CBRE Group Inc. (NYSE: CBRE) stock fell -2.63% on Friday to $73.01 against a previous-day closing price of $74.98. With 1.35 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.64 million shares. During the session, the Real Estate Services company that operates in wider Real Estate sector, reached to the highest price of $75.90 whereas the lowest price it dropped to was $72.99. The 52-week range on CBRE shows that it touched its highest point at $111.00 and its lowest point at $67.68 during that stretch. It currently has a 1-year price target of $103.00. Beta for the stock currently stands at 1.38.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CBRE was down-trending over the past week, with a drop of -6.57%, but this was down by -9.84% over a month. Three-month performance surged to 2.64% while six-month performance fell -20.28%. The stock lost -22.11% in the past year, while it has lost -32.72% so far this year. A look at the trailing 12-month EPS for CBRE yields 5.96 with Next year EPS estimates of 6.10. For the next quarter, that number is 1.32. This implies an EPS growth rate of 143.30% for this year and 1.28% for next year. EPS is expected to grow by 11.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 26.10%.
Float and Shares Shorts:
At present, 325.42 million CBRE shares are outstanding with a float of 319.75 million shares on hand for trading. On Jul 14, 2022, short shares totaled 5.48 million, which was 1.68% higher than short shares on Jun 14, 2022. In addition to Mr. Robert E. Sulentic as the firm’s Pres, CEO & Director, Ms. Emma E. Giamartino serves as its Global Group Pres, CFO & Chief Investment Officer.
Through their ownership of 99.59% of CBRE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.62% of CBRE, in contrast to 5.87% held by mutual funds. Shares owned by individuals account for 42.03%. As the largest shareholder in CBRE with 15.90% of the stake, The Vanguard Group, Inc. holds 51,065,139 shares worth 51,065,139. A second-largest stockholder of CBRE, BlackRock Fund Advisors, holds 19,351,150 shares, controlling over 6.03% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in CBRE, holding 14,355,798 shares or 4.47% stake. With a 4.78% stake in CBRE, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 15,350,876 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.86% of CBRE stock, is the second-largest Mutual Fund holder. It holds 9,191,709 shares valued at 725.78 million. Vanguard 500 Index Fund holds 2.27% of the stake in CBRE, owning 7,296,074 shares worth 576.1 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CBRE since 10 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CBRE analysts setting a high price target of $116.00 and a low target of $86.00, the average target price over the next 12 months is $100.00. Based on these targets, CBRE could surge 58.88% to reach the target high and rise by 17.79% to reach the target low. Reaching the average price target will result in a growth of 36.97% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CBRE will report FY 2022 earnings on 02/10/2023. Analysts have provided yearly estimates in a range of $6.41 being high and $5.90 being low. For CBRE, this leads to a yearly average estimate of $6.16. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CBRE Group Inc. surprised analysts by $0.44 when it reported $1.83 EPS against a consensus estimate of $1.39. The surprise factor in the prior quarter was $0.31. Based on analyst estimates, the high estimate for the next quarter is $1.38 and the low estimate is $1.19. The average estimate for the next quarter is thus $1.29.
Summary of Insider Activity:
Insiders traded CBRE stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 5,000 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 62 over the past year. The total number of shares bought during that period was 682,632 while 242,372 shares were sold.