CBRE Group (NYSE:CBRE) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS
CBRE Group (NYSE:CBRE) released its earnings results on Friday. The financial services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02), MarketWatch Earnings reports. The company had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.01 billion. CBRE Group had a return on equity of 21.37% and a net margin of 5.23%. CBRE Group’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 EPS.
Shares of CBRE stock opened at $43.81 on Friday. CBRE Group has a 12-month low of $29.17 and a 12-month high of $64.75. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $14.68 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 1.62 and a beta of 1.73. The business has a 50 day simple moving average of $44.87 and a 200 day simple moving average of $48.08.
In other CBRE Group news, insider Michael J. Lafitte sold 39,196 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $51.73, for a total transaction of $2,027,609.08. Following the transaction, the insider now owns 325,957 shares of the company’s stock, valued at approximately $16,861,755.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Raymond E. Wirta sold 87,516 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $36.01, for a total transaction of $3,151,451.16. Following the sale, the director now owns 7,017 shares in the company, valued at $252,682.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,212 shares of company stock worth $7,109,705. 0.80% of the stock is owned by insiders.
About CBRE Group
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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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