CBRE Group Inc (CBG) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of CBRE Group Inc (NYSE:CBG) from a buy rating to a hold rating in a research report released on Tuesday, April 18th.

According to Zacks, “Shares of CBRE outperformed the Zacks categorized Real Estate – Operations industry over the past three months. The company is slated to release first-quarter earnings results on Apr 27. Notably, CBRE has achieved the top position for commercial real estate investment sales globally during 2016, according to Real Capital Analytics (RCA). This marked its sixth consecutive year of achieving the top spot. The company’s extensive real estate products and services offerings, improving leasing, property sales and outsourcing business, strategic in-fill acquisitions, transformational deals, and healthy balance sheet are expected to drive its results. However, uneasiness in certain economies and unfavorable foreign currency movement remain concerns for the company.”

A number of other research firms have also commented on CBG. Wedbush reiterated an outperform rating and set a $38.00 price objective on shares of CBRE Group in a research note on Monday, April 17th. Keefe, Bruyette & Woods reiterated a hold rating on shares of CBRE Group in a research note on Thursday, March 16th.

Shares of CBRE Group (NYSE:CBG) traded up 1.66% during midday trading on Tuesday, reaching $33.68. The company’s stock had a trading volume of 1,685,825 shares. The company has a market capitalization of $11.35 billion, a P/E ratio of 18.41 and a beta of 1.70. CBRE Group has a 1-year low of $24.11 and a 1-year high of $36.81. The stock has a 50 day moving average of $34.43 and a 200-day moving average of $32.52.

CBRE Group (NYSE:CBG) last posted its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.10. CBRE Group had a net margin of 4.38% and a return on equity of 26.37%. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter last year, the business earned $0.36 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that CBRE Group will post $2.42 earnings per share for the current year.

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In related news, Director Laura D. Tyson sold 3,966 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $36.33, for a total transaction of $144,084.78. Following the transaction, the director now owns 30,278 shares in the company, valued at $1,099,999.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CBG. ValueAct Holdings L.P. boosted its stake in shares of CBRE Group by 5.1% in the third quarter. ValueAct Holdings L.P. now owns 34,620,054 shares of the financial services provider’s stock worth $968,669,000 after buying an additional 1,684,260 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of CBRE Group by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,822,201 shares of the financial services provider’s stock worth $967,934,000 after buying an additional 1,024,363 shares during the last quarter. BlackRock Inc. boosted its stake in shares of CBRE Group by 3,425.0% in the first quarter. BlackRock Inc. now owns 19,371,641 shares of the financial services provider’s stock worth $673,940,000 after buying an additional 18,822,095 shares during the last quarter. State Street Corp boosted its stake in shares of CBRE Group by 0.7% in the first quarter. State Street Corp now owns 12,216,341 shares of the financial services provider’s stock worth $425,001,000 after buying an additional 88,864 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of CBRE Group by 1.9% in the first quarter. JPMorgan Chase & Co. now owns 11,842,380 shares of the financial services provider’s stock worth $411,997,000 after buying an additional 218,386 shares during the last quarter. Institutional investors and hedge funds own 95.98% of the company’s stock.

About CBRE Group

CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.

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