The Wedbush Comments on CBRE Group Inc.’s Q3 2016 Earnings (CBG)

The Wedbush Comments on CBRE Group Inc.’s Q3 2016 Earnings (CBG)

CBRE Group Inc. (NYSE:CBG) – Equities research analysts at Wedbush issued their Q3 2016 earnings per share (EPS) estimates for shares of CBRE Group in a research report issued on Wednesday. Wedbush analyst J. Weaver forecasts that the brokerage will post earnings of $0.43 per share for the quarter. Wedbush currently has a “Outperform” rating and a $35.00 target price on the stock. Wedbush also issued estimates for CBRE Group’s Q4 2016 earnings at $0.68 EPS, FY2016 earnings at $2.06 EPS, Q1 2017 earnings at $0.64 EPS, Q2 2017 earnings at $0.58 EPS, Q3 2017 earnings at $0.42 EPS, Q4 2017 earnings at $0.87 EPS and FY2017 earnings at $2.51 EPS.

Separately, Zacks Investment Research cut shares of CBRE Group from a “hold” rating to a “sell” rating in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $38.60.

CBRE Group (NYSE:CBG) opened at 27.27 on Monday. CBRE Group has a one year low of $22.74 and a one year high of $38.49. The firm has a market cap of $9.14 billion, a PE ratio of 17.27 and a beta of 1.99. The company’s 50-day moving average is $28.74 and its 200-day moving average is $28.83.

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CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. The firm earned $3.20 billion during the quarter, compared to analysts’ expectations of $3.19 billion. CBRE Group had a net margin of 4.28% and a return on equity of 26.58%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 earnings per share.

In related news, insider Michael J. Lafitte sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $29.90, for a total value of $747,500.00. Following the completion of the transaction, the insider now owns 338,053 shares in the company, valued at approximately $10,107,784.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO James R. Groch sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $30.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer now owns 538,281 shares of the company’s stock, valued at approximately $16,148,430. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CBG. Trust Department MB Financial Bank N A raised its position in shares of CBRE Group by 252.9% in the second quarter. Trust Department MB Financial Bank N A now owns 2,922 shares of the company’s stock worth $108,000 after buying an additional 2,094 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of CBRE Group by 9.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,343 shares of the company’s stock worth $115,000 after buying an additional 391 shares during the period. Assetmark Inc. raised its position in shares of CBRE Group by 56.1% in the second quarter. Assetmark Inc. now owns 4,515 shares of the company’s stock worth $120,000 after buying an additional 1,622 shares during the period. Mizuho Asset Management Co. Ltd. raised its position in shares of CBRE Group by 139.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,801 shares of the company’s stock worth $127,000 after buying an additional 2,800 shares during the period. Finally, Partners Capital Investment Group LLC raised its position in shares of CBRE Group by 41.0% in the second quarter. Partners Capital Investment Group LLC now owns 4,978 shares of the company’s stock worth $132,000 after buying an additional 1,447 shares during the period. Institutional investors and hedge funds own 95.71% of the company’s stock.

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