CBRE Group (CBRE) Sets New 52-Week High at $48.96

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Shares of CBRE Group Inc (NYSE:CBRE) reached a new 52-week high on Wednesday . The stock traded as high as $48.96 and last traded at $48.97, with a volume of 60005 shares trading hands. The stock had previously closed at $48.67.

Several analysts recently issued reports on CBRE shares. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday. ValuEngine downgraded shares of CBRE Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Raymond James raised shares of CBRE Group from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, May 10th. Barclays reissued a “buy” rating and issued a $58.00 price target (up previously from $56.00) on shares of CBRE Group in a research report on Sunday, May 13th. Finally, Goldman Sachs Group started coverage on shares of CBRE Group in a research report on Tuesday, April 3rd. They issued a “buy” rating and a $54.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. CBRE Group presently has an average rating of “Buy” and a consensus target price of $49.25.

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $16.56 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 1.20 and a beta of 1.72.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.05. The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $3.32 billion. CBRE Group had a net margin of 4.48% and a return on equity of 24.15%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS. analysts predict that CBRE Group Inc will post 3.12 EPS for the current year.

In other news, insider Michael J. Lafitte sold 16,775 shares of CBRE Group stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $47.23, for a total transaction of $792,283.25. Following the sale, the insider now directly owns 339,780 shares in the company, valued at approximately $16,047,809.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert E. Sulentic sold 5,000 shares of CBRE Group stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $46.84, for a total value of $234,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,222 shares of company stock worth $1,371,056 over the last quarter. Company insiders own 0.88% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in CBRE Group in the 1st quarter valued at about $979,545,000. ValueAct Holdings L.P. bought a new stake in CBRE Group in the 1st quarter valued at about $940,477,000. JPMorgan Chase & Co. bought a new stake in CBRE Group in the 1st quarter valued at about $631,852,000. Principal Financial Group Inc. bought a new stake in CBRE Group in the 1st quarter valued at about $460,482,000. Finally, Cantillon Capital Management LLC bought a new stake in CBRE Group in the 1st quarter valued at about $326,924,000. Institutional investors own 92.97% of the company’s stock.

CBRE Group Company Profile

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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