CBRE Group (NYSE:CBRE) Given New $110.00 Price Target at Keefe, Bruyette & Woods

CBRE Group (NYSE:CBRE) had its price target lifted by Keefe, Bruyette & Woods from $100.00 to $110.00 in a report released on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. UBS Group dropped their price objective on CBRE Group from $100.00 to $95.00 and set a neutral rating on the stock in a research note on Wednesday, July 3rd. Jefferies Financial Group began coverage on CBRE Group in a research note on Wednesday, April 10th. They issued a hold rating and a $107.00 price target on the stock. Evercore ISI raised their price objective on shares of CBRE Group from $103.00 to $104.00 and gave the stock an in-line rating in a research report on Tuesday, April 2nd. Finally, StockNews.com downgraded shares of CBRE Group from a buy rating to a hold rating in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $108.86.

CBRE Group Stock Performance

NYSE:CBRE opened at $110.55 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.15 and a current ratio of 1.12. CBRE Group has a fifty-two week low of $64.63 and a fifty-two week high of $112.21. The company has a 50 day simple moving average of $90.59 and a two-hundred day simple moving average of $90.07. The company has a market capitalization of $33.92 billion, a PE ratio of 34.44 and a beta of 1.40.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.31 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. CBRE Group’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 earnings per share. Research analysts anticipate that CBRE Group will post 4.83 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of CBRE Group in the 4th quarter worth about $381,164,000. Wellington Management Group LLP raised its stake in shares of CBRE Group by 164.1% in the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock worth $419,387,000 after purchasing an additional 2,799,097 shares during the last quarter. Swedbank AB bought a new position in shares of CBRE Group in the first quarter valued at approximately $162,576,000. Parnassus Investments LLC purchased a new position in shares of CBRE Group during the fourth quarter valued at approximately $104,277,000. Finally, Harris Associates L P grew its holdings in CBRE Group by 4.5% during the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock worth $1,489,919,000 after buying an additional 683,225 shares in the last quarter. 98.41% of the stock is owned by institutional investors.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; 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.