Have you been eager to see how CBRE Group, Inc. performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Los Angeles, CA-based, real operations firm’s earnings release this morning:
An Earnings Beat
CBRE Group came out with adjusted earnings of 50 cents per share, beating the Zacks Consensus Estimate of 48 cents.
How Was the Earnings Surprise Trend?
CBRE Group has a decent earnings surprise history. Before posting an earnings beat in Q3, the company delivered positive surprises in all the four trailing quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 6.73% in the trailing four quarters, prior to this earning.
Revenues Miss
CBRE Group posted revenues of $3.19 billion, lagging the Zacks Consensus Estimate of $3.29 billion. However, revenues were much higher than the year-ago number of $2.71 billion.
Key Developments to Note
CBRE Group reaffirmed the expected adjusted earnings per share for 2016 range in the range of $2.15–$2.30
The Americas, the largest business segment of the company recorded revenue growth of 14% (same in local currency). Despite the Brexit fallout, the UK market saw revenue growth of 20% in local currency.
What Zacks Rank Says
CBRE Group currently has a Zacks Rank #4 (Sell). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts. You can see the complete list of today’s Zacks #1 Rank stocks here.
Check back later for our full write up on this CBRE Group earnings report later!
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Have you been eager to see how CBRE Group, Inc. performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Los Angeles, CA-based, real operations firm’s earnings release this morning:
An Earnings Beat
CBRE Group came out with adjusted earnings of 50 cents per share, beating the Zacks Consensus Estimate of 48 cents.
How Was the Earnings Surprise Trend?
CBRE Group has a decent earnings surprise history. Before posting an earnings beat in Q3, the company delivered positive surprises in all the four trailing quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 6.73% in the trailing four quarters, prior to this earning.
Revenues Miss
CBRE Group posted revenues of $3.19 billion, lagging the Zacks Consensus Estimate of $3.29 billion. However, revenues were much higher than the year-ago number of $2.71 billion.
Key Developments to Note
CBRE Group reaffirmed the expected adjusted earnings per share for 2016 range in the range of $2.15–$2.30
The Americas, the largest business segment of the company recorded revenue growth of 14% (same in local currency). Despite the Brexit fallout, the UK market saw revenue growth of 20% in local currency.
What Zacks Rank Says
CBRE Group currently has a Zacks Rank #4 (Sell). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts. You can see the complete list of today’s Zacks #1 Rank stocks here.
Check back later for our full write up on this CBRE Group earnings report later!
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>