CBRE Group (NYSE:CBRE) Reaches New 1-Year High – What’s Next?

CBRE Group, Inc. (NYSE:CBRE) reached a new 52-week high during trading on Monday . The stock traded as high as $142.01 and last traded at $142.62, with a volume of 61833 shares changing hands. The stock had previously closed at $141.13.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CBRE. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $120.00 to $163.00 in a report on Monday, December 16th. Evercore ISI dropped their price objective on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Keefe, Bruyette & Woods raised their price target on shares of CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Citigroup raised their price objective on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Jefferies Financial Group raised CBRE Group from a “hold” rating to a “buy” rating and upped their target price for the company from $133.00 to $152.00 in a research report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.56.

CBRE Group Stock Performance

The company’s 50-day moving average is $134.08 and its two-hundred day moving average is $123.37. The stock has a market capitalization of $43.84 billion, a P/E ratio of 46.00 and a beta of 1.39. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. The business had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. As a group, sell-side analysts anticipate that CBRE Group, Inc. will post 4.99 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of CBRE Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. increased its stake in CBRE Group by 190.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 215 shares during the period. AQR Capital Management LLC grew its stake in CBRE Group by 127.8% during the second quarter. AQR Capital Management LLC now owns 213,148 shares of the financial services provider’s stock worth $18,994,000 after buying an additional 119,563 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of CBRE Group by 234.7% during the second quarter. APG Asset Management N.V. now owns 38,078 shares of the financial services provider’s stock worth $3,166,000 after buying an additional 26,700 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of CBRE Group by 6.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 323,311 shares of the financial services provider’s stock worth $28,810,000 after acquiring an additional 20,717 shares in the last quarter. Finally, MBB Public Markets I LLC raised its position in CBRE Group by 388.4% in the 2nd quarter. MBB Public Markets I LLC now owns 25,128 shares of the financial services provider’s stock valued at $2,239,000 after purchasing an additional 19,983 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

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.