Somewhat Positive Press Coverage Somewhat Unlikely to Impact CBRE Group (CBG) Share Price
Headlines about CBRE Group (NYSE:CBG) have been trending somewhat positive recently, Accern reports. Accern ranks the sentiment of media coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. CBRE Group earned a news impact score of 0.21 on Accern’s scale. Accern also gave press coverage about the financial services provider an impact score of 45.405654741827 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the news stories that may have effected Accern’s rankings:
- Data Center Spending Is Off The Charts This Year (finance.yahoo.com)
- Report names Charlotte an ’emerging’ data center market (finance.yahoo.com)
- CBRE Group, Inc. (CBG) Receives Average Rating of “Hold” from Brokerages (americanbankingnews.com)
- CREDAI – CBRE Commissioned a joint report “Assessing the Economic Impact of India’s Real Estate” (content.magicbricks.com)
- CBRE Group (CBG) vs. Its Rivals Head-To-Head Survey (americanbankingnews.com)
A number of equities research analysts have weighed in on CBG shares. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Friday, July 7th. Barclays PLC lifted their target price on CBRE Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $36.00 target price on shares of CBRE Group in a report on Friday, July 21st. BidaskClub downgraded CBRE Group from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, UBS AG started coverage on CBRE Group in a report on Wednesday, July 26th. They issued a “neutral” rating and a $41.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $39.60.
Shares of CBRE Group (NYSE:CBG) opened at 38.63 on Thursday. CBRE Group has a 52 week low of $25.40 and a 52 week high of $38.99. The firm has a market cap of $13.02 billion, a PE ratio of 18.85 and a beta of 1.82. The firm has a 50-day moving average price of $36.60 and a 200-day moving average price of $35.76.
CBRE Group (NYSE:CBG) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.12. CBRE Group had a return on equity of 26.40% and a net margin of 5.21%. The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the company earned $0.52 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that CBRE Group will post $2.57 earnings per share for the current year.
In other news, CFO Gil Borok sold 25,627 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $37.33, for a total value of $956,655.91. Following the completion of the transaction, the chief financial officer now owns 76,651 shares of the company’s stock, valued at approximately $2,861,381.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laurence H. Midler sold 14,614 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $35.42, for a total value of $517,627.88. Following the completion of the transaction, the executive vice president now directly owns 111,720 shares of the company’s stock, valued at approximately $3,957,122.40. The disclosure for this sale can be found here. Insiders sold a total of 5,690,787 shares of company stock valued at $204,371,897 in the last three months. Corporate insiders own 1.00% 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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