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

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

CBRE has been the subject of several other reports. Goldman Sachs Group began reporting on CBRE Group shares in a report on Tuesday, April 5. They set a buy rating and a price target of $111.00 for the company. Raymond James lowered its price target on CBRE Group stock from $126. Finally, Wolfe Research lowered its price target on CBRE Group stock from $171. One equities research analyst has rated the stock with a hold rating and four have rated the stock as Buy rating assigned. According to MarketBeat.com, the company currently has an average rating of Buy and an average price target of $113.25.

CBRE rose $2.01 on Friday to hit $70.16. The company had a trading volume of 5,812,171 shares compared to its average volume of 1,954,123. CBRE Group has a 1-year low of $67.68 and a 1-year high of $111.00. The stock has a market cap of $22.93 billion, a P/E 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 debt-to-equity 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.

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The CBRE Group (NYSE:CBRE – Get Rating) last announced its quarterly results on Thursday, May 5th. The financial services firm reported earnings per share of $1.39 for the quarter, beating analysts’ consensus estimate of $1.10 by $0.29. CBRE Group had a net margin of 6.74% and a return on equity of 25.00%. The company made $7.33 billion in revenue for the quarter, compared to analysts’ expectations of $7.55 billion. In the same period last year, the company generated earnings per share of $0.86. CBRE Group’s quarterly revenue increased 23.5% compared to the same quarter last year. As a group, analysts expect CBRE Group to report 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’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $83.16 for a total transaction of $415,800.00. Following the transaction, the Chief Executive Officer 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, available at this link. Company insiders own 0.43% of the company’s shares.

Hedge funds have recently added to 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 purchasing an additional 58,123 shares 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 last quarter. Lockheed Martin Investment Management Co. acquired a new interest in CBRE Group stock valued at approximately $2,708,000 during the fourth quarter. Oppenheimer Asset Management Inc. increased its stake in CBRE Group shares by 14.2% in 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 firm 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 the CBRE Group (get rating)

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

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