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CBRE Group Inc (CBG) Stock Rating Reaffirmed by Wedbush
20 April 2017, 04:17 | Jodi Jackson
Sell-side analyst recommendations point to a short term price target of $38 on the shares of CBRE Group, Inc. Conning Inc. acquired a new stake in shares of CBRE Group during the third quarter worth $205,000.
Other hedge funds have also added to or reduced their stakes in the company. ValueAct Holdings - L.P. bought $98.94 million worth of stock. The Texas-based Nokomis Capital L.L.C. has invested 1.09% in the stock. Bank of Montreal Can raised its position in shares of CBRE Group by 3.8% in the third quarter. Insiders now own 0.90% of total outstanding shares.
8/25/2015-Sterne Agee CRT initiated coverage with a Buy rating. BlackRock Institutional Trust Company N.A. now owns 7,717,050 shares of the company's stock worth $215,923,000 after buying an additional 240,166 shares in the last quarter. Stifel Financial holds 0.01% of its portfolio in CBRE Group Inc (NYSE:CBG) for 44,721 shares.
University of MI professor and noted insider trading researcher discovered that when insiders bought shares of their own companies, the stocks outperformed the total market by 8.9% over the next 12-month period. Tredje AP fonden boosted its stake in shares of CBRE Group by 55.3% in the fourth quarter. Harris Associates L P now owns 17,642,329 shares of the financial services provider's stock valued at $493,633,000 after buying an additional 1,601,492 shares during the last quarter.
On 3/7/2017, Zacks Investment Research released a statement for CBRE Group Inc (NYSE:CBG) bumped up the target price from $0.00 to $42.00 that suggested an upside of 0.16%. The share price has moved backward from its 20 days moving average -0.53% and positively from its 50 days moving average 2.39%. The company has a market cap of $11.10 billion, a PE ratio of 19.75 and a beta of 1.70. CBRE Group has a 12-month low of $24.11 and a 12-month high of $36.74. LAFITTE MICHAEL J also sold $525,032 worth of CBRE Group Inc (NYSE:CBG) shares. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.79 by $0.14.
In the profitability analysis, net profit margin of the firm was recorded at 4.40% and operating profit margin was calculated at 6.20% while gross profit margin was measured as 30.20%. The firm earned $3.80 billion during the quarter, compared to analysts' expectations of $3.89 billion. CBRE Group's quarterly revenue was up 3.4% compared to the same quarter a year ago. Equities research analysts expect that CBRE Group will post $2.38 earnings per share for the current fiscal year. CBRE Group had 10 analyst reports since August 12, 2015 according to SRatingsIntel. If you are reading this piece on another publication, it was copied illegally and republished in violation of US & global trademark and copyright legislation. The shares have been given a mean Buy rating keeping in view the consensus of 10 Analysts.
Another critical number in evaluating a stock is P/E or Price to Earnings ratio. Keefe, Bruyette & Woods reissued a "hold" rating on shares of CBRE Group in a report on Thursday, March 16th.
Amid volatile financial markets and the presidential election, various investment brokerages have made amendments to their price targets and ratings on shares of CBRE Group, Inc. They now have a Dollars 32 price target on the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
On 2/16/2017 Gil Borok, CFO, sold 36,209 with an average share price of $35.35 per share and the total transaction amounting to $1,279,988.15. The disclosure for this sale can be found here. When they sold shares, the stock underperformed 5.4%.
CBRE Group, Inc.is a holding company that conducts all of its activities through its subsidiaries. The Company operates as a commercial real estate services and investment company.
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