CBRE Group (NYSE:CBRE) Price Target Cut to $53.00

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CBRE Group (NYSE:CBRE) had its price objective trimmed by Raymond James from $57.00 to $53.00 in a report published on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of CBRE Group from $52.00 to $51.00 and set a market perform rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. cut shares of CBRE Group from an overweight rating to a neutral rating in a research note on Sunday, April 19th. UBS Group lowered their price objective on shares of CBRE Group from $59.00 to $41.00 and set a neutral rating on the stock in a research note on Wednesday, May 13th. Cfra cut shares of CBRE Group from a hold rating to a sell rating and decreased their price target for the stock from $57.00 to $35.00 in a research note on Friday, May 8th. Finally, TheStreet cut shares of CBRE Group from a b- rating to a c+ rating in a research note on Friday, April 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. CBRE Group currently has an average rating of Hold and a consensus price target of $48.29.

Shares of NYSE CBRE opened at $43.81 on Wednesday. The stock has a market cap of $14.68 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.64 and a beta of 1.73. CBRE Group has a 52 week low of $29.17 and a 52 week high of $64.75. The company’s 50-day moving average price is $44.87 and its 200 day moving average price is $48.08. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.28.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Friday, July 31st. The financial services provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). The business had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.01 billion. CBRE Group had a net margin of 5.23% and a return on equity of 21.37%. CBRE Group’s revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. As a group, research analysts expect that CBRE Group will post 2.42 earnings per share for the current year.

In related news, Director Shira Goodman acquired 2,600 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $38.73 per share, for a total transaction of $100,698.00. Following the acquisition, the director now directly owns 4,228 shares in the company, valued at approximately $163,750.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO J. Christopher Kirk sold 19,500 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $53.51, for a total transaction of $1,043,445.00. Following the transaction, the chief operating officer now owns 145,327 shares in the company, valued at $7,776,447.77. The disclosure for this sale can be found here. Insiders have sold a total of 162,212 shares of company stock worth $7,109,705 over the last ninety days. 0.80% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CBRE. Norges Bank purchased a new position in shares of CBRE Group during the 4th quarter worth about $219,422,000. State of Michigan Retirement System raised its holdings in CBRE Group by 1,065.7% in the second quarter. State of Michigan Retirement System now owns 894,457 shares of the financial services provider’s stock valued at $40,447,000 after buying an additional 817,725 shares during the period. Swedbank raised its holdings in CBRE Group by 31.9% in the first quarter. Swedbank now owns 3,152,002 shares of the financial services provider’s stock valued at $118,862,000 after buying an additional 762,310 shares during the period. PGGM Investments purchased a new position in CBRE Group in the first quarter valued at approximately $21,157,000. Finally, New York State Common Retirement Fund raised its holdings in CBRE Group by 69.5% in the first quarter. New York State Common Retirement Fund now owns 1,233,915 shares of the financial services provider’s stock valued at $46,531,000 after buying an additional 505,883 shares during the period. Institutional investors and hedge funds own 92.96% 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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Analyst Recommendations for CBRE Group (NYSE:CBRE)

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