CBRE Group, Inc. (NYSE:CBRE – Get Free Report) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 4,790,000 shares, an increase of 5.7% from the November 15th total of 4,530,000 shares. Based on an average daily volume of 1,790,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 1.6% of the company’s stock are short sold.
Analysts Set New Price Targets
A number of equities research analysts have commented on CBRE shares. Evercore ISI raised their price target on CBRE Group from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Citigroup boosted their target price on shares of CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group began coverage on CBRE Group in a research report on Friday, December 6th. They set a “buy” rating and a $176.00 price objective on the stock. JPMorgan Chase & Co. raised CBRE Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $120.00 to $163.00 in a research report on Monday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $133.33.
Check Out Our Latest Analysis on CBRE
Insider Transactions at CBRE Group
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in CBRE. Lindbrook Capital LLC raised its position in shares of CBRE Group by 4.7% in the 3rd quarter. Lindbrook Capital LLC now owns 1,750 shares of the financial services provider’s stock worth $218,000 after buying an additional 79 shares during the period. Stephens Inc. AR raised its holdings in shares of CBRE Group by 3.1% in the 3rd quarter. Stephens Inc. AR now owns 2,640 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 80 shares during the period. Fidelis Capital Partners LLC lifted its stake in shares of CBRE Group by 2.1% in the 3rd quarter. Fidelis Capital Partners LLC now owns 3,994 shares of the financial services provider’s stock valued at $492,000 after purchasing an additional 82 shares in the last quarter. Private Advisor Group LLC increased its position in CBRE Group by 1.2% during the 3rd quarter. Private Advisor Group LLC now owns 7,688 shares of the financial services provider’s stock worth $957,000 after purchasing an additional 90 shares in the last quarter. Finally, Community Bank & Trust Waco Texas raised its holdings in CBRE Group by 0.6% in the third quarter. Community Bank & Trust Waco Texas now owns 15,280 shares of the financial services provider’s stock valued at $1,902,000 after buying an additional 93 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.
CBRE Group Stock Performance
Shares of CBRE stock opened at $135.85 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $41.57 billion, a P/E ratio of 43.68 and a beta of 1.39. CBRE Group has a one year low of $82.75 and a one year high of $142.00. The firm’s 50 day moving average price is $132.36 and its 200-day moving average price is $114.71.
CBRE Group (NYSE:CBRE – Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The business had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.80 billion. During the same period in the prior year, the firm posted $0.72 EPS. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts predict that CBRE Group will post 4.99 EPS for the current year.
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.
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