an additional 2,398,384 shares during the period. AJO LP raised its position in CBRE Group by 314.1% during the second quarter. AJO LP now owns 2,887,891 shares of the financial services provider’s stock worth $105,119,000 after acquiring an additional 2,190,476 shares during the period. Vanguard Group Inc. raised its position in CBRE Group by 4.6% during the second quarter. Vanguard Group Inc. now owns 29,111,569 shares of the financial services provider’s stock worth $1,059,662,000 after acquiring an additional 1,289,368 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of CBRE Group by 6.1% during the second quarter. BlackRock Inc. now owns 20,546,977 shares of the financial services provider’s stock worth $747,911,000 after buying an additional 1,175,336 shares in the last quarter. Institutional investors own 94.58% of the company’s stock.
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CBRE Group Company Profile
CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.
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