CBRE Group (NYSE:CBRE) downgraded by StockNews.com

CBRE Group (NYSE:CBRE – Get a Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report on Friday.

CBRE has been the subject of several other reports. Goldman Sachs Group launched a hedge on CBRE Group shares in a Tuesday, April 5 report. They set a “buy” rating and a price target of $111.00 for the company. Raymond James lowered its price target on CBRE Group shares from $126.00 to $111.00 and set an “outperform” rating on the stock in a Tuesday, April 26 research report. Finally, Wolfe Research lowered its price target on CBRE Group shares from $171.00 to $116.00 and set an “outperform” rating on the stock in a Thursday, March 10 research report. One equity research analyst gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $113.25.

CBRE traded as high as $2.01 on Friday, hitting $70.16. The company had a trading volume of 5,812,171 shares, compared to an average volume of 1,954,123 shares. The CBRE group has a 1-year low of $67.68 and a 1-year high of $111.00. The stock has a market capitalization of $22.93 billion, a PE ratio of 12.14 and a beta of 1.36. The company has a quick ratio of 1.20, a current ratio of 1.20 and a leverage ratio of 0.16. The stock has a 50-day moving average price of $80.84 and a 200-day moving average price of $92.36.

CBRE Group (NYSE:CBRE – Get Rating) last announced its quarterly results on Thursday, May 5. The financial services provider reported earnings per share of $1.39 for the quarter, beating consensus analyst estimates of $1.10 by $0.29. The CBRE group achieved a net margin of 6.74% and a return on equity of 25.00%. The company posted revenue of $7.33 billion in the quarter, versus $7.55 billion expected by analysts. During the same period of the previous year, the company made earnings per share of $0.86. CBRE Group’s quarterly revenue increased by 23.5% compared to the same quarter last year. As a group, analysts expect CBRE Group to post earnings per share of 6.2 for the current fiscal year.

In other CBRE Group news, CEO Daniel G. Queenan sold 5,000 shares of the company in a trade dated Wednesday, June 1. The shares were sold at an average price of $83.16, for a total transaction of $415,800.00. As a result of the transaction, the CEO now directly owns 188,841 shares of the company, valued at $15,704,017.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.43% of the company’s shares.

Hedge funds have recently increased or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in CBRE Group shares by 6.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 997,602 shares of the financial services provider valued at $108,250,000 after buying an additional 58,123 shares in the last quarter. ProShare Advisors LLC increased its position in CBRE Group shares by 20.5% in the fourth quarter. ProShare Advisors LLC now owns 121,848 shares of the financial services provider valued at $13,222,000 after purchasing an additional 20,705 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new stake in shares of CBRE Group in the fourth quarter valued at approximately $2,708,000. Oppenheimer Asset Management Inc. increased its stake in CBRE Group shares by 14.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 29,124 shares of the financial services provider valued at $3,160,000 after purchasing an additional 3,626 shares during the period. Finally, Vident Investment Advisory LLC increased its stake in CBRE Group shares by 5.4% during the fourth quarter. Vident Investment Advisory LLC now owns 73,701 shares of the financial services provider valued at $7,998,000 after purchasing an additional 3,768 shares during the period. Institutional investors and hedge funds own 96.30% of the company’s shares.

About CBRE Group (Get a rating)

CBRE Group, Inc operates as a worldwide commercial real estate and investment services company. It operates through three segments: Consulting Services, Global Workplace Solutions and Real Estate Investments. The Advisory Services segment provides strategic advice and execution to owners, investors and occupiers of real estate in connection with leasing; real estate sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, construction engineering, accounting and financial services for owners and investors of office, industrial and retail properties; and appraisal services which include market value appraisals, litigation support, discounted cash flow analyzes and feasibility studies, as well as advisory services, such as property condition reports , hotel advice and environmental advice.

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