CBRE Group (NYSE:CBRE) Price Target Cut to $141.00 by Analysts at Evercore ISI

CBRE Group (NYSE:CBRE) had its price objective decreased by Evercore ISI from $147.00 to $141.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s target price points to a potential upside of 12.96% from the company’s previous close.

A number of other brokerages have also issued reports on CBRE. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $120.00 to $163.00 in a report on Monday, December 16th. Keefe, Bruyette & Woods increased their price target on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Citigroup lifted their price objective on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. The Goldman Sachs Group assumed coverage on shares of CBRE Group in a research report on Friday, December 6th. They issued a “buy” rating and a $176.00 target price for the company. Finally, Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $133.00 to $152.00 in a research report on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $139.33.

CBRE Group Stock Performance

CBRE stock opened at $124.82 on Monday. The stock’s fifty day moving average is $133.32 and its two-hundred day moving average is $120.55. The stock has a market capitalization of $38.20 billion, a price-to-earnings ratio of 40.14 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. CBRE Group has a 1 year low of $82.75 and a 1 year high of $142.00.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The firm had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.80 billion. During the same period last year, the firm posted $0.72 EPS. CBRE Group’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, research analysts predict that CBRE Group will post 4.99 EPS for the current year.

Insider Activity at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 1,815 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $131.34, for a total value of $238,382.10. Following the transaction, the chief financial officer now owns 70,154 shares of the company’s stock, valued at approximately $9,214,026.36. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On CBRE Group

A number of hedge funds have recently modified their holdings of CBRE. Algert Global LLC purchased a new stake in shares of CBRE Group during the third quarter valued at $1,829,000. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in CBRE Group during the 4th quarter worth about $1,518,000. Fulton Bank N.A. boosted its holdings in shares of CBRE Group by 342.0% in the fourth quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock worth $3,262,000 after buying an additional 19,227 shares during the period. Prestige Wealth Management Group LLC increased its position in shares of CBRE Group by 17,304.5% in the third quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 3,807 shares in the last quarter. Finally, Cornerstone Advisors LLC raised its holdings in shares of CBRE Group by 29.9% during the third quarter. Cornerstone Advisors LLC now owns 16,500 shares of the financial services provider’s stock valued at $2,054,000 after acquiring an additional 3,800 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.

About CBRE Group

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.